#11 - The Graph Reaches New Milestone with Rapid Mainnet Adoption
Chainsafe instruments Erigon for Firehose, Support for Polygon zkEVM in Subgaph Studio, GraphOps launches new tools for Indexers, and more.
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🌎 Community Grants Update
In the past week, there was one new grant proposal submitted to the forum:
Proposals that passed dao-voting:
🧠 Hackathons and Events
Join The Graph at ETHTokyo 2023 from April 14th to 16th and participate in $7500 worth of bounties sponsored by The Graph! Feel free to connect with other community members at The Graph booth. You can also learn more about subgraphs using The Graph Foundation's Hacker Resource Pack.
The Graph Foundation awarded $5,000 in bounties at the just concluded ETHGlobal’s scaling Ethereum's hackathon. Congrats to all the hackers who participated worldwide and used subgraphs to build innovative solutions to the challenges of scaling Ethereum. Here are the teams & projects that won bounties:
Best new subgraph 🥇: Scaling Tree - Congrats to Sainy, Lttiwat, Nattawat & the rest of the Scaling Tree team for winning the grand prize! Scaling Tree created a subgraph-powered system to track, monitor, & help plant trees around the world.
Best new subgraph 🥈: Pool Party - Congrats to Nikita, Monaiu & the Pool Party team! Pool Party is a decentralized identity directory that simplifies identity management in the growing web3 social ecosystem, powered by a subgraph that neatly organizes social data.
Best use of existing subgraph 🥇: DefiLens - Congrats to Sunny for building DefiLens, a DeFi social graph built on The Graph & LensProtocol. DefiLens operates like a social news feed, making it easy to view & discuss the DeFi activity of web3 users.
Best use of existing subgraph 🥈: Credence + Medikai - Congrats to WKH and Wenhe Li for Credence, an identity & reputation dapp for Optimisim’s AttestationStation. And congrats to HolyAustin for Medikai, a dapp decentralizing the storage & retrieval of medical records.
CBN Recruitment x The Graph AMA with Kyle Arojas from Edge&Node (6th April 12 pm UTC | Virtual)
Welcome Back Breakfast at Edge & Node’s House of Web3 (11th April 9:30 am - 11:30 am PDT | San Francisco | In-Person) Reserve your ticket here.
Indexer Office Hours #102 (11th April | 18:00 UTC | The Graph’s Discord here)
Graph Advocates Onboarding Training | Wave 12 (12th April | 15:00 UTC | Graph AdvocatesDAO Discord here)
NFT NYC (12 - 14 April | New York | In-Person)
Ethereum Zürich (14 - 16 April | University of Zürich | In-Person)
⛓️ Network Transition & Development
Have you heard? Paying for queries has been made easier than ever before - it's now as simple as swiping a credit card! 💳 Users can now pay their query fee balance via debit or credit card, thanks to the new Banxa fiat onramp. The core devs are always listening to users' feedback and delivering solutions that make a difference! Catch up on all details of the announcement here.
Did you hear? The Graph Network is expanding its operations to Layer 2 with Arbitrum. This will result in lower gas fees, faster transaction processing, and a more scalable and decentralized network for all users. The expansion will take place in three phases, with phase one already completed and phase two currently in progress. Here are the three phases:
Enable Arbitrum One on Mainnet ✅
Enable indexing rewards on Arbitrum One 🚥
Enable 1-click migration to Arbitrum One 🚥
The GraphOps team launched Graphcast Network, POI Radio, and Graphcast SDK to make it easier for Indexers to set up high-performing nodes on The Graph Network. The Graphcast Network enables real-time and decentralized peer-to-peer communication, Graphcast SDK empowers developers to create gossip-powered applications for Indexers, and POI Radio enables Indexers to cross-check subgraph data integrity. With these tools, Indexers can level up their indexing stack in a collaborative, positive-sum way. Here’s an article that covers this in-depth.
ChainSafe successfully instrumented the Erigon Ethereum client for Firehose a solution built by Streamingfast that increases indexing speeds at The Graph, making it easier for developers to access blockchain data and build Dapps more efficiently.
Adoption of the decentralized network continues rapid growth with several projects migrating their subgraphs to the decentralized network in the past week such as:
The total number of subgraphs on the decentralized network currently is 848 while the total number of Indexers is 622 and 459 are active.
Exciting news for Polygon zkEVM developers! The Graph has added support to help build fast and performant dapps by organizing data on the Mainnet Beta with subgraphs. Now, devs can leverage the power of Subgraph Studio to build zkEVM subgraphs and streamline their development process, unlocking the full potential of decentralized applications on Polygon with The Graph.
Are you still using a subgraph on the hosted service? Migration grants are open for applications. Apply while they’re still available here. If you’re unsure of how to migrate your subgraph, check out this article in the docs.
Advocates are making tremendous progress in their efforts! One notable contribution is the development of Subgraph Documentation, which Technical Teacher Advocates are actively working on. If you have migrated your subgraph and require assistance with documentation, you can conveniently request help through the following link here.
🏛️ Governance
GIP 0051 – Exponential Query Fee Rebates for Indexers
Status: preliminary-discussions
This proposal suggests replacing The Graph's current Cobb-Douglas-inspired mechanism with an exponential rebate function to distribute query fee rebates to indexers that serve queries. The proposed mechanism aims to overcome the shortcomings of the current mechanism by ensuring indexers no longer need to anticipate how much other indexers will stake, making optimal staking decisions clear, and reducing frictional costs associated with serving queries.
The motivation for the proposal is to have query prices low enough for consumers while ensuring indexers earn enough revenue from query fees to be profitable. The current mechanism is complex and unclear, hindering indexers from profitably serving queries, and not defining optimal staking levels clearly, making it difficult to anticipate equilibrium stake levels, which can jeopardize network security.
In much simpler terms, the proposal suggests a new way of distributing query fee rebates to Indexers who help serve queries on The Graph. The current method is complicated and makes it harder for Indexers to earn rewards. The new method is simpler, allowing Indexers to earn more when they contribute more to the network. The new method will make it easier for Indexers to know how much rewards they can earn and how much they need to contribute. This will make things better for everyone. You can engage with this proposal on the Forum and add your voice.
👨👩👧👦Community & Ecosystem
The decentralized network has achieved another milestone with 800 subgraphs now migrated, and the pace is increasing. It only took 41 days to migrate from 700 to 800, compared to 61 days for the previous 100 subgraphs. Here’s an infographic that gives the best context.
Kyle Arojas participated in a panel discussion hosted by Fenbushi Captial on the topic of "Essential Web 3 Infrastructure for On/OffChain Data". The panel discussed the differences between onchain and offchain data in the context of Web 3 infrastructure. A recap of the conversation is available if you missed it.
An interesting thread with cool infographics by Designatum briefly describes how The Graph incorporates AI, how the protocol participants benefit from it, and if there’s any relation between $GRT and #GPT. Check it out here.
New release for GRTIQ podcast, Ep. 110 featuring Abinav & Vikash Choubey with Dapplooker & Dapplooker Indexer, where they talked about the origins of DappLooker & how it works, why they launched an Indexer, their passion for The Graph and GRTIQ.
New Issue #36 of Graph Advocates Spotlight is now available and showcases Advocate Don Daryl. Don is a Cloud Engineer & Technical Teacher that worked on the Subgraph Documentation for Endaomentdotorg.