As the Web3 ecosystem rapidly expands, fast and efficient access to blockchain data has become critical for the success of decentralized applications. The Graph was created to solve this exact challenge – a decentralized protocol that enables seamless indexing and querying of blockchain data. Often dubbed the “Google of blockchain”, The Graph has become a foundational layer powering major dApps like Uniswap, AAVE, and Gnosis. Join Coin60s to discover why GRT is emerging as a core token in the data-driven era of Web3.
What is The Graph?
The Graph is a decentralized protocol that enables developers to efficiently query and organize data from blockchains. Designed as the data access layer of Web3, similar to how Google indexes and retrieves information on the internet, The Graph allows users to build and use subgraphs, which are open APIs that pull data directly from smart contracts using GraphQL.
Initially launched on Ethereum, The Graph has since expanded to support multiple blockchains such as Polygon, Polkadot, Arbitrum, and Avalanche. It is integrated into hundreds of prominent applications across DeFi, NFTs, and DAOs. With over 600 subgraphs currently live, The Graph is becoming the “data backbone” of the Web3 ecosystem.
The project’s long-term vision is to create a world where blockchain data is universally accessible, transparent, and free from centralized control – laying the foundation for a truly open and decentralized Web3.
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Why was The Graph created?
While blockchain data is praised for its transparency and openness, efficiently querying that data has long been a challenge. In traditional environments, developers often need to build custom indexing solutions or rely on centralized services resulting in higher costs, longer development times, and scalability issues.
The Graph was created as a revolutionary solution to standardize and simplify how blockchain data is accessed. By allowing anyone to build subgraphs, open-source APIs for querying smart contracts, The Graph empowers decentralized applications (dApps) to retrieve data easily without relying on centralized or complex backend infrastructure. This paves the way for a truly decentralized Web3.
Moreover, The Graph operates via a community-driven structure (Indexers, Curators, Delegators), which promotes security, equitable value distribution, and resistance to data monopolization, issues that traditional, centralized solutions often fail to address.
Key highlights
- First decentralized querying protocol for Web3: Enables easy access to blockchain data without relying on centralized infrastructure.
- Multi-chain support: Originally launched on Ethereum, now compatible with Polygon, Avalanche, Arbitrum, Optimism, BNB Chain, Near, and more.
- GraphQL querying: Developer-friendly interface using the widely adopted GraphQL standard in the tech industry.
- Easy subgraph creation: Anyone can build an API to query data from specific smart contracts.
- Community-operated network: Consists of Indexers, Curators, Delegators, and Consumers—each playing a role in securing and expanding the protocol.
- Used by 600+ major projects: The Graph is integrated with Uniswap, AAVE, Synthetix, Gnosis, Aragon, Balancer, Livepeer, Decentraland, Messari, and more.
- Cost- and time-efficient for dApps: Eliminates the need for custom backend indexing by offering standardized, direct access to on-chain data.
- Transparent and secure: Data is indexed and queried through a decentralized node network—reducing the risk of censorship or manipulation.
The Graph Ecosystem
The Graph ecosystem is powered by four core roles, forming a decentralized network where each participant plays a critical part in querying, storing, and validating data:
- Indexer: Node operators responsible for indexing and processing queries. They stake GRT to earn query fees and inflation rewards.
- Curator: Developers or data consumers who assess subgraph quality and signal which ones should be indexed. They earn GRT when their chosen subgraphs are used.
- Delegator: Individuals who don’t run nodes or build subgraphs but delegate their GRT to Indexers to receive a share of rewards.
- Consumer: End-users (e.g., dApps or blockchain projects) who pay fees to access data from Indexers, indirectly supporting Curators and Delegators.
This ecosystem fosters a closed-loop incentive model where contributions are transparently rewarded, fueling sustainable growth through community participation.
What is the project’s token?
The native token powering The Graph ecosystem is GRT (Graph Token) – a utility and governance token used across the entire network.
