GRT is the ticker symbol for the cryptocurrency called "The Graph." The Graph is a decentralized protocol for indexing and querying data from blockchain networks, making it easier for developers to access and use blockchain data in their applications.
The Graph was created by a team of developers led by Yaniv Tal, Jannis Pohlmann, and Brandon Ramirez. The project was initially conceived in 2017 and was launched in 2018 as a decentralized indexing and querying protocol for Ethereum. The team behind The Graph has since expanded to include dozens of developers and contributors from around the world.
The Graph has also received backing from a number of prominent blockchain investors, including Framework Ventures, ParaFi Capital, Coinbase Ventures, and Digital Currency Group. In addition, The Graph has formed partnerships with a number of leading blockchain projects, including Uniswap, Aave, and Synthetix, to help developers access and use their data on The Graph's network.
The Graph is built on the Ethereum blockchain and uses a native cryptocurrency called GRT to incentivize users to provide indexing and querying services. Users can earn GRT by indexing and querying data, and developers can pay for these services using GRT.
The Graph aims to create a more decentralized and democratized internet by providing a way for developers to easily access and use blockchain data, which can be difficult to navigate and understand without the right tools. The protocol is designed to be scalable and can be used for a wide range of applications, from DeFi (decentralized finance) to gaming and NFTs (non-fungible tokens).
The Graph uses a decentralized network of Indexers to index and store data from different blockchain networks. Indexers are nodes that run the indexing software and provide indexing and querying services to developers. They earn GRT tokens for their work.
The Graph's indexing software is open source and can be run on any machine that meets the minimum hardware and software requirements. This makes it easy for anyone to become an Indexer and participate in The Graph's network.
The Graph uses a GraphQL API to provide a standardized way for developers to query blockchain data. GraphQL is a query language for APIs that allows developers to specify the data they need and get a response in a structured format. The project uses a decentralized coordination mechanism called Curator DAOs to curate and approve subgraphs. Curator DAOs are groups of token holders who vote on which subgraphs should be approved for indexing. This ensures that only high-quality and useful subgraphs are indexed on The Graph's network.
The Graph uses subgraphs to define the data that should be indexed and how it should be indexed. A subgraph is a set of GraphQL schemas, types, and resolvers that define a specific subset of data on a blockchain. Developers can create their own subgraphs to index custom data or use subgraphs created by others.
The Graph's network is secured by a decentralized set of "Fishermen" who verify the accuracy of indexed data. Fishermen are nodes that check the validity of data and report any errors or inconsistencies to the network. They earn GRT tokens for their work.
The GRT token has a total supply of 10 billion tokens. As of April 28, 2023, the circulating supply of the GRT coin is 8.94 billion coins.
The GRT token was distributed through a combination of a private sale, a public sale, and a liquidity incentive program. The private sale took place in late 2019 and raised $5 million from a group of institutional investors. The public sale took place in December 2020 and raised $12 million from retail investors. The liquidity incentive program was launched in January 2021 and incentivized liquidity providers on Uniswap with GRT tokens.
The GRT token is used to incentivize network participants to provide indexing and querying services on The Graph's network. Indexers and curators earn GRT tokens for their work, while developers pay for these services using GRT tokens.
GRT crypto has a built-in mechanism for redistributing tokens from the protocol treasury to network participants. A portion of the tokens used to pay for indexing and querying services is set aside in a protocol treasury, which can be used to fund future development and network upgrades. However, if the amount of GRT tokens in the protocol treasury exceeds a certain threshold, the excess tokens are automatically redistributed to Indexers and Curators on The Graph's network. This mechanism is designed to align the incentives of network participants with the long-term success of The Graph's network.
Average Fees on the GRT Network
The fees on The Graph's network are determined by the Ethereum blockchain, on which The Graph is built. In general, the transaction fee on GRT is around 0,1-0,2%% of the transaction.
To interact with The Graph's network, users must pay transaction fees in the form of gas, which is a unit of measurement for the computational effort required to execute a transaction on the Ethereum blockchain.
In addition to transaction fees, there may be additional fees associated with using The Graph's network, such as indexing and querying fees. These fees are paid in GRT tokens and are determined by market supply and demand.
GRT Token Wallets
GRT tokens can be stored in any wallet that supports ERC-20 tokens, including MetaMask, MyEtherWallet, Ledger Nano S/X, Trezor, Trust Wallet, Atomic Wallet, Exodus, imToken, Guarda Wallet, Coinomi, etc.
