Today, The Graph Protocol announced the release of its token while preparing for the Graph Network launch this year.
In the October 22 – 24 GRT token sale on the Ethereum blockchain, The Graph will also set a total of 400M GRT out of the 10B initial token supply at 3 cents a pop.
The Graph also allowed the blockchain companies to create and practice their APIs, or subgraphs. APIS is a way that applications talk to one another to acquire data. The crypto chart showed all came from one website that sends a query to another for that data.
Various Web 3.0 applications have already used the Graph; it includes the decentralized exchange Uniswap and crypto price provider named CoinGecko.
A recent release says that The Graph Network will be “a decentralized network of Indexers, Curators, and Delegators working together to organize the world’s blockchain data, serve applications, and accelerate the transition to a decentralized future.”
For this reason, the token sale is considering to spread the ERC20 token among three types of users:
Indexers operate the network’s nodes and stake GRT, then earning rewards and fees when consumers make a probe.
Curators include the folks who decide what Ethereum data to index and how to store that data in “subgraphs”. They also deposit GRT and earn query fees from particular subgraphs
Delegators – are non-technical supporters who want to protect the network without executing a node. They represent their GRT to indexers in exchange for a cut of the profits.
However, not everyone is earning GRT. Consumers are paying the query fees to get the data that they’re looking for.
On October 15, the registration for the token sale will be closed.