What is The Graph? All About GRT Token

The Graph is a crucial component in the overall Crypto ecosystem.

Let’s explore more details about The Graph project with AZCoin today.

What is The Graph?

The Graph is a decentralized protocol that organizes blockchain data. This allows users to access blockchain data conveniently, easily, and more efficiently. Due to its indexing and data querying features, The Graph is often compared to Google for the Blockchain network.

The operational method of The Graph

What problem does The Graph solve?

Up to now, the transparency of blockchain technology has often been praised. However, despite containing a wealth of valuable data, querying them to find specific information is not easy, similar to “the Web without Google.” There are currently many analytical tools that can extract useful information from blockchain data.

However, these applications often operate in a centralized manner and may take months to develop. Therefore, The Graph was created, seeing itself not as a competitor to these tools but as a supportive application for them. The Graph can be seen as an open data layer in the blockchain ecosystem.

What is the solution provided by The Graph?

The Graph develops a protocol that allows users to access and build APIs, also known as SubGraphs. It retrieves data from blockchain networks starting with Ethereum and reorganizes it in its own structure. Data retrieval is done using the GraphQL method, a popular approach used by big companies like Facebook, Pinterest, Shopify.

Additionally, The Graph aims to create a platform with multiple Nodes, where users can register to build The Graph Node, reducing data retrieval time and making it more convenient for the community.

What is The Graph ecosystem?

Indexers are node operators in The Graph network who stake GRT tokens to provide Indexing and Query Processing services. They receive Query fees and Inflation rewards.

Curators are SubGraph developers, data consumers, or community members who organize data and signal to Indexers which APIs should be indexed by The Graph network. From this, they can earn GRT tokens.

Delegators are individuals who want to contribute to securing The Graph network but may not want to or know how to code like Curators or Indexers. They can delegate their GRT tokens to Indexers to share rewards.

Consumers are end users of The Graph who use the query data services provided by Indexers. The fees they pay are shared proportionally among Indexers, Curators, and Delegators.

What is GRT token?

GRT is a token in The Graph ecosystem, used for the purpose of:

• Query fees are the fees paid by users to Indexers, Curators, and Delegators, similar to fees we pay for cloud services.
• Inflation reward is the reward shared among Indexers, Curators, and Delegators based on the amount of GRT tokens they stake.
• Protocol Sink Burns A portion of Query fees is burned, expected to start at ~1% total protocol query fee and may change ratio in the future.

Some basic information about GRT token

• Token name: GRT Token
• Ticker: GRT
• Blockchain: Ethereum
• Token Standard: ERC20
• Token Type: Utility
• Total Initial Token Supply: 10,000,000,000 GRT
• Circulating Supply: 7,400,273,157 GRT
• New issuance schedule: Starting from ~3% per year, depending on technical governance
• Maximum Token supply: 10 billion with new tokens issued – tokens burned
• Market cap: $608,243,457
• Approximately: ~1% of the fees users pay to The Graph system will be burned.

Distribution of GRT Tokens

The GRT tokens were distributed as follows:

• Community: 35%
• Early Backers: 17%
• Backers: 17%
• Early Team & Advisors: 23%
• Edge Node: 8%

Public Token Sale

The Graph’s GRT token is available for public sale on the TheGraph website on the Ethereum blockchain on October 22, 2020, at 11pm. Registration for the sale opened on October 15, 2020.

Public Sale

• Token Ticker: GRT (ERC20 Token)
• Date: Thursday, October 22, 2020 at 11:00 PM UTC
• Venue: thegraph.com, Ethereum Blockchain
• Registration Closed: October 15, 2020
• Initial Supply: ~1,245,666,867 GRT
• Total Supply: 10,000,000,000 GRT
• Tokens for Sale: 400,000,000 preGRT (Converting to 400,000,000 GRT)
• Price: $0.03 preGRT
• Payment: ETH
• Individual Cap: $1,000-$5,000 preGRT (can only purchase within this range)
• Lockup: Locked until Mainnet launch
• Eligible Countries: Open to all except users in the United States and certain restricted jurisdictions.

Investors

The Graph’s investor base is equally impressive, with strong backing from several established organizations and product users. These include Coinbase Ventures, ParaFi Capital, and Multicoin Capital, among others.

Ways to Acquire GRT Tokens

Currently, there are several ways to acquire GRT tokens:

• Participate in The Graph Ecosystem: Individuals can become Indexers, Curators, or Delegators.
• Staking: Stake GRT tokens to earn rewards.
• Bug Bounty Program: Contribute to the project by identifying security vulnerabilities.
• Hackathons: Participate in hackathons to earn GRT tokens.

GRT Token Exchanges

GRT is currently traded on multiple exchanges with a daily trading volume of approximately $72 million. Exchanges that list GRT include Binance, Coinbase, OKX, Kraken, AAX, and MEXC Global.

Check out the best crypto exchanges 2024 to choose the right platform for trading GRT tokens or other coins like bitcoin cash, litecoin,…

GRT Token Wallets

As GRT is an ERC20 token, it can be stored in wallets that support this standard, such as: Metamask, Myetherwallet, Trust Wallet,…

Summary

Through this article, you have gained some basic information about the project to make your own investment decisions. To ensure a secure investment, review the Evaluation Process on AZCoin. We wish you success and hope you make a lot of profit from this potential market.