According to Subquid, its mission is to unlock the complexity and expressiveness of Web 2.0 APIs in a decentralized way, relying on accountability and governance in- stead of redundancy of the services provided by anonymous network nodes run- ning identical software (see e.g. TheGraph).
The SQD token is the main unit of accounting within Subsquid DAO. It has multiple use-cases can be described as a hybrid payment, governance and work token.
• Payment medium. SQD is used to collect the fees and distribute across the DAO treasury and the various worker roles for the provided services.
• Work token. In order to take up a role one should stake SQD token, the rewards are distributed based on the stake and actual amount of the work done (as calculated by the Cobb-Douglas formula).
• Delegation. SQD token holders can delegate their tokens to any role to get a share of the fees.
• Governance. SQD token holders periodically vote for electing a govern- ing council, responsible for the development of the protocol, the economic parameters and dispute resolutions.
