SubQuery Mainnet and SQT Launch: All You Need to Know

SubQuery, the pioneer of fast, flexible, and scalable decentralised infrastructure, is excited to confirm the date of our token generation event (TGE), mainnet launch and exchange listing will be 8AM Friday, 23 February 2024 UTC. Off the back of our public sale success, we are excited to make another giant leap towards the web3 infrastructure revolution we have set our sights on. Here we will outline everything you need to know about the SubQuery Network launch and $SQT generation event.

Exchange Listing - How to get your hands on SQT

If you were one of many who were unable to get your hands on SQT at our sold-out public sale, not to worry! On the 23rd of February 2024, you will be able to purchase SQT at our SQT day one listing on ByBit, a leading cryptocurrency exchange which provides a secure and user-friendly trading experience. You can sign up now to ByBit here to start trading SQT. SQT must be deposited on the Ethereum network on Bybit and SQT:USDT will be the trading pair available at launch.

We are working with ByBit to open more trading pairs and to allow deposits and withdrawals on Base, as well as new exchanges to give you trading options.

Token Generation Event (TGE)

SubQuery’s TGE will take place at 8am UTC on 23rd February 2024 and will mark the birth of the SubQuery Token (SQT).

From this date, the SQT token will be minted and vesting schedules will commence. Those who participated in the Public Sale will also be able to claim their SQT on this date at our claim page. This date has been picked to allow us to launch the SubQuery Mainnet at the same time.

This means that immediately after claiming your tokens, SQT holders will be able to put them to productive use on the SubQuery Network mainnet - for example by delegating to your favourite indexer or boosting your favourite project.

To claim your tokens from public sales, private sales, and airdrops, head to our official claim page: https://claim.subquery.foundation.You wll claim tokens from public sales, private sales and other investment round on to Ethereum mainnet, while Airdrops will be claimed directly on Base to benefit from lower gas fees.

To use the claim application, you need to connect your Ethereum wallet. We recommend Metamask, Talisman, RainbowWallet, or any other WalletConnect compatible wallet.

SQT Contract addresses are as follows:
Ethereum mainnet
0x09395a2A58DB45db0da254c7EAa5AC469D8bDc85
Base
0x858c50C3AF1913b0E849aFDB74617388a1a5340d

SQT Airdrop

On 23 February, we will also be airdropping SQT on the Base network to all eligible community members. As with anyone who participated in the Public Sale, these airdrop recipients will need to claim their tokens from the official claim page. Once claimed, you can use your tokens in the SubQuery Network to bolster your data needs or earn rewards.

The airdropped tokens must be claimed within 2 weeks (deadline is 8 March 2024, 11:59:59pm UTC). Any unclaimed tokens will be redistributed to people who do show up and claim their tokens - this means you might get a little extra than you bargained for!

Transitioning Kepler Network and kSQT

Kepler Network functioned as a pre-mainnet, a controlled phase that helped us bootstrap the mainnet with participants and activity. Kepler was designed to enable participants to provide value to real projects and the Kepler token (kSQT) mimicked the properties of the eventual SubQuery Network token (SQT). The kSQT token was issued with a very limited supply and upon the retirement of Kepler and launch of the SubQuery Network, all kSQT can be burnt in exchange for SQT. Here is the migration guide for Indexers, and we’ve also written a migration guide for Delegators.

kSQT will be very easy to swap to SQT to allow you to move straight to the mainnet. The swap will be at a rate of 1:1.83 for kSQT:SQT - a 10% premium over the current price of kSQT. The swap mechanism will be available the same day as mainnet launch, 23 February 2024, and you can complete the swap by following the guide here.

Mainnet Launch: Using Your SQT

Now that you have your SQT (or plan to purchase some once listed), remember that SQT is a utility token and you can immediately put it to productive use on our mainnet.

The SQT token powers the SubQuery Network with three main use cases:

Means of payment: Payment on the SubQuery network, which enables developers to access indexed data or RPC services to serve their decentralised applications and blockchain-based solutions quickly and easily;
Staking & delegation: To create a reward incentive mechanism for Delegators, Consumers, and Node Operators (data indexers and RPC providers)
Governance: additionally, SQT provides a means for users to participate in the governance of the SubQuery network, enabling them to vote on proposals and shape the future direction of the platform.

Resources

To stake your SQT as a Delegator in the network, check out our step-by-step guide.
You can learn more about the network and which role is best for you here
Very soon you can dive into the SubQuery Network mainnet here: https://app.subquery.network

If you’re not sure where to get started, join our supportive Discord community and just ask for help!

About SubQuery

SubQuery Network is innovating web3 infrastructure with tools that empower builders to decentralise the future. Our fast, flexible, and open data indexer supercharges dApps on over 150 networks, enabling a user-focused web3 world. Soon, our Data Node will provide breakthroughs in the RPC industry, and deliver decentralisation without compromise. We pioneer the web3 revolution for visionaries and forward-thinkers. We’re not just a company — we’re a movement driving an inclusive and decentralised web3 era. Let’s shape the future of web3, together.