We are very excited to announce that Illusionist Group has recently made an investment in SubSquid – An open-source framework for building powerful and tailored GraphQL APIs for blockchain state history.
?We are humbled to have the backing of an absolute dream-team of investors, led by @hypersphere_, that help us push the limits of #APIs in #web3!? Read more about our seed round and who is officially part of the #squid squad here: https://t.co/Ac5NlV8308? pic.twitter.com/hlGoeyWk4O
— subsquid (@subsquid) November 11, 2021
Without accurate, reliable data, DApps won’t work. Unfortunately for developers, data from decentralised sources is, by its design, harder to obtain than information from centralised sources. Retrieving data from a centralised source is the equivalent of using the search function on an internal database which will return the data you’re looking for instantly. However, the risk associated with centralised sources is their single point of failure — if the network goes down, the data is irretrievable.
Understanding this, the mission of SubSquid is to unlock the complexity and expressiveness of Web 2.0 APIs in a decentralized way, relying on accountability and governance instead of redundancy of the services provided by anonymous network nodes running identical software.
Seeing Subsquid’s potentials, Illusionist Group believes this will be a game changer in the near future. With the use of HYDRA Indexer and HYDRA Indexer Gateway protocols, Subsquid definitely can feature fast development cycles and we are more than happy to accompany them on their development path.
Tony Montana – Co-founder of Illusionist Group, expressing his thoughts about this investment: “Illusionist Group always has a strong belief in innovative projects, and we hope this investment will be the basic foundation for SubSquid, as they work to deliver an open-source framework for building powerful and tailored GraphQL APIs. We will always support and help them to become one of the most cutting – edge projects of the Polkadot ecosystem in particular and in crypto space in general”.
About SubSquid
Subsquid is an open-source framework for building powerful and tailored GraphQL APIs for your blockchain state history. With its combination of power, ease of use and reliability, Subsquid is poised to take blockchain development to the next level. A DApp is only as good as its data, and with Subsquid developers can be sure that their queries are answered efficiently and effectively thanks to its game changing two-tier indexing and retrieval process.
About Illusionist Group
Illusionist Group is the VC behind PolkaWarriors – one of the biggest communities of $DOT hodlers around the world. It is a global blockchain and digital asset investment firm, which focuses on ventures, tokens, projects, as well as the growth of the cryptocurrency market. Illusionist Group has extensive history in global fund distribution, combined with our strong relationships and partnerships with investors, venture capitals, leading academic institutions and fund platforms can create values to support technical teams having robust and innovative projects, which helps to grow a larger and stronger blockchain ecosystem.
