The Graph's Open Marketplace

Overview

Key Roles in the Marketplace

• Indexers: Node operators who stake Graph Tokens (GRT) and run the infrastructure that indexes blockchain data. They respond to queries from dApps and earn query fees.
• Curators: Individuals or entities that signal which subgraphs (open APIs for specific sets of blockchain data) are valuable and accurate. By staking GRT, Curators help Indexers find useful data to index.
• Delegators: GRT holders who delegate their tokens to trustworthy Indexers to help secure the network while earning a share of query fees and rewards245.

How It Works

• Developers deploy "subgraphs" (public APIs) to The Graph Network.
• Indexers choose which subgraphs to index and answer query requests in return for fees.
• Curators stake GRT to signal which subgraphs have the highest utility and should be indexed.
• Delegators help secure the network by delegating GRT to Indexers.
• Query fees and indexing rewards (paid in GRT) incentivize accurate, reliable, and performant data services4365.

Marketplace Dynamics

• Query fees are individually priced, creating a competitive environment where Indexers set their own fee cuts. This dynamic allows market mechanisms of supply and demand to optimize for cost, performance, and reliability45.
• The economic system is underpinned by the GRT token, used for payments and staking throughout the marketplace.
• The microtransaction system, Scalar, enables efficient, scalable payments per query2.

Impact

• Enables open, permissionless, and censorship-resistant access to blockchain data.
• Provides a serverless, decentralized foundation for dApps, reducing single points of failure.
• Empowers a global community to earn income by contributing to Web3’s data layer without relying on centralized intermediaries78910.
• As of late 2024, The Graph's decentralized marketplace processed over 5.3 billion queries in a quarter and supported over 10,400 published subgraphs, showing robust growth in developer engagement and data use5.