Acala is the first cryptocurrency exchange supporting advanced smart contract technologies and will soon introduce a unique platform with innovative features from r/AskCrypto—the largest crypto-related Q&A community on Reddit.
SubQuery, a Polkadot-based data indexing tool, has announced that it would be available on the Acala blockchain.
The SubQuery Network and SQT will compete to be the first external application and token on Acala’s ambitious DeFi platform.
Acala is already preparing to host dApps weeks before its official debut.
SubQuery, a Polkadot-based data indexing service, announced today that its SubQuery Network would be available on the Acala blockchain.
🚀 We’re excited to announce that the @AcalaNetwork #Parachain will host the debut of the SubQuery Network!
SubQuery wants to be the first external app to debut on Acala’s #DeFi hub, and will take use of their new #EVM+ platform.
https://t.co/rgh6q4PCfq pic.twitter.com/UxrDI1cXcL More:https://t.co/rgh6q4PCfq
November 25, 2021 — SubQuery (@SubQueryNetwork)
According to a Medium release, the organization considered many possibilities before settling on Acala because of its higher community access and technological superiority.
However, SubQuery’s choice was influenced by Acala’s impending EVM+ debut. By launching on an EVM-compatible chain, Ethereum ecosystem investors will be able to participate in SubQuery’s token generation event (TGE) through Metamask. Acala’s EVM+ users will be able to connect their Ethereum addresses with their Polkadot addresses, thereby eliminating the need to maintain multiple accounts, in addition to using Ethereum’s most popular wallet.
“By teaming with Acala, the greatest DeFi platform on Polkadot, we have complete faith in their abilities to assist us not only in our token launch but also in future areas such as micropayments for indexers across networks,” said Sam Zou, SubQuery’s founder and CEO.
SubQuery will collaborate closely with the Acala development team to launch the SubQuery Network’s initial iteration as a smart contract in Acala’s EVM+. The business will test the EVM+ to its limits with speed and load testing as part of its incentive test network launch to ensure it can grow to billions of daily API calls.
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