coinquora.com
Companies in the crypto world continue to upgrade its network to stay ahead against its competitors in space. This time, SubQuery (SQT), a leading data indexing solution in Polkadot announced its plan to launch its network on the Acala parachain. The network also aims to be the first external application and token to launch with Acala.
Sam Zou, the Founder and CEO of SubQuery commented:
We have ambitious growth plans, but our home will always be Polkadot. By partnering with Acala, the best DeFi platform on Polkadot, we have absolute confidence in their ability to help us not only in our token launch, but also in future areas such as micropayments for indexers across networks.
The reasons behind the collaboration of SubQuery with the Acala network include some things such as community access, domain/technical excellence, and existing robust relationships. Furthermore, the Acala’s upcoming EVM+ launch is also a huge factor that caught the attention of SubQuery in joining hands with Acala.
Bette Chen, the Co-Founder of Acala explained:
Acala will play the role of DeFi hub for Polkadot and a landing pad that aggregates assets and liquidity from a variety of blockchains. We are excited to be able to continue our close relationship with SubQuery and launch the SQT token and SubQuery smart contracts on our platform.
In the future, the EVM compatible chain will enable SubQuery’s token generation event (TGE) to seamlessly allow investors’ participation into SQT from the Ethereum ecosystem through Metamask. In addition, through Acala’s EVM+, users can even link their Ethereum addresses with their Polkadot addresses. Hence, overcoming the need to manage multiple accounts.
On the other hand, both SubQuery and Acala share a common vision to grow the Polkadot ecosystem and help the world move towards a decentralized future. The two projects are natural partners, having established a trusted relationship from the genesis of SubQuery until now. Recently, both networks partnered on a joint hackathon with Encode Club and have operated Acala SubQuery Projects which dynamically track data created on Acala and Karura.