Get Started Guide: Delegators (Earn Rewards by Curating Nodes)
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Subsquid is a decentralized data access layer that unlocks granular, permissionless data access at a petabyte scale for developers, analysts, and researchers. Subsquid’s role in Web3 is comparable to how Google unlocked Web2 by accumulating the whole of Web data and making it queryable. However, there are fundamental and notable differences:
- The establishment of a credibly neutral access layer with a lean, simple low-level interface to consume the data is key to programmatic adoption (think HTTP protocol).
- The value of Web3 data increases exponentially when it is not fragmented, cementing the network effect.
The value-per-byte of on-chain and Web3 data is orders of magnitude higher than in Web2, and is consumed by smart contracts, indexers, analytics APIs, and edge technologies like AI agents.
The Subsquid Modular Stack
Very simply put, Subsquid comprises a modular stack which includes a decentralized data lake, a decentralized query engine, and developer tools to build on it. The data lake holds all the blockchain data. To get data from the data lake, users write queries, which are answered by worker nodes. As the name suggests, these nodes ‘work’ to respond to the query and retrieve the requisite data. Workers are incentivized to do so through network rewards in the form of SQD tokens.
However, in this system there needs to be a trustless way to curate the best behaving and most performant worker nodes. This is the role of delegators.
What is a Delegator?
In Subsquid Network, a delegator is an individual or entity that delegates their SQD tokens to a specific worker node within the network. By doing so, they signal the reliability of the worker node and also earn a portion of the rewards generated by that node.This network role can be summed up as follows:
- Signaling Reliability: By delegating their tokens to a particular worker node, delegators are essentially indicating that they trust the reliability and performance of that node within the network.
- Incentivizing Performance: Delegators play a role in incentivizing performance and reliability within the network. By choosing to delegate tokens to specific worker nodes, they encourage those nodes to maintain high levels of uptime, efficiency, and responsiveness to client queries.
- Economic Participation: Delegators actively participate in the economic ecosystem of the Subsquid Network by staking their tokens and contributing to the overall security and reliability of the network infrastructure.
How to Become a Delegator
Buy SQD
Currently, SQD is traded on the following platforms: Bybit, KuCoin, Gate.io, MEXC, CoinList, and CoinEX. Note that SQD is on Arbitrum. When withdrawing, ensure that you are withdrawing to a valid Arbitrum wallet address. For MetaMask users using Arbitrum for the first time, here is how to add the network to your wallet. You'll also need some ETH on Arbitrum to pay transaction fees.
Delegate SQD
- Ensure you have SQD tokens in your wallet.
- Enter the Dashboard for an overview of the available worker nodes you can delegate to.
- Pick a delegator and click on Delegate
- Your wallet should pop up. Sign the transaction to confirm. Wait a few seconds, and your delegation will be confirmed.
To check the state of your rewards and how the worker is doing, go to the Delegations section. All your delegations will show up there. Congrats you have delegated to your first worker node! 🎉
Specify the amount of SQD and hit the Delegate button
Connect to the Subsquid App. You should see the SQD under Assets
Claim Rewards
- To claim rewards, open the Subsquid Network App and go to Assets.
- That’s all. Your claimed rewards should now show up on your Balance.
Confirm in the popup and sign in your wallet to finalize the claim.
Right next to your balance, you should see a green Claim Button. Click on it to claim your rewards
For a more in-depth explanation of what we’re up to at Subsquid, check out the Whitepaper.