SubQuery Network
SQT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
SubQuery Network (SQT) exhibits a mixed profile characterized by ongoing core development and a public team, contrasted sharply with severe distress in tokenomics, community adoption, and security. On April 12, 2026, an exploit occurred in the Settings contract on Base draining ~359M-382M SQT (~$134,000) from staking pools and delegators due to an un-audited code refactor. While the team provided transparent disclosure and remediated the contract, the network subsequently announced a consolidation and sunsetting of the decentralized network (May 2026 'The Next Chapter' transition toward asksubquery.xyz), removing token utility and instructing users to withdraw funds. Coupled with an unrecovered collapse in market cap to under $60,000, negligible trading volume, and insider unlock overhang through 2029, the token presents severe going-concern and structural risks.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About SubQuery Network (SQT)
SubQuery Network (SQT) is an ERC-20 token on the Ethereum and Base blockchains that has entered a sunsetting and consolidation phase following an announcement in May 2026. Originally launched to support a decentralized web3 infrastructure protocol, the project was designed to facilitate data indexing, RPC services, and AI infrastructure. The platform framework organized participation into four primary roles: Consumers, RPC Providers, Data Indexers, and Delegators, allowing participants to stake and delegate tokens across indexed projects.
The token originally launched with an initial total supply of 10 billion SQT and an annual inflation rate of approximately 1.3%. However, following the project's strategic transition toward asksubquery.xyz in May 2026, token utility was removed, and users were instructed to withdraw their funds from the network. The token remains subject to ongoing insider token unlock schedules extending through 2029.
On April 12, 2026, the network experienced a smart contract exploit on the Base network. An attacker exploited a vulnerability in the protocol's Settings contract—introduced during an un-audited code refactor—draining between 359,614,732 and 382,433,441 SQT (valued at approximately $134,000 at the time) from staking pools, 272 delegator wallets, deployment boosters, and a treasury balance. While the team restored contract addresses, implemented access-control fixes, and confirmed no private keys were compromised, the token subsequently suffered a near-total collapse in market valuation and liquidity.