Subsquid Partners with Composable Finance in Pursuit of Truly Cross-Chain DeFi
The Subsquid and Composable Finance core teams are excited to reveal today a new collaborative effort in the pursuit of truly cross-chain, cross-layer, decentralized finance. So far, developers from both teams have worked together to launch a Subsquid Archive on the Composable Finance Kusama parachain, Picasso. Presently, a Squid API is being built with the intention of future-proofing the extraction of statistics for Pablo, Picasso’s first DEX. Overall, the two projects are looking forward to an ongoing collaboration that will include the integration of Subsquid’s data tools into Dapps using Picasso as a finality layer.
Subsquid is a blockchain indexing solution and API framework that gives developers and analysts working across networks access to the data they need. With a modular architecture composed of Archives, which pre-index blockchain data for builders down the pipeline, and easily configurable, serverless, Squid APIs, Subsquid offers the most flexible and resource-efficient backend framework for Dapps.
Composable Finance is a polymath team of tech and finance experts that develops comprehensive cross-chain, cross-layer, infrastructure for DeFi. In addition to the Substrate-based Picasso finality layer, Composable has built the Cross-Chain Virtual Machine (XCVM). Composable XCVM is a single, developer-friendly interface that, among other things, manages interactions between different bridges, takes care of routing, and initiates call-backs into smart contracts.
Details of the initial integrations can be found in the excellent documentation prepared by Composable’s software engineers. To summarize, Composable needed an indexing solution that could support complex queries such as aggregations on top of the data produced on multiple potential parachains. While Subsquid’s integrations team was deploying an Archive for Picasso, Composable’s developers got to work developing a Squid API locally for Pablo DEX, on their Dali devnet.
The current Squid API, as configured by Composable, will be able to produce aggregated data points for Pablo DEX, such as volume, total liquidity, and the number of tokens sold and bought over any given time period. The API will also be capable of producing transaction histories in terms of both base and quote currency.
“Composable Finance is one of the most technologically advanced DeFi projects in the space,” remarks Dmitry Zhelezov, CEO of Subsquid. “I am very happy to witness how cross-chain-native DeFi is becoming a reality and how we at Subsquid can help with indexing fragmented on-chain data through the implementation of our open-ended SDK.”
0xbrainjar, CEO of Composable Finance added: “Our intention is to modularize functionality through interoperable infrastructure — composing a single state machine across multiple blockchains. Doing so requires a team like Subsquid to truly allow the user to understand the level of abstraction and reduction of complexity they are experiencing. We are pleased to work with a team that shares these values, and is excited to collaborate on such a vision.”
The results of this integration will become more apparent to DeFi users as Dapps like Pablo begin to roll out. Leading up to these releases, the two teams intend to organize multiple co-marketing collaborations, including AMAs and workshops.
Subsquid is a blockchain data processing solution that enables Web3 builders to gain access to on-chain information on their own terms. Featuring modular architecture and decentralized governance, this is the most flexible, developer-friendly, and resource-efficient way to build, test, and deploy customized APIs for all blockchain-facing applications.
About Composable Finance
Composable Finance is creating infrastructure to unlock the multi-layer and multichain future of Web3. At present, the lack of compatibility between blockchains and layers results in disparity and inefficiency. Developers are very restricted in what they can build with siloed infrastructures, and users are forced to navigate complicated and lengthy processes if they want to utilize multiple chains or layers. Composable’s products break down the barriers that DeFi creators and users currently face.