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Turning Bitcoin Activity into Rewards: A Case Study on SatLayer

Tue Dec 02 2025

Introduction
The Challenge
Why SubQuery?
Key Metrics at a Glance
The Role of SubQuery in SatLayer
The Road Ahead for SatLayer
Conclusion

Introduction

SatLayer is positioning itself as the economic layer for Bitcoin, enabling the world’s most trusted asset to become fully programmable collateral. Through its Cube by SatLayer LST (Liquid Staking Token) product on Babylon Genesis, SatLayer is building infrastructure that extends Bitcoin’s capital efficiency across new financial primitives.

To support this vision, SatLayer requires reliable, real-time blockchain data to power its analytics infrastructure and user-facing rewards program. This is where SubQuery plays a critical role, delivering flexible indexing and querying capabilities across complex multi-chain environments.

This case study explores how SatLayer called upon SubQuery to index critical transactional data, streamline points calculations, and enhance user experience.

The Challenge

SatLayer’s rewards ecosystem depends on accurately tracking and processing transactional activity on the Babylon Genesis network. This data feeds directly into the SatLayer Rewards Program, where users earn Sats² points across multiple seasons based on participation and behaviour.

The core challenges included:

Indexing high-volume transaction data from Babylon Genesis
Processing historical and live data for multiple reward seasons
Ensuring accuracy and transparency for users viewing their points
Operating within the Cosmos ecosystem, where indexer tooling and support are limited

Without a robust indexing layer, calculating and distributing rewards at scale would become resource-heavy, error-prone, and difficult to maintain.

Why SubQuery?

SatLayer chose SubQuery as its indexing solution due to its ease of implementation and strong support for complex blockchain environments.

"SubQuery was easy for our engineering team to configure and index the required on-chain data, especially for blockchains within the Cosmos ecosystem like Babylon Genesis."
– Jia Jian Goi, Product Manager at SatLayer

Key reasons for choosing SubQuery included:

Fast and reliable indexing of Babylon Genesis transactions
Developer-friendly setup and configuration
Flexibility for evolving data requirements
Support for Cosmos-based ecosystems where alternatives are limited

SubQuery provided the infrastructure SatLayer needed to focus on building its economic layer, rather than managing data pipelines.

Key Metrics at a Glance

Indexed Network: Babylon Genesis (Cosmos-based)
Primary Use Case: Points calculation and distribution for Cube by SatLayer’s Rewards Program
Product Powered: Cube by SatLayer (BABY LST)
User Interface: https://cube.satlayer.xyz/
Data Usage: Historical and live transaction data across multiple seasons
Ecosystem: Cosmos-based + Babylon integration
Users: More than 4,500 users have accessed Cube by SatLayer powered by the SubQuery API
Entities Indexed: Cube LST indexer has 8,593 entities and SatLayer indexer has 1,232 entities.

The Role of SubQuery in SatLayer

SubQuery acts as the backbone of SatLayer’s data processing layer for Babylon Genesis, enabling seamless extraction, transformation, and utilisation of blockchain data.

What’s being indexed?

SatLayer uses SubQuery to index transaction data from the Babylon Genesis network, specifically related to activity tied to Cube by SatLayer. This data directly informs how Sats² points are calculated and distributed.

How the data is used

Indexed data (via SubQuery) flows into SatLayer’s internal points processing service, which evaluates user participation across different reward seasons. This processed data is then surfaced to users via the Cube dashboard, allowing them to view their accumulated points and track progress in real-time.

Explore Indexers

Developers and community members can explore SatLayer’s live indexers here:

Cube LST Indexer https://explorer.subquery.network/subquery/satlayer/cube-lst
SatLayer Core Indexer https://explorer.subquery.network/subquery/satlayer/satlayer

Visual Architecture

Example SubQuery GraphQL queries

The below query gets all the snapshots of a user (bbn1zvesudsdfxusz06jztpph4d3h5x6veglqsspxns2v2jqml9nhywsv7g40m). The query will return the snapshot id, the users address, the amount of the order and the order id.

Image showing an example query from Satlayer’s SubQuery indexer. The indexer will return the requested blockchain data.

Here is the data returned from the example query:

Image showing the results of an example query from SatLayer’s SubQuery indexer. The indexer is returning the requested blockchain data.

Cube dashboard interface

Below is the Cube dashboard UI which is being powered by the above queries to access reliable and accurate on-chain information.

Image showing the UI of SatLayer’s Cube product where the data is powered by their SubQuery indexer.

These visuals demonstrate how on-chain data flows from Babylon Genesis through SubQuery and into SatLayer’s user-facing platforms.

The Road Ahead for SatLayer

SatLayer continues to expand its roadmap as it evolves into Bitcoin’s programmable economic layer, focusing on scalable, secure, and user-centric financial innovations. While leveraging strategic partnerships such as SubQuery for reliable data processing when needed, SatLayer is primarily driving its protocol development, ecosystem integrations, and reward program enhancements to unlock Bitcoin’s full economic potential and incentivize user participation.

Conclusion

By integrating SubQuery into its data infrastructure, SatLayer has established a scalable, efficient, and developer-friendly indexing solution that powers its rewards program and user experience.

In the Babylon genesis network (a Cosmos environment), SubQuery delivers the reliability required for SatLayer to confidently scale its operations and bring Bitcoin closer to becoming fully programmable collateral.

This partnership highlights how robust data indexing is not just a backend requirement — it is a foundational layer that enables innovation, transparency, and trust in next-generation financial systems.

About SubQuery

SubQuery Network is innovating web3 infrastructure with tools that empower builders to decentralise without compromise. SubQuery’s infrastructure network offers both data indexers and RPCs — fully decentralised, production-ready, and designed for scale.

Our fast, flexible, and open data indexer supercharges thousands of dApps on nearly 300 networks. Through innovations like AI-assisted development via the SubQuery SDK and Model Context Protocol (MCP) integration, SubQuery is making it easier than ever to build, deploy, and maintain blockchain indexers. We’re not just a company — we’re a movement driving an inclusive and decentralised web3 era, together.

About Satlayer

The new financial system, built on Bitcoin: SatLayer is the economic layer for Bitcoin, making the best asset now fully programmable.

Bitcoin isn’t idle gold anymore. SatLayer leverages restaking primitives to evolve Bitcoin into an active reserve asset, anchoring secure, capital-efficient DeFi and RWA systems. As the only restaking partner for Sui and Berachain — and the exclusive restaking partner of Babylon Labs—SatLayer collaborates with top revenue-generating projects to develop use cases like on-chain insurance and liquidity float, driving real and sustainable yield.