So you heard the @graphprotocol is providing accessible on-chain data to over 3400+ subgraphs.
"What Google does for search, The Graph does for blockchains."
Let's explore what this means and how $GRT plays a critical role in this ecosystem 👨🚀
Subgraphs are the lifeblood of the network.
Consumers make queries (or data requests) to relay info like price, volume, and liquidity.
They temporarily lived on a hosted service, allowing for free deployment while the decentralized network was being built out.
Enter $GRT 🔽
With $GRT, Indexers run nodes to host subgraphs in exchange for issuance and query fees.
Indexers select subgraphs to index based on curation.
To become an indexer, node operators post a minimum self-bond of 100k tokens.
Curators deposit $GRT to subgraph bonding curves and earn a portion of query fees + curation rewards.
The more $GRT deposited to a subgraph, the more valuable that data is perceived to be and the more query fees it is thought to earn.
Curation is set to launch in January.
Delegators delegate $GRT to an Indexer in exchange for a portion of query fees and issuance.
Delegation allows passive, non-techincal users to secure the network without running a node.
Indexes set a fixed Fee and Reward % they keep before passing earnings to Delegators.
So where does demand come in?
- Consumers buy $GRT to pay for queries
- Indexers stake $GRT to run a node
- Curators deposit $GRT to subgraph bonding curves
- Delegators delegate $GRT to Indexers
Plus, a % of query fees, withdraw taxes and unclaimed rebates are burned.
Indexers need to know where Curators are depositing $GRT.
Curators need to know which bonding curves are most lucrative to put their $GRT to work.
Delegators need to know which Indexers are making the most query fees, but charging the lowest commissions to earn the most $GRT.
I'm most excited to be a Curator.
Each bonding curve has an implied market cap based on the amount of query fees that subgraph will earn.
Curators can calculate a return based on those fees to determine if the curve is over or under signaled.
Practice writing as much as possible. Don't try and write for an audience, use writing as a tool to take what you learn and explain it in the simplest way possible.
Hone your craft and spread the word about new trends 📝
If you need a job done constantly, Keep3r provides a way to post it on a public job board, and allow keepers to pay the gas to perform it in exchange for a reward.
Jobs can be paid in #KP3R, $ETH, or tokens like $AAVE