Blockchain data indexer Subsquid plans to launch its native token SQD on Friday, Foresight News reported. The utility token is designed to support Subsquid’s network of independent node operators whose collective computing power can parse large amounts of on-chain data.
Subsquid co-founder Marcel Fohrmann said that the launch of the SQD token is "99% confirmed for Friday, but the date may be pushed back to next week or the week after. The timing depends on the launch of another token scheduled for Thursday by "a major exchange."
Previously in January, Subsquid sold $6.3 million worth of tokens to the public through CoinList.
