The Graph makes it easy to access blockchainย tech data without the involvement of third parties. It queries and organizes data from different blockchainsย teck. So developers can use this data to build APIs.
We recently published an introductory post to the Graph Protocol. Thisย post takes a dive into the platformโs ecologicalย system and how to stake GRT.
Have you seen The Graphโs brand new homepage yet?
Itโs now easier than ever to visualize how The Graph works & discover how to get involved
See it for yourself
โ The Graph (@graphprotocol) May 22, 2023
Introduction to the Graphโs Ecosystem
The Graphโsย ecosystem is comprised of four roles: developers, indexers, delegators, and curators. And, indexers stake $GRT, the native Graph cryptoย token, and are rewarded for accurately indexing subgraphs through query and index bonus. Then, delegators stake $GRT to indexers in exchange for a share of the indexerโs query charges. Curators indicate that a subgraph is of extraordinaire quality and should be indexed by the network.
Letโs look deeper at these protocol roles:
- Delegators: This group of participants stakes their GRT cryptoย tokens with the indexers and gets a part of the indexer query charges. Delegators are subject to a 0.5 percent tax on each delegation.
- Indexers: They provide indexing and querying services as node operators. In return, indexers receive bonus and earn query charges. Nonetheless, they have to stake 100,000 GRT cryptoย tokens. This cryptoย token will be slashed if the indexers carry out practices deemed harmful to the network.
- Curators: This group helps identify the subgraphs the Graph Explorer hasย toย index and receives 10 percent of the query charges. Data consumers, community members, and subgraph developers who want to signal their subgraphs can serve as curators. Nonetheless, they have to pay a deposit tax of 1 percent to curate. Theyโll likewise receive lower charges if they curate subgraphs of low quality. Additionally, theyโll pay a tax of about 0.5โ1 percent if a subgraph fails.
- Developers: Developers fall on the demand side of the ecologicalย system. They create subgraphs and publish them to the Graph Network. Furthermore, developers query live subgraphs with GraphQL to power their applications.
Congrats to @graphprotocol on reaching 1000 subgraphs!
A major milestone that outlines theย expansion and potential of the decentralized ecologicalย system. With diverse data and interactions, futureย ofย the decentralized applications looks promising.Keep pushing the boundaries! pic.twitter.com/ltHwgVZe0cโ Andy S.| TheGraphGermany (@German_TheGraph) May 22, 2023
How to Stake GRT
There are different ways to earn GRT: Staking, lending, and yield farming. And, letโs talk about staking. You can stake GRT on a centralized exchange like Binanceย Cryptoย exchange. Here are the steps:
- Log in to your Binanceย Cryptoย exchange account if you have one, or create one if you donโt.
- Go to the โFinanceโ option and the โ Binanceย Cryptoย exchange Earnโ option.
- Move to the โLocked Stakingโ option and click on the โView moreโ button.
- Select GRT from the list displayed. Then, fix the duration and then click on โStake Now.โ
- Confirm details like duration and available amount.
- Input the amount you want to stake and click on โConfirm purchase.โ
Weโre happyย to reveal our support for @graphprotocol $GRT staking!
Earn up to 8 percent in yearly bonus, announced weekly with instant stake & unstake.
* Bonus subject to change. Staking is not available to clients in Unitedย States & CA. pic.twitter.com/eM6uRI0Bkt
โ Kraken Exchange (@krakenfx) November 22, 2022
What is the Graph Explorer?
The Graph Explorer is where you can view every subgraph that has been deployed to the Graph Network. The explorer allows you to see the subgraphโs details, including its metadata and participant statistics. The curators can then select a subgraph and deposit GRT cryptoย tokens in it so that it is signaled to the indexers. The Graph Explorer has tabs for:
- Subgraphs.
- Indexing.
- Delegating.
- Curating.
Furthermore, the explorer allowsย all network users toย viewย their user profiles. The Graph Explorer likewise displays the past and active results of each activity and details of the bonus earned.
Conclusion
The Graph has unique potential as a querying service. Nonetheless, youย willย must do your own research before investing. As of thisย post, GRT trades at $0.1215.
