When was GRT coin issued

GRT tokens were initially offered through a private token sale on December 17, 2020, with public availability starting on June 1, 2021.

Nov 07, 2024 at 03:38 pm

GRT Coin Issuance: A Comprehensive Timeline and Ecosystem Overview

Background and Overview

The Graph (GRT) is a decentralized protocol that enables developers to build and publish decentralized applications (dApps) that can efficiently query data from various blockchain networks. GRT coin is the native token of The Graph ecosystem, used for staking, governance, and rewarding indexers for providing data querying services.

GRT Coin Issuance Timeline

• March 16, 2021: The Graph Foundation announced the launch of the GRT token, marking its issuance date.
• December 17, 2020: GRT tokens were introduced through a private token sale, with participants including Coinbase Ventures, Multicoin Capital, and Digital Currency Group.
• June 1, 2021: GRT tokens became available for public purchase through various cryptocurrency exchanges, including Coinbase, Binance, and Uniswap.

GRT Ecosystem Components

1. Indexers: Indexers are entities responsible for collecting, processing, and storing data from various blockchain networks. They play a crucial role in ensuring the availability and accessibility of data for dApps on The Graph.
2. Curators: Curators are users who evaluate and rate the quality of data subgraphs, which are collections of smart contracts that specify how data is stored and indexed on The Graph.
3. Delegators: Delegators are users who stake their GRT tokens to indexers they trust. By delegating their GRT, they earn a portion of the rewards allocated to those indexers.
4. Consumers: Consumers are dApp developers who query data from The Graph's decentralized network. They typically pay for data access using GRT tokens.

GRT Token Utility and Benefits

• Staking: GRT tokens can be staked to indexers, providing incentives for them to maintain high-quality data services and expand their operations.
• Governance: GRT holders participate in the governance of The Graph ecosystem, proposing and voting on changes to the protocol and its parameters.
• Rewards: Indexers earn GRT tokens as rewards for providing reliable and efficient data querying services.
• Payment: Consumers pay for data access on The Graph using GRT tokens, incentivizing indexers to provide high-quality and timely data retrieval.

Factors Influencing GRT Coin Value

• Network Growth: The growth of the The Graph network, measured by the number of subgraphs and dApps using its services, positively impacts GRT demand and value.
• Indexer Performance: The performance and reputation of indexers on The Graph determine their share of staked GRT and subsequent rewards, influencing GRT's price.
• Data Demand: Increased demand for data from blockchain networks drives demand for GRT tokens, as consumers pay indexers using GRT.
• Competition: The emergence of competing decentralized data querying protocols may affect GRT's market share and value.
• Market Sentiment: Overall cryptocurrency market sentiment and macroeconomic factors can also influence GRT's price.