The Graph

Growth

The Graph is the decentralized indexing protocol for querying blockchain data via GraphQL, removing the need to build custom on-chain data pipelines.

Blockchain Data Indexing
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Company Overview

About The Graph

The Graph is a decentralized indexing protocol that makes blockchain data queryable through standard GraphQL APIs, solving one of the most persistent engineering challenges in Web3 application development. Reading complex on-chain data — such as a user's historical trades across a DEX, the ownership history of an NFT collection, or the current state of a liquidity pool — requires either running indexing infrastructure or making hundreds of sequential RPC calls. The Graph replaces this with "subgraphs": developer-defined indexing schemas that continuously process on-chain events and expose structured, queryable endpoints.

Business Model & Competitive Advantage

Subgraphs are written in AssemblyScript using a manifest that maps smart contract events to data entities, and once deployed to The Graph's network, they are served by a decentralized network of Indexers who are economically incentivized through the GRT token to process queries reliably. This decentralized architecture means subgraph data availability is not dependent on any single company's uptime, aligning with the censorship-resistance goals of the protocols that use it. Hosted subgraphs on The Graph's managed service have been consumed by virtually every major DeFi protocol including Uniswap, Aave, Compound, and Synthetix.

Competitive Landscape 2025–2026

The Graph targets dApp developers, DeFi protocol teams, and blockchain data engineers who need performant, structured access to on-chain data at application scale. It competes with centralized data providers like Covalent and Moralis for indexed blockchain data, differentiating through its decentralized network architecture, its GraphQL-native querying experience, and its deep adoption within the DeFi ecosystem. The Graph Foundation stewards the protocol development and GRT token ecosystem, positioning The Graph as essential infrastructure for the decentralized web.

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