Congrats to Gamma Strategies, last month’s Consumer Rewards winner 💪

By hosting their indexer on our Network, they got 10x their costs back (1000%)!

It’s that simple.

You could be next - just host a SubQuery Indexer, Subgraph, or consume dRPCs.

100 million $SQT in rewards is still live.

Ending Inflation, For Good

SubQuery is entering a new era of sustainability.

We started with an inflationary model to bootstrap the network, but that phase is over. It made sense when we needed to get Node Operators online, but not so much now when we’re running a real economy.

Under Tokenomics 2.0, we’re ending inflation - permanently. No more new SQT minted each year (previously 1.3% inflation). The total supply will be fixed at 10.20 billion tokens, meaning every token in circulation now truly matters.

Inflation created noise. It hid the real value of the SQT token and disconnected rewards from actual network activity. This change removes the silent dilution that has existed since launch and ties the SubQuery network’s growth directly to real adoption and value creation.

Instead of minting tokens, we’ll grow through usage, demand, and utility - just like any sustainable economy should.

This is how SubQuery builds lasting value for SQT holders.

🎤 Catch us live for an exclusive DeFi roundtable with top industry leaders. Bold ideas, and the future of finance all in one conversation

And not just with anybody! Grvt, Community3 and Haust Network will be joining us.

📅 Tuesday 18 November
⏰ 8:00AM UTC

https://x.com/i/spaces/1gqxvrbXgERxB?s=20

Web3 apps only feel modern because someone did the invisible work.

That someone is us 👋

Discover the hidden layer powering web3 technology: https://bit.ly/483BWnT

Taylor has eras.

SubQuery just finished its 92nd.

One dominates Spotify. The other quietly props up Web3.

The Monad mainnet is live and we've got the data.

Check us out if you're building on Monad and need an indexer 💜

Shifting Ownership to the Community

True decentralization isn’t just about governance. It’s about ownership.

Initially with Tokenomics 2.0, SubQuery will gradually distribute the existing Foundation treasury tokens as network rewards and over time shift to a full revenue-backed model.. this reduces Foundation ownership and increases the community’s share of the total $SQT supply.

That means more tokens in the hands of the people who actually power the network: Node Operators, Delegators, and Consumers.

Every reward cycle makes the network more decentralized in a measurable way. That’s what we want.. less control at the top, more distribution in the network.

Alchemy is sunsetting its Subgraph business.

Deploy your Subgraph on the decentralised SubQuery Network, no migration needed.

Deploy your Subgraph with one of our centralised partners like OnFinality or Zeeve (Traceye), no migration needed.

Deploy your way. Don't stress about your infra.

The Tokenomics 2.0 proposal is now live on our forum.

This post explains the full design, how the transition works, and includes the governance vote that will decide the next phase of SubQuery’s economic model.

If you care about how SubQuery evolves, then make sure to read, ask questions, give feedback and cast your vote.

Forum link below ⬇️
https://forum.subquery.network/t/smp-4-tokenomics-2-0-governance-proposal/693

A lot’s been happening at SubQuery…

Our last Community Call of the year hits Thursday 4 December at 8:30am UTC.

🔥 $SQT Tokenomics 2.0
🎁 $100 SQT giveaway

Let’s wrap 2025 properly.

SatLayer is turning Bitcoin activity into rewards at scale.

SubQuery is the data engine behind it.

👇 Read the new case study:
https://bit.ly/4iuOzNP

If you’re only joining one SubQuery call this year, make it this one.

Thursday 4 December, 8:30am UTC.

Tokenomics 2.0 breakdown, unreleased alpha, and a $100 SQT prize.

Join on X or jump in on YouTube ⤵️
https://www.youtube.com/watch?v=rQdk5sV3se4

🎥 Starting in 10 mins!

Join Brittany Seales for the FINAL community call of 2025.

She assures us there's both alpha and $SQT to be dropped 👀

Join us on X or YouTube!

SubQuery Tokenomics 2.0: A Letter on Sustainability, Maturity, and What Comes Next

Read the letter from Ian (our CTO) here

Santa came early this year, and he’s bringing juicy APY 🎅

Era 94 is complete, check out the network metrics below.

Today we launch AskSubQuery.

A new AI product that makes complex blockchain data simple, actionable, and instantly accessible.

Launching in closed beta to exclusive communities.

Read it, try it, give us your thoughts👇
https://subquery.network/blog/introducing-asksubquery-ai-that-answers-your-blockchain-questions

Tokenomics Update

It’s done: SQT inflation is now zero.

The minter is now set to the null address.

A massive step forward for decentralisation and value alignment.

Five eras to go until triple digits.

That's just 5 weeks until our Node Operators have been serving queries for 100 weeks.

Reminder that $SQT is at the centre of this network, keeping the systems running and the data data-ing.