Graph Protocol Had It's Moon Day Up 45%

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(Edited)

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Seems like one DeFi project after another is having it's chance to moon. Graph finally had it's day!

GRT or Graph Token has been on my DeFi moon shot list for sometime. Last week I posted about my ideal DeFi portfolio and GRT token was there sitting amongst the large caps.

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It had a good spike in volume yesterday and then again today and is now up 117.5% since writing that post.

Grats to anyone with GRT in their Defi bag!

What is Graph Network and GRT Token

With out boring the shit out of you I'll go over a couple key pillars of the Greaph Network.

  • Graph protocol went live on the Ethereum mainnet December 17th, 2020.
  • Graph is a middle layer protocol facilitating data comminication between Dapp front end UI's and various blockchains.
  • Through the use of "subgraphs" the protocol creates indexes that organize smart contract data saving developers time and resources.

The Graph protocol consists of three different participation levels that make up the network, that is Indexers, Curators, and Delegators.

Graph Indexers

Indexers are responsible for running the nodes which process blockchain queries. They are required to stake GRT tokens in order to run a node, and if found to be malicious their stake is diminished.

Indexers are rewarded in GRT tokens for query fees and Indexer rewards

Graph Curators

Not a novel concept but interesting none the less. Participants at the curator level are able to stake their tokens to a particular sub-graph they believe to be high quality. Curators use their knowledge of the industry to identify subgraphs for Dapps and communities they feel are high quality or will stand the test of time.

Staking to a particular subgraph signals to the network that this is a potential high quality subgraph/Dapp. The more it's signaled, the more likely it is to be indexed by the Indexers.

The best subgraphs that are indexed will earn the most fee's, a portion of which is earned by curators, incentivizing then to signal high quality subgraphs.

Graph Delegators

Delegators stake GRT tokens to the indexers they want to support, helping to secure the network and earning a portion query and indexing rewards.

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What Is The GRT Token?

GRT is a classic example of an ERC-20 utility token.

The token is used as both means to settle transactional payments for the use of the protocol, and also serves to reward network participants for running nodes, curating subgraphs, or delegating to indexes.

GRT is currently traded on Binance, Coinbase, OKEx, Huobi, Kraken, so pretty much all the main exchanges. Current 24 hour trading volume is in the area of 3.2B at the time of writing this post.

Ciao for now,

@agr8buzz

Posted Using LeoFinance Beta



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