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The Graph

GRT

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About The Graph

GRT is an Ethereum token that powers The Graph, a decentralized protocol for indexing and querying data from blockchains. Just as Google indexes the web, The Graph indexes blockchain data from networks like Ethereum and Filecoin. This data is grouped into open APIs called subgraphs that anyone can query.

The Graph (GRT) is an indexing protocol that aims to facilitate data querying for networks such as Ethereum and IPFS. It is designed to power numerous applications in the DeFi and broader Web3 ecosystem. The Graph allows anyone to build and publish open APIs, known as subgraphs, which applications can query using GraphQL to retrieve blockchain data. The Graph currently supports indexing data from Ethereum, IPFS, and POA, with the intention to include more networks. The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program.

The Graph operates by using Graph Token (GRT), a work token that is locked up by Indexers, Curators, and Delegators to provide indexing and curating services to the network. GRT is an ERC-20 token on the Ethereum blockchain, used to allocate resources in the network. Active Indexers, Curators, and Delegators may receive compensation from the network proportional to the amount of work they perform and their GRT stake. Indexers are compensated with indexing rewards and query fees, while Curators receive a portion of query fees for the subgraphs they signal on. Delegators receive a portion of the compensation received by the Indexer they delegate to.

The Graph aims to bring reliable decentralized public infrastructure to the mainstream market. It is designed to ensure the economic security of The Graph Network and the integrity of data being queried. The Graph can be used by developers to build and publish open APIs, called subgraphs, that applications can query to retrieve blockchain data. This eliminates the need for third-party facilitators, making it easier for developers to get started building on The Graph. The Graph has been used by thousands of developers for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland, and many others.

The Graph was founded by Yaniv Tal (project lead), Brandon Ramirez (research lead), and Jannis Pohlmann (tech lead). The founders have engineering backgrounds and have worked together for 5-8 years. Tal and Ramirez studied electrical engineering at USC and worked together at MuleSoft, an API developer tools company that underwent an IPO and sold to SalesForce. They previously co-founded a developer tools startup together and have spent a significant portion of their careers working to optimize the API stack. The Graph was born from this vision to create immutable APIs and data access, using the GraphQL query language. To support network development, The Graph received contributions from community members, strategic VCs, and influential individuals in the blockchain community.

The Graph strives to simplify the process of retrieving specific information from the blockchain, aiming to reduce the necessity of direct interaction with complex smart contracts. The Graph achieves this by creating and maintaining data indexes, known as subgraphs, which are intended to provide an organized way to access blockchain data. These subgraphs function as filters, allowing developers to select and arrange data from particular blockchain networks or smart contracts. This is done with the intention of potentially lessening the time and resources required for building on blockchain networks. The Graph also provides a GraphQL API that enables developers to query blockchain data using a familiar and expressive syntax, with the aim of potentially reducing the necessity of writing complex code for data retrieval and filtering, and with the intention of potentially facilitating the development process.

Indexers, Curators, and Delegators each play a unique role in The Graph's network. Indexers operate nodes in the network, providing indexing and query processing services. They stake Graph Tokens (GRT) to participate and receive non-monetary incentives for indexing and query processing services. Curators, on the other hand, identify high-quality subgraphs and signal to Indexers which ones should be indexed. They stake GRT in a bonding curve on specific subgraphs, receiving non-financial incentives from the subgraphs they signal on. Delegators are network participants who delegate their GRT to one or more Indexers. They contribute to securing the network without running a Graph Node themselves. By delegating to an Indexer, Delegators participate in the network and receive non-financial incentives. The capacity of an Indexer to process queries is influenced by the Indexer's own (and delegated) stake and the non-monetary value assigned to each query.

The GRT token has a specific role within The Graph ecosystem, serving as the primary utility token that incentivizes protocol participants and facilitates network operations. GRT is used to provide non-monetary incentives to Indexers, Curators, and Delegators who contribute to the network's function and security. Indexers, who operate nodes and process queries, stake GRT tokens to participate in the network. Curators, who evaluate the quality of subgraphs, signal their trust in a subgraph by staking GRT tokens and receive a portion of query fees as non-monetary incentives. Delegators, who may not have the technical skills to participate as Indexers or Curators, delegate their GRT to Indexers, thereby enabling the Indexer to serve more queries on more subgraphs. GRT is used as a medium of exchange within the network, with users paying for queries in GRT. This multi-faceted use of GRT within The Graph ecosystem indicates its role in maintaining and securing the network.

Yes, developers have the ability to integrate and query data using The Graph for their decentralized applications (DApps). Developers can create 'subgraphs', which are open APIs that index, map, and query on-chain data using GraphQL, the native query language of the protocol. This approach seeks to reduce the necessity of running local or hosted nodes. Instead, the subgraphs are deployed to a registry, and subsequently, Indexers who stake and run a Graph Node will index the subgraph. This process allows anyone to create and deploy a subgraph, and receive The Graph’s native token, $GRT, as a non-monetary incentive for running a Graph Node. This process facilitates developers in constructing applications by utilizing the capabilities provided by The Graph’s support.

The Graph's network aims to maintain security and data integrity through a variety of strategies. Data integrity, which involves ensuring the accuracy and consistency of data throughout its lifecycle, is a crucial aspect of The Graph's security measures. This process includes quality control measures, integrating data from various sources, validating data accuracy, removing duplicate entries, and ensuring proper preservation and storage. The Graph also manages privileged access, implements cybersecurity measures, and conducts regular audits. In terms of granular security, The Graph uses a hierarchical and compartmentalized system, which allows users of different access levels to view only certain portions of the database. This approach seeks to limit unauthorized access and strives to uphold the integrity of the data. The Graph utilizes graph theory concepts to balance data access and security in a data environment that emphasizes connectivity. These measures collectively strive to maintain data throughout its lifecycle, contributing to the network's reliability and facilitating decision-making based on the available data.

