Owning SQD: Uses, Networks and Risks

SQD is the token associated with Subsquid Network, a decentralized data service for blockchain developers. The network is designed to let applications query and index blockchain data without relying solely on centralized data providers. Its stated uses for SQD include paying for data queries, staking to support node operation, and participating in governance.

That gives the token a role within the network, but it does not make SQD a share in Subsquid or a claim on its revenue. The value of holding it depends in part on whether developers and other users adopt the network and whether its token uses remain relevant. Before using SQD for a query or staking, check the current network instructions: minimum amounts, lockups, rewards, and fees can change, and Subsquid’s published token terms should be your guide rather than assumptions based on other tokens.

SQD is issued on Arbitrum, BNB Chain, and Base. It is not listed as the native token of any of those chains, so the network you select matters when you send or receive it. A wallet needs to support the particular EVM network holding your SQD; check the asset and network details in your wallet before making a transfer.

There is no single wallet requirement implied by the token itself. You can use a self-custody wallet that supports the relevant chain, or a custodial service that lists SQD on that network. These options carry different trade-offs: with self-custody, you control the recovery phrase but must protect it; with a custodian, access depends on the provider. Never send SQD to a deposit address for a different network just because the token symbol matches. Confirm the receiving platform supports the exact chain, and consider a small test transfer when appropriate. A wrong-network transfer may be difficult or impossible to recover.

SQD has a maximum supply of 1.337 billion tokens. About 1.312 billion were circulating as of November 8, 2026, leaving roughly 25 million outside the reported circulating supply. The total and maximum supply were both reported as 1.337 billion on that date. Supply figures can change as tokens enter circulation, so check current figures before making decisions based on them.

As a moving-market snapshot, SQD traded at about $0.0177 on November 8, 2026, with a market capitalization of about $23.2 million. Those figures are not a valuation forecast and can become outdated quickly. The token had reached an all-time high of about $0.285 on June 11, 2025, and an all-time low of about $0.0171 on November 5, 2026. Past prices do not indicate what SQD will do next. If you hold it, consider whether you can tolerate sharp price changes and whether your position is small enough for your financial situation.

Treat SQD like any other crypto asset: protect your wallet recovery phrase offline, keep it private, and do not enter it into a website or share it with someone claiming to provide support. Use a wallet password and device security, and verify the chain and recipient address before signing or sending. A token symbol alone is not enough to confirm that an asset or contract is genuine.

SQD carries several risks. Its price can fall sharply, and demand may depend on the network attracting developers and sustaining useful data services. Sending tokens on the wrong chain can cause a loss. Smart-contract, wallet, bridge, and platform failures can also affect access or funds. Staking may involve lockups, changing rewards, or operator-related risks; check the current terms before committing tokens. Do not treat a claimed staking return as guaranteed, and verify contract addresses through Subsquid’s official channels before interacting. Only hold an amount you can afford to lose.