What is The Graph (GRT)?
Reading raw data directly from a blockchain is slow and resource-intensive. The Graph (GRT) is a protocol that indexes this data in advance, turning it into query-ready information for developers. Instead of maintaining their own infrastructure, teams can plug into The Graph and fetch exactly the on-chain data their applications need.
How Subgraphs Turn On-Chain Data into APIs
At the heart of the protocol are subgraphs — open APIs defined by developers. A subgraph specifies which smart contracts to watch and which events to extract. Once published, indexer nodes begin processing the relevant blocks and structuring the data. Applications then query that data through GraphQL, retrieving only the fields they require. This workflow powers dashboards, wallets, and DeFi interfaces that depend on real-time information.
The Roles That Keep the Network Running
The Graph relies on three key participant roles. Indexers operate the nodes that store and serve the indexed data; they earn fees from the queries they handle. Curators stake GRT on the subgraphs they believe are useful, creating a signal that guides indexers toward valuable datasets. GRT holders who do not want to run a node can delegate their tokens to an indexer and earn a share of its revenue. All these roles use GRT as both a reward and a security deposit — participants can lose their stake if they act dishonestly.
