Subsquid, a Web3 data access layer, has made an announcement in a close-up report that several top-tier cryptocurrency exchanges are preparing to list its SQD token. On May 17, 2024, the native Subsquid token will be simultaneously listed on Gate.io, Bybit, KuCoin, CoinList, and MEXC Global.
The SQD trading markets are set to commence at 8:00 UTC, with a starting price of $0.094. This multi-exchange listing follows the oversubscribed token sale on Coinlist, which raised $6.3 million. The inclusion of SQD on top-tier exchanges will enhance liquidity and accessibility to the native Subsquid token.
SQD plays a crucial role in the Subsquid ecosystem. Not only does the token help align the incentives of infrastructure providers, but it also serves as a means to reward node operators who provide computational and storage resources. Node curation and supporting protocol governance are two additional use cases.
Marcel Fohrmann, Co-Founder of Subsquid, expressed his thoughts:
The listing of SQD on international exchanges will facilitate the decentralization of Subsquid’s network and its accessibility to a larger number of web3 users. Consequently, SQD holders will have greater opportunities to utilize Subsquid’s protocol and participate in its permissionless data economy.
Subsquid SQD Token Successfully Lists on Prominent Crypto Exchanges Following Funding Declaration
