The Graph (GRT) listed on Coinbase and Binance, what can the token GRT do?

The Graph, a highly anticipated startup in the 2020 ICO initial token offering, completed its ICO at the end of October. Its token, GRT, was listed today, the 18th, on Coinbase's retail platform Coinbase.com and the exchange Coinbase Pro. Exchanges such as Binance also started trading this morning, with a price surge of over six times.

Understanding The Graph in One Sentence

"The Graph is an indexing protocol used to query data like Ethereum network and IPFS, allowing anyone to create open APIs through this protocol to make market data easily accessible." According to The Graph, this product enables users to avoid spending significant resources on setting up custom servers to provide data content while ensuring credibility and information security.

Many DeFi platforms already utilize The Graph's GraphQL tools to offer market data information, such as Uniswap, Compound, Synthetix, and others. For instance, using Uniswap, users can view historical changes in liquidity, trading volume, and coin prices:

What is the Role of the Token GRT?

Most cryptocurrencies typically design an ideal economic circle to define their roles and value sources to maintain a decentralized structure. The Graph has three roles to fulfill the function of the GRT token: Indexers, Curators, and Delegators. The GRT token will be used for staking.

Indexers perform node work, where Graph nodes continuously scan new Ethereum blocks and data blocks, requiring GRT staking to provide indexing and data request services. They earn fees for data requests and staking rewards. All network contributors also have a Rebate Pool, which rewards them through a specific algorithm.

Curators are guardians of subgraphs, referring to developers, data users, or communities who inform Indexers which APIs to index through The Graph. They can deposit GRT into specific subgraphs and earn a portion of data request fees.

Delegators stake GRT to Indexers, share profits with them, and do not need to run nodes themselves.

For those interested in a more in-depth understanding of The Graph, they can participate in the newly launched knowledge reward platform Coinbase Earn's learning activities to earn GRT token rewards.

The Graph's Noteworthy Investor Lineup

Whether or not you understand what this startup is about, following renowned institutions is a basic practice in cryptocurrency investment. The Graph's prominence lies not only in addressing many DeFi users' demand for historical market data but also in its list of investors, including well-known institutions like Coinbase, Multicoin, DCG, and others.