The Graph is an indexing protocol and global API that organizes blockchain data and makes it easy to query with GraphQL. It is often described as search infrastructure for blockchain data.
The project began around 2018, founded by Yaniv Tal, Brandon Ramirez and Jannis Pohlmann, and its mainnet launched in December 2020. Several core developer teams, including Edge & Node, now contribute to its development.
Developers define open APIs called subgraphs that specify how data from smart contracts should be indexed. These subgraphs can be found and published through Graph Explorer, and decentralized apps query them using GraphQL.
The Horizon upgrade in December 2025 moved the protocol to a modular architecture. This lets it support more data services beyond subgraphs, such as Substreams and a Token API.
Data provided by CoinGecko
GRT is an ERC-20 token used to coordinate work on the network. Indexers stake GRT and earn rewards for processing queries, Delegators delegate GRT to Indexers, and Curators signal GRT on useful subgraphs.
The genesis supply was 10 billion GRT, with no fixed maximum supply and ongoing issuance of roughly 3 percent per year. Part of the query fees is burned, so the circulating supply can change depending on network usage.
The Graph is widely used data infrastructure for DeFi and Web3, and its strengths include multi-chain support and a decentralized network of Indexers. Its modular design is also widening the range of services it offers.
Risks include competition from centralized data providers, inflation pressure from an uncapped supply, and a complex token economy. This overview is for information only and is not investment advice.
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