The Graph enables developers to construct open APIs, referred to as subgraphs, which applications can query using GraphQL. The Graph protocol has the capacity to index and query a broad spectrum of data types from various blockchains. This encompasses data from intricate smart contracts, events triggered by these contracts, and other on-chain activities. The Graph's protocol is designed for indexing data that is challenging to query directly from the blockchain. For instance, it can process numerous transfer events emitted, interpret the metadata from IPFS using the Token ID and IPFS hash, and subsequently aggregate it. This facilitates the execution of various types of queries and operations such as aggregation, search, relationships, and non-trivial filtering that are not feasible by interacting directly with the contract itself.

A number of real-world projects and DApps are making use of The Graph for their data requirements. For example, some decentralized exchanges utilize The Graph to obtain current information about currency prices, liquidity pools, and transaction volumes. Another instance is an NFT initiative that employs The Graph to carry out complex queries and operations that are not feasible directly on the blockchain. 2key Network, a platform that aims to create decentralized referral networks, uses The Graph to index and query data from the Ethereum blockchain. These instances demonstrate how The Graph is being employed in various blockchain-based projects and applications.

The Graph has established several strategic partnerships within the blockchain industry to work on its services and expand its reach. One such collaboration is with Chainlink, a decentralized oracle network. This partnership aims to allow The Graph to function as a bridge between Chainlink's on-chain data and the rest of the world, intending to offer improvements to both platforms. Another collaboration is with Edge & Node, the initial company developing The Graph. This collaboration intends to contribute to the development of new features and improvements to The Graph's network. The Graph has also partnered with Dar Blockchain to foster Web3 growth in the Middle East and North Africa (MENA) region. This partnership seeks to nurture innovative projects and influence the technological landscape in the MENA region. The Graph has also collaborated with Web3 Sabha to launch an education initiative in the Punjab region, which aims to provide the area with Web 3.0 knowledge. These partnerships reflect The Graph's intention to foster innovation and promote the broader adoption of blockchain technology.

The Graph addresses scalability challenges in decentralized indexing by utilizing a decentralized network powered by blockchain technology. This network uses open-source application programming interfaces (APIs) known as subgraphs, which are indexes that organize data within a global blockchain graph according to a user's query. The Graph's protocol enables developers to quickly access and analyze data from blockchain networks, which may facilitate the creation of decentralized applications (DApps). The Graph also uses GraphQL technology to describe each API’s data in greater detail, allowing for efficient data aggregation. By providing an interface for developers to access and query data stored on decentralized networks, The Graph may facilitate the creation of DApps on that network. This approach strives to streamline the process of indexing and querying blockchain data, potentially reducing the time and resources required for developers.

Market

Market stats

Market cap

$2.5B

Volume (24h)

$78.9M

Circulating supply

9.5B GRT

Typical hold time

76 days

Popularity

#44

All time high

$2.90

Price change (1h)

+0.61%

Price change (24h)

-3.3%

Price change (7d)

-1.14%

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Social

Some highlights about The Graph on social media

744 unique individuals are talking about The Graph and it is ranked #228 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, The Graph has an average sentiment score of 3.4 out of 5. Finally, The Graph is becoming more newsworthy, with 0 news articles published about The Graph. This is a 0% increase in news volume compared to yesterday.

On Twitter, people are mostly bullish about The Graph. There were 52.4% of tweets with bullish sentiment compared to 6% of tweets with a bearish sentiment about The Graph. 41.6% of tweets were neutral about The Graph. These sentiments are based on 250 tweets.

On Reddit, The Graph was mentioned in 4 Reddit posts and there were 9 comments about The Graph. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

744 people

Volume rank

#228

Average Sentiment

3.4 out of 5

Twitter

Reddit

Post Score

15

Comment Score

17

Coinbase Bytes

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The Graph is on the decline this week.

The price of The Graph has increased by 0.61% in the last hour and decreased by 3.30% in the past 24 hours. The Graph’s price has also fallen by 1.14% in the past week. The current price is $0.26 per GRT with a 24-hour trading volume of $78.93M. Currently, The Graph is valued at 90.98% below its all time high of $2.90. This all-time high was the highest price paid for The Graph since its launch.

The current circulating supply of The Graph is 9,482,922,664.565 GRT which means that The Graph has as total market cap of 9,482,922,664.565.

FAQ

What is the current price of The Graph?

We update our The Graph to USD currency in real-time. Get the live price of The Graph on Coinbase.

What is the market cap of The Graph?

The current market cap of The Graph is $2.47B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of The Graph?

The all-time high of The Graph is $2.90. This all-time high is highest price paid for The Graph since it was launched.

What is the 24 hour trading volume of The Graph?

Over the last 24 hours, the trading volume of The Graph is $78.93M.

What other assets are similar to The Graph?

Assets that have a similar market cap to The Graph include First Digital USD, Arbitrum, Mantle, and many others. To see a full list, see our comparable market cap assets.

How many The Graph are there?

The current circulating supply of The Graph is 9.5 billion.

What is the typical holding time of The Graph?

The median time that Coinbase customers hold The Graph before selling it or sending it to another account or address is 76 days.

What is the relative popularity of The Graph?

The Graph ranks 6 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of The Graph?

Currently, 96% of Coinbase users are buying The Graph. In other words, 96% of Coinbase customers have increased their net position in The Graph over the past 24 hours through trading.

Can I buy The Graph on Coinbase?

Yes, The Graph is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy The Graph guide.