Friday, July 19, 2024

    SubQuery Selects Base for Upcoming Launch of the SubQuery Network

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    SubQuery, a pioneer in web3 infrastructure, announces that the forthcoming launch of the SubQuery Network mainnet will take place on the Base Network. Mainnet launch will see SubQuery’s decentralised data marketplace come to life and will take place shortly after SubQuery’s public token sale on 30 January 2024. Base, an Ethereum Layer 2 solution incubated by Coinbase and built on the open-source OP Stack, has been selected as the platform to propel SubQuery’s mission to decentralise the future of blockchain technology.

    SubQuery’s alignment with Base’s ambitious Superchain vision made Base the perfect home for SubQuery’s Decentralised Network. Three key factors solidified Base as the right partner for SubQuery:

    • Technical Excellence: like SubQuery, Base is designed with a developer-first approach. Base offers full EVM compatibility at a fraction of the cost and gasless transactions with easy developer APIs for account abstraction.
    • Multi-chain Vision: SubQuery already has customers on over 150 supported networks. With Base’s commitment to network interoperability, it makes it easier for customers to transact and move across chains easily and affordably, creating a consistent user experience and laying the groundwork for teams everywhere to build a decentralised future.
    • Ecosystem Support: Base is incubated by Coinbase, one of the largest centralised exchanges in the world and boasting an impressive amount of transaction traffic, liquidity, users, and financial products. By building on Base, SubQuery gains access to Coinbase product integrations, fiat onramps, and powerful acquisition tools, allowing the 110 million verified users and $80B+ assets in the Coinbase ecosystem to easily interact with SubQuery’s decentralised infrastructure network.

    “When speaking to the Base team it quickly became clear that we had a shared vision and common principles for the future of blockchain. In order for us to revolutionise web3 infrastructure we need access to the right tools and the right developer communities, Base’s ecosystem is best positioned to help us on this quest – Sam Zou, CEO at SubQuery”.

    Base launched with a vision of providing the best ecosystem for developers to deploy and launch decentralised applications. Launched with Optimism’s cutting-edge technology, Base is a L2 that’s powerful and efficient but also developer-friendly and secure. To achieve this goal, Base requires the leading developer tools and infrastructure that make it a delightful experience for developers to deploy and build on Base. By becoming the native home of the SubQuery Network, Base establishes itself as the market leader in providing decentralised data indexing and RPC infrastructure to all members of its ecosystem.

    “Decentralising RPCs and data indexing is crucial for the next phase of onchain adoption. We welcome SubQuery’s support to ensure all builders have access to performant and decentralised infrastructure solutions – Rowan Stone, Head of Business at Base”.

    SubQuery is not merely indexing web3 data, it is spearheading a complete web3 infrastructure revolution. SubQuery set out with the goal of decentralising RPCs, as well as data indexers, last year. RPC services are still the main interface to the blockchain – under the hood of your favourite dApp, dozens of requests are passing through centralised RPC providers to query and submit transactions to the network. They are the most critical part of the web3 infrastructure landscape and when one has an outage, the effects reverberate across the industry.

    SubQuery identified the fundamental issues with existing RPC solutions being expensive, largely centralised, pose high barriers to entry, and result 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 release full RPC support in the Mainnet on Base in March 2024. SubQuery is committed to decentralising critical web3 infrastructure without compromise.

    About Base

    Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users onchain.

    Base is incubated within Coinbase and plans to progressively decentralise in the years ahead. We believe that decentralisation is critical to creating an open, global crypto economy that is accessible to everyone.

    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 125 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.

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