CrossFi partners with Subsquid to be its data provider to power Next Generation dApps

Feb 16, 2024, San Francisco

Cross Finance is excited to announce its newest partner, Subsquid, as its L1 blockchain data provider. Subsquid rapidly and cost-effectively retrieves blockchain data from 100+ chains using its decentralized data lake and open-source SDK to power billion-user dApps.

Cross Finance is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of traditional banking and blockchain. Cross Finance seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular architecture based on Cosmos Tendermint.

Subsquid is the only data network that emphasizes a modular approach to indexer development. Developers retrieve data from the decentralized data lake using Squid SDK, a Subgraph, or their preferred framework, utilizing the most appropriate infrastructure for their project. Subsquid offers an extremely permissive open-source indexing tool, allowing developers to customize their data sources and targets while applying their custom logic. Another crucial component is the Subsquid network’s economic model, designed to bring data costs for Web3 developers to zero.

“Subsquid has made a name for themselves in the Web3 space by setting a new standard for blockchain data. Their decentralized query engine is a horizontally scalable data lake for batch queries by developers. It is quick, cost-efficient and tested rigorously. They already support 5K+ dApps, 100+ networks, and deploy 50K+ indexers. They are the leader in the Web3 data provider space and a clear choice to partner with CrossFi.”

Alexander Mamasidikov

CEO, Chief ideologist & coordinator of the team

The Subquid Network and its complementary products like Squid SKD, Subsquid Cloud and Subsquid Firehose are top picks for developers to use in their projects today.

“By aggregating all the data spread across Layer-2s, different modular chains, and from decentralized storage solutions, Subsquid tackles the data access problem and makes it easy to work with large amounts of data through its specialized data lakes.”

Dmitry Zhelezov

CEO & Co-Founder Subsquid

CrossFi chain and Subsquid are based on a modular infrastructure because it provides security, scalability, and decentralization. This shift to a modular infrastructure enables developers to store, read, write, and access data across chains and networks to build next-gen dApps on the CrossFi chain at a fraction of the cost and lightning speeds.

To learn more about Subsquid visit: https://subsquid.io

About CrossFi

CrossFi is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of banking and blockchain. CrossFi seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular architecture based on Cosmos Tendermint. The Cross Finance foundation, rooted in Ethermint and Evmos, ensures interoperability between blockchains, transaction anonymity, and the integration of EVM-compatible DApps. The tandem operation of two native coins, MPX and XFI, fortifies CrossFi's tokenomics foundation, providing users with a seamless and robust financial experience.

About Subsquid

Subsquid is a data network designed for the future of Web3: rapidly and cost-efficiently retrieve blockchain data from 100+ chains using Subsquid’s decentralized data lake and open-source SDK to build billion-user dApps.

• Infinitely scalable modular architecture: Subsquid is the only data network that emphasizes a modular approach to indexer development. Developers retrieve data from the decentralized data lake using Squid SDK, a Subgraph, or their preferred framework, utilizing the most appropriate infrastructure for their project.
• Flexibility for next-gen use cases: Subsquid’s extremely permissive open-source indexing tools allow developers to customize their data sources and targets whilst applying their own custom logic.
• “Spotify for Web3 data:” The Subsquid Network’s economic model is designed to gradually bring data costs for Web3 developers to zero.