- Token Name: Graph Token
- Ticker: GRT
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract Address: 0xc944e90c64b2c07662a292be6244bdf05cda44a7
- Token Type: Utility, Governance
- Total Supply: 10,557,317,018 GRT
- Circulating Supply: 8,731,445,763 GRT
GRT Use Cases
- Staking: Indexers, Curators, and Delegators must stake GRT to participate in the network and earn rewards.
- Query Fees: Consumers pay in GRT to access data through the network.
- Inflation Rewards: Distributed to staking participants to incentivize network security and performance.
- Token Burns: A portion of query fees (~1%) is burned regularly to create deflationary pressure.
- Governance: GRT holders can vote on proposals affecting the protocol’s development and upgrades.
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Team, Investors and Partners
The Graph is led by a team with extensive experience in blockchain development and software engineering. Key figures include Brandon Ramirez (Co-founder and Head of Research at Edge & Node), Jannis Pohlmann (Co-founder and Head of Engineering), and Yaniv Tal (Project Lead at Graph Protocol and founder of Workflo, Inc). Their combined expertise forms the backbone of The Graph’s scalable and efficient infrastructure.
On the investment side, The Graph has raised a total of $69.6 million across 7 funding rounds, backed by more than 28 prominent investors. Notable names include Coinbase Ventures, Multicoin Capital, DTC Capital, and Framework Ventures. Such strong financial backing reflects the project’s credibility and long-term growth potential.
In terms of partnerships, The Graph is widely integrated across the Web3 ecosystem. It supports major decentralized applications and blockchain platforms such as Uniswap, AAVE, Polygon, Messari, Balancer, and Livepeer. To date, over 600 subgraphs are actively running across various blockchains, demonstrating the protocol’s strong adoption and practical utility.
Roadmap
As of now, The Graph has not released a fully detailed official roadmap for its upcoming development phases. However, the project continues to expand its subgraph infrastructure across major blockchains such as Ethereum, Polygon, BNB Chain, Arbitrum, and others.
One key milestone in progress is the transition from the hosted service to a fully decentralized network. This shift plays a crucial role in achieving the project’s Web3 vision.
Notable directions in The Graph’s ongoing development include:
- Expanding support to additional layer 1 and layer 2 blockchains.
- Enhancing developer tooling and integrating AI-driven indexing capabilities.
- Increasing decentralization through DAO governance and upgrading GRT staking mechanisms.
Project Potential and Limitations
Dubbed the “Google of blockchain”, The Graph has carved out an ambitious but fitting role in the Web3 landscape. By addressing one of blockchain’s biggest pain points – decentralized data querying – The Graph positions itself as a foundational layer in the decentralized internet.
The project’s greatest strength lies in its utility. It enables seamless data access for a wide range of applications, from DeFi platforms like Uniswap to NFT projects, gaming, and even AI integrations. As demand for transparent and real-time data continues to grow, The Graph’s value proposition becomes increasingly relevant. Strong community support and backing from prominent investors further strengthen its long-term outlook.
However, The Graph also faces challenges. Its tokenomics include inflationary pressures, which may weigh on GRT’s price if token burn mechanisms or real-world adoption do not scale accordingly. Moreover, the full transition from the hosted service to a fully decentralized network is still in progress, leaving a gap between vision and execution.
Should you invest?
The Graph is one of the few blockchain projects that effectively addresses a critical yet often overlooked issue: how to query data in a transparent, efficient, and decentralized way. Often dubbed the “Google of Web3”, the project boasts a clear long-term vision, an expanding ecosystem, and a highly capable development team.
That said, like all crypto investments, GRT comes with its own set of risks. Inflationary tokenomics, bearish market conditions, and competition from other indexing protocols are all factors investors should evaluate carefully.
If you believe in the long-term potential of Web3 – particularly the need for transparent data access – The Graph is certainly a project worth watching and possibly allocating capital to. However, always make sure your investment decisions are backed by solid research and sound risk management.
Conclusion
The Graph is more than just a blockchain project, it’s a vital component of the Web3 infrastructure, where data is a core asset. With its decentralized querying solution, cross-chain scalability, and strong backing from the community and top-tier investors, GRT is a name worth considering for long-term portfolios of those who believe in a decentralized internet future.