March 2021 Recap
It’s been an intense last couple of months at OnFinality and SubQuery, we’ve expanded the team and have brought on some new partners as we launch some key new projects. In this monthly update:
- SubQuery Explorer
- Seed round update
- Our first partner use case for SubQuery
- Berkeley Blockchain Xcelerator
- Intelligent routing
- New office and team members
SubQuery Explorer goes Live
SubQuery Explorer is an online hosted service that provides access to published SubQuery projects made by contributors in our community around the world and hosted by the SubQuery team. You can test queries directly in your browser, or get API endpoints for different use cases. Be inspired by what others are building so you can give back!
We run SubQuery projects in it like they’re production applications, so you can unlock your decentralized data in your next dApp today using SubQuery.
SubQuery Raises $1.8M seed round for future expansion
SubQuery is ready to grow and deliver! We successfully raised a US$1.8 million seed round and private sale backed primarily by DeFi Alliance, D1 Ventures, Hypersphere Ventures, Digital Finance Group (DFG), and The Lao. The overwhelming demand we received to back SubQuery’s seed round shows the strong interest in infrastructure services and belief in the future of the Polkadot ecosystem.
We’re planning a subsequent private sale/raise later this year. If you’re interested in taking part please register here: https://forms.gle/6LMapDNSidQAqy347
SubQuery Explorer welcomes its first partner use case
SubQuery is all about providing data services to our partners and customers. Every blockchain team and dApp builder has a need to process and query data quickly, and for the web3 dream to be realised, it’s got to be as fast (if not faster) than centralised networks for the end user. That’s why we’re ramping up our efforts to partner with the top Polkadot projects to provide free SubQuery services for their protocols.
Earlier we launched our first partnership with our close friends at Acala to allow users and developers to query and extract data from Acala’s DeFi hub for Polkadot in only minutes and at no cost. When you access the SubQuery Explorer you’ll be welcomed with a new Acala SubQuery Project. This SubQuery dynamically tracks all the extrinsic data created on Acala and can quickly show derived aggregated stats for the following:
- Historical Data on liquidity changes (broken down by providers)
- Historical Data on all cross chain asset swaps
- Transfer history
You could create a dApp for lenders showing collateralization ratio, loan amount, interests accrued, etc. Or a service for decentralised exchanges with pair liquidity, pair exchange rate, trading volumes.
We’re planning to improve our partnership tools very soon and are planning on onboarding other top protocols in the next week or two at a rapid pace.
Berkeley Blockchain Xcelerator
We were excited to announce in March that Berkeley has selected SubQuery to be part of their exclusive Blockchain Xcelerator. SubQuery (and it’s parent company OnFinality) were selected from over 200 applications to be part of just 21 exclusive spots.
Berkeley’s blockchain Xcelerator is known around the world as one of the most successful blockchain accelerators for a reason. It has incubated over 40 companies that have raised over $25M in seed and early stage funding, and over 75% of the inaugural batch raised follow-on funding.
We’ve recently been awarded a treasury grant to complete an intelligent routing layer that allows us to expose multiple clusters behind a single endpoint. This will allow us to scale our service better, and quickly fall over to redundant clusters in the unlikely event that some of our infrastructure goes down. Both OnFinality and SubQuery rely on this infrastructure so it’s important that we continue to invest and improve here.
New Staff and Office
One of the biggest changes over the past month is how much the team has grown. We’ve added two new staff over the past month and expect to hire more, as a result, we’ve found a new office in Auckland that fits us perfectly. We will grow, but still plan to remain small and nimble so we can deliver our product vision.