Understanding Staked GRT | Blockworks Intel

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What is Staked GRT?

What Is Staked GRT?

Staked GRT refers to Graph Tokens (GRT) that are actively locked or "staked" within The Graph Network protocol to secure and incentivize network operations. Staked GRT can be contributed in the following main roles:

1. Indexers’ Stake

Indexers are network participants who operate nodes to index and serve blockchain data. In order to provide these services, Indexers must stake their own GRT (“self-stake”) as a form of economic security and Sybil resistance—meaning only those with sufficient “skin in the game” can serve queries.
Staked GRT by Indexers can be slashed (i.e., lost) if they behave maliciously or fail to meet protocol standards1.
Indexers are rewarded with GRT for serving queries and indexing data, and the amount of GRT staked usually influences the amount of work an Indexer can perform and the rewards they can receive1 2.

2. Delegators’ Stake

Delegators are GRT holders who want to support the network but do not wish to run infrastructure. They can delegate (stake) their GRT to Indexers, sharing in a portion of the rewards the Indexer earns2 1.
Delegated GRT is not subject to slashing, meaning Delegators’ principal is secure from Indexer misbehavior, but Delegators must observe factors like the Indexer’s fee structure and reward rates2 1.
There is an "unbonding" or "thawing" period (28 days), during which undelegated GRT cannot earn rewards or be transferred2.

3. Curators’ Stake

Curators signal the most valuable subgraphs (data APIs) by staking GRT on them, earning a portion of query fees generated by those subgraphs. The “staking” in curation is technical, as it’s tied to a bonding curve mechanism and involves distinct economic incentives and risks, including the possibility of losing part of the staked GRT4 1.

Economic and Network Impact

Stake-for-Access Model: The Graph follows a work token model, where staking GRT is integral for receiving and distributing rewards and for network security2 5 1.
Delegation Ratio: An Indexer can receive up to 16 times their own self-staked GRT in delegated stake. If the ratio is exceeded, rewards for Delegators diminish6.
Staked GRT as Supply: As of late 2022, over 2.9 billion GRT were staked (about 39% of circulating supply), highlighting its importance within the protocol economics2 7.

Summary Table: Roles of Staked GRT

Role	Who Stakes?	Purpose	Risk of Slashing?	Reward Mechanism
Indexer	Node Operator	Secure & serve network queries	Yes	Query & indexing rewards
Delegator	Token Holder	Support Indexers, earn passive rewards	No	Share of Indexer rewards
Curator	Subgraph Validator	Signal quality data sources (subgraphs)	Yes (partially)	Portion of query fees

2 1 4+1

In summary, staked GRT is central to The Graph’s decentralized network, underpinning its security, quality of service, and incentive structure. Participation as a staker—whether Indexer, Delegator, or Curator—is rewarded through GRT distribution, but comes with varying degrees of risk, responsibility, and lock-up periods2 1 4.

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