The Graph

The Graph (GRT) is an indexing protocol that acts as a global, decentralized API for blockchain data, letting developers query on-chain information as easily as they would a traditional database. GRT is the ERC-20 token that coordinates the network's participants, and The Graph has become core infrastructure for countless DeFi and Web3 applications that need reliable access to organized blockchain data.

What is The Graph?

Reading raw blockchain data directly is slow and impractical, so The Graph organizes it into open APIs called subgraphs that can be queried with GraphQL. Developers use Graph Explorer to search, find and publish the data they need, enabling serverless dApps that run entirely on public infrastructure. It is often described as the 'Google of blockchains' for how it makes fragmented on-chain data searchable and usable.

How does The Graph work?

The network runs on a set of coordinated roles secured by GRT. Indexers stake GRT to process queries and earn fees and rewards. Delegators stake GRT to Indexers they trust, helping secure the network and sharing in rewards without running infrastructure themselves. Curators signal GRT on subgraphs they judge valuable, helping surface high-quality data. Together these participants keep a decentralized, economically incentivized data layer running.

• Indexers stake GRT to serve queries
• Delegators stake GRT to Indexers to earn rewards
• Curators signal GRT to highlight useful subgraphs
• Data is queried via GraphQL through subgraphs

The Graph tokenomics and supply

GRT has a circulating supply near 10.8 billion, essentially matching its total supply, and the maximum supply is only marginally higher — meaning nearly all GRT is already in circulation. The Graph uses an issuance model that mints new GRT as indexing rewards while burning a portion of query fees and other charges, so net supply changes depend on the balance between rewards and burns rather than a hard cap.

What is The Graph used for?

GRT powers a data-indexing marketplace: it pays for and secures query processing and aligns incentives across Indexers, Delegators and Curators. The Graph spans infrastructure, analytics and AI categories, and its subgraphs underpin dApps across DeFi and Web3 that rely on fast, trustworthy access to blockchain data.

Where to buy The Graph

GRT is one of the more widely listed tokens and is available on most major centralized exchanges. Compare fees, liquidity and regional access using our best crypto exchanges ranking. As an ERC-20 token, GRT is supported by virtually every Ethereum-compatible wallet — see our best crypto wallets guide to pick one, especially if you plan to delegate GRT for staking rewards.

Is The Graph a good investment?

The Graph fills a genuine infrastructure need, and its usage is tied to real developer demand rather than pure speculation — a point in its favor. Still, GRT has ranged from an all-time high near $2.84 to lows around $0.017, and competition among data and indexing providers is real. This is not financial advice; weigh network usage trends and volatility before considering GRT.