January 2024 Monthly Recap

5 min readFeb 6, 2024

The kickoff of 2024 was nothing short of spectacular, marked by meticulous planning leading up to our highly anticipated Public Sale on January 30, 2024. The response exceeded expectations, with most tokens sold out within a mere 2 hours!

Thanks to our incredible community, customers and partners — your unwavering support has been the driving force behind this success, and we express our heartfelt gratitude. None of this would have been possible without you, and every aspect of our carefully laid plans has now come to fruition.

However there’s no time to bask in the success of the Public Sale, our focus shifts to TGE and the imminent launch of our mainnet! The team is diligently working towards this pivotal milestone in our growth. But before we leap forward, let’s take a moment to reflect on the noteworthy events that unfolded in the remarkable month of January 2024.

The SQT Public Sale Results

The SubQuery team is incredibly grateful for the overwhelming support in our $SQT Public Sale! We sold over US$5 million worth of SQT tokens (~435 million SQT tokens) in less than 2 hours, despite challenges like over 10,000 participants temporarily taking the sale platform offline and enduring up to an hour in a virtual queue. Your patience and dedication are truly appreciated

Some interesting data from the Public Sale:

A total of 3,964 contributors were able to get some SQT token from the public sale
SQT purchases came from a diverse 109 countries across the globe on all continents (except Antarctica).
Most investors maximised their bags, purchasing over US$1,500 worth of tokens

Find out more interesting data here.

The SubQuery Seekers Challenge Program

Our Seekers program hit a milestone last month with over 200,000 participants signed up in the first month!

This programme is to show our appreciation to our most valued community members and to help decentralise our token and network. We’re gifting 50 Million SQT to our esteemed community members!

All you have to do is visit seekers.subquery.foundation, register for the campaign, and start exploring the challenges. The more challenges you complete, the more SQT tokens you can earn!

This campaign will be running until 10, April 2024 so you still have lots of time to catch up on the Leaderboard if you’re still new! There will be new challenges coming soon as well.

Our Next Steps in Decentralising our Infrastructure Service

The launch of SQT is the first step in the decentralisation of our innovative decentralised infrastructure service, and is a utility token that powers the SubQuery Network with three main use cases:

To act as a medium of exchange on the network marketplace;
To create a reward incentive mechanism for Delegators, Consumers, on and Node Operators (data indexers and RPC providers);
To facilitate governance within the protocol.

Our Token Generation Event (TGE) will take place in approximately 2 weeks (more on this soon!) and our mainnet will launch on Base by the end of February 2024.

Also coming up we have the exciting addition of RPC node operators to our proficient network of indexers already operating in our decentralised network. SubQuery identified the fundamental issues with existing RPC solutions being expensive, largely centralised, posing high barriers to entry, and resulting in no decentralisation or redundancy for dApp developers.

As laid out in the recently updated SubQuery roadmap, SubQuery is well and truly on track to solve these issues, starting with full RPC support in the Mainnet in February 2024.

SubQuery now Supports over 150 Networks!

In January, we announced indexing support for Oasis Network, Celestia, Dymension, Fantom and Metis.

Here are some of the feedback we received from our partners:

“ It is great that we are welcoming yet another strong multi-chain indexer to our thriving ecosystem. With this addition, developers can now leverage SubQuery’s capabilities to create breakthrough applications within the Fantom ecosystem. We cannot wait to see what visionary creators will bring to life within Fantom in the years to come. ”

— Sam Harcourt, Director of Business Development, Fantom Foundation

“We’re thrilled to bring SubQuery’s multi-chain indexing innovation into the heart of Metis. This isn’t just a new feature — it’s an amazing tool for our developers, offering them a whole new world of possibilities. The synergy between SubQuery and Metis marks a new chapter of creativity and groundbreaking development. We can’t wait to see the amazing experiences our community will bring to life!”

— Víctor Muñoz, Developer Relations at Metis

“We are thrilled to welcome this new multi-chain indexer to our ecosystem. With SubQuery, developers can now leverage their indexer to help create groundbreaking applications within our ecosystem and help expand Web 3 and Privacy beyond early adopters into mass-market adoption.”

— William Wendt, Ecosystem Growth Manager, Oasis Protocol Foundation

Project Boosting to Help Accelerate Network Adoption

Boosting is a new way devised by the SubQuery Network to fund and maintain “Public Good” projects, for example; network dictionaries and the various SubQuery projects that the official Network app runs on. It’s designed to solve the problem of budget efficiency spending when there is low traffic and therefore low budget.

You can read more about project boosting on our up-to-date documentation here.

Other things you might have missed

P.S. Remember to join our Discord and our social channels to stay updated on our latest news and announcements!

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.