The Graph

GRT is the work token of The Graph, a network that indexes blockchain data and serves it to applications.

Applications need to read data from blockchains quickly. The Graph organises that data into open APIs called subgraphs and answers queries about it. It says it has served over 1.27 trillion queries to more than 75,000 projects across more than 60 networks.

GRT coordinates the work. Indexers run servers that store and serve the data and must stake at least 100,000 GRT; if they misbehave, part of their stake can be cut. Holders who do not run servers can delegate GRT to an Indexer and share in its query fees and rewards. Curators put GRT behind subgraphs they think are useful.

GRT started with 10 billion tokens and new tokens are issued at a target of about 3% a year as rewards for Indexers and Delegators, while part of the fees and taxes is burned. About 10.94 billion GRT were circulating on 1 October 2026. Since 2026, 20% of new issuance goes to a fund managed by The Graph Foundation.

In August 2026 The Graph Foundation took on a direct role in building and operating the network. In September it tied indexing rewards to service quality and began moving more query traffic from its own hosted service to the decentralised network.