The Graph is a decentralized protocol for indexing and querying blockchain data, primarily applied on Ethereum. The Graph simplifies data queries, making them straightforward and manageable. Anyone can build and publish open APIs, known as subgraphs, to make data easily accessible.

The Graph token has two primary uses within the protocol:

Indexer Staking: Indexers stake Graph tokens to be discoverable in the query market and provide economic security during work execution.
Curator Signaling: Curators stake Graph tokens in the curation market to predict which subgraphs are valuable to the network, earning rewards for accurate predictions.
Users can pay for queries with ETH or DAI. However, final settlements occur in GRT to ensure a common unit of account across the entire protocol.

Additionally, holding the native token incentivizes specific behaviors through inflation. The ability to dynamically adjust inflationary monetary policies is a powerful tool in the toolkit.

Project Introduction

The project is a decentralized data indexing protocol that indexes and queries data from blockchains and storage networks (such as Ethereum, IPFS, and other Web3 data sources), allowing users to create and publish indexed data via open APIs. (Note: The Graph is akin to "Baidu" in the blockchain world.)

The Graph network consists of four types of participants:
- Users who pay indexing fees using GRT tokens;
- Indexers who run network nodes and stake GRT, earning rewards whenever users query data;
- Curators who use GRT to signal which subgraphs are worth indexing;
- Delegators who stake GRT with nodes to earn rewards.
Thus, indexers, curators, and delegators must stake GRT tokens to utilize the network.