/biz/ - Business & Finance

it will be decentralized, so people need to pay in GRT to use the network. it's like a reverse chainlink

>>25049753
Settlements will be possible with stable coin in the near future according to Graph team, I'm not sure for what GRT token is necessary.

Query fees buddy

>>25049810
just like chainlink. if the user pays in fiat, it will be converted to GRT to pay the nodes

>>25049675

last chance before going to the moon

>>25049810
he just told you retard

>>25049753
this.

The Graph is the foundation, upon which web 3.0 shall be built. Millions of dapps will use it's protocol. All of which will have to pay in GRT.

The revenue this is going to generate is going to be INSANE.

>>25049753

Querying normal API on the web, off chain is not decentralized.

It's like a GET HTTP request on some IPFS file somewhere, indexed by The Graph.

How the fuck can they take a fee?

Explain. You haven't so far. The indexing is decentralized, but the querying is not

Okay,

so nobody knows ?

>>25049912
>>25050011
Indexers that stake GRT operate in a query marketplace where they earn query fees for indexing services and serving queries to subgraphs - like serving Uniswap trade data on Uniswap.info. The price of these queries will be set by Indexers and vary based on cost to index the subgraph, the demand for queries, the amount of curation signal and the market rate for blockchain queries. Since Consumers (ie. applications) are paying for queries, the aggregate cost is expected to be much lower than the costs of running a server and database.

A Gateway can be used to allow consumers to connect to the network and to facilitate payments. The team behind The Graph will initially run a set of gateways that allows applications to cover the query costs on behalf of their users. These gateways facilitate connecting to The Graph Network. Anyone will be able to run their own gateways as well. Gateways handle state channel logistics for query fees, and route to Indexers as a function of price, performance and security that is predetermined by the application paying for those queries.

>>25050011
>>25049912
Consumers are the end-users of The Graph that query subgraphs and pay query fees to the Indexers, Curators and Delegators. Consumers are likely to be developers or projects themselves that cover query fees for their applications as they would AWS or cloud service costs. However, some applications will pass on query fees to users or bundle the cost in product fees. Consumers will pay for query fees via “gateways” or wallets that will be built on top of open source contracts in The Graph Network.

>>25049675
>>25049810

>>25050046

Thanks for the info
Any source/link/documentation?

>>25050082
directly from the graph website

But still, as dev, I don't see how can The Graph prevent dapps/websites from querying their data for free, because they are public data, openly indexed.

"Consumers will pay for query fees via “gateways” or wallets that will be built on top of open source contracts in The Graph Network.">>25050218

That is what they say

Is an indexer node a service that can answer graphql queries over some random blockchain api? That is, nodes are essentially adapters from graphql to different blockchains?
Is the point of an indexer to run nodes bridging graphql to blockchains that they hope will be popular and get a lot of queries?
What exactly is the point/role of the curators? I don’t even get what they do.
The delegators I presume are anons with bags who want to stake for passive income?

>>25049829
>>25049846
No. The demand for GRT will be killed if settlements will be possible with stable coins, Rightnow it's only possible with GRT, But like i said the team vision is to allow stablecoins settlements.

>>25050824
why did they make a token in the first place then?

>>25050824
Sauce on teams vision?

>>25050218
Why do you think its public data? As a dev you do realize companies pay for API's right?

I stake on apy.finance and they use thegraph to calculate staking rewards and apy bonus's, they tjen publish the results directly on github. This query calculation is not public, and without thegraph it would take a ton of hours to do with a whole bunch of shitty sql.

>>25050901
There's still use for because of the bonding curve rewards for indexers/curators, But if they eliminate the need for it for query fees it by no doubt will damage the demand, It means that the demand for the token wouldn't be correlated to query volume hence no reflection on price.
>>25051085
See pic

>demand GRT will be gone once they allow paying with stablecoins

I dont think u understand the function of a ERC-20 token. Transfer and call.

Paying with a stablecoin doesn't mean there is no longer GRT being moved around in the background.

Take the Link network for example, a customer can pay in dollars, but in the background its still the link token that makes the moves (transfer and call).

>>25051453
Tldr, Team vision is to add stablecoins but the idea will need to go through a discussion with indexers and curators.

>>25051384

I do realize that companies pay for APIs.

But I understand how different it is when it's indexing blockchain data = public data, on IPFS files to become "APIs".

I get that there is a business to make between indexed/validated content by curators and companies, but I feel like it is not what people here think.

example:

I index with 50 nodes with consensus (à la chainlink), every minute, the "blockchain graph" of Synthetix.

Indexing it means putting it all on IPFS, publicly.

Then any dev can query this IPFS-based curated data to show it on their company website, for free.

How is that wrong?

>>25049753
great so what's chainlink's business model?

>>25051535
I just gave you a real life example of it being used for something not public.

>>25051551
> great so what's chainlink's business model?

It's a great one actually, glad you asked. They force LINK to be the token used to pay for Oracling.

Oracling is a FULLY ON CHAIN service, impossible to bypass. You need data on your smart contract -> you pay with Link, or you don't have the data.
Link captures all of the value.

With that in mind, GRT token can't be the same model, because querying data offchain is different, it's more open, it's a different environment (the fucking 'normal' web) where interactions are not monetized (querying data).

I feel like I'm the only one asking this

>>25051642
>This query calculation is not public, and without thegraph it would take a ton of hours to do with a whole bunch of shitty sql.

> This query calculation is not public, and without thegraph it would take a ton of hours to do with a whole bunch of shitty sql.

What do you even mean by that?
I can pay a decentralized (or not) compute service to calculate that and submit it back on chain?
What's the difference? What's the value here?

Honestly asking

>>25051498
This. It's like how you can still pay businesses in the US in any first world fiat but they will still need to pay taxes in USD so they have incentive to make the conversion in the background. And hell, that generally means they're charging a premium in non-usd to account for that conversion which I fully expect will happen here if people want to pay in a stable coin.

>>25051709
What do you hold besides link?

>>25050046
>>25050060
This actually makes sense...fuck me.

>>25051794
As long as the network is run in GRT, that is to say you're required to stake GRT, then amassing GRT is paramount to the network's success via their nodes. Just like how BTC miners are paid in BTC for mining.

>>25049675
Why Palantir is valued in billions even though it never reported a gain.

>>25051709
yes exactly, thegraph or even more specifically graphql allows you to basically save time and do more with the data. Theres a big difference bewteen using IBM watson vs asking some developer to do a bunch of sql joins. One way is the future and the other is the past.

>>25051453
>>25051498
also when you consider the fact that indexers have to stake their grt to increase chances of doing work, it incentivizes indexers to want grt in return for their work. even if all the payments were done in stablecoins, the indexers would still want to change them for grt to increase their stake

It's a search engine for Developers. Niched product, not a mass adoption "Google"

Their biz model is literally based on Developers sending a publically available code for Grt.

Where is the "mass adoption like Google" to support the price?

Overpriced at 5B Fully diluted MC -.-

>>25052365
I’m not sure this is a great take.

>>25052365

It's about how you feel about defi and web3 honestly. It's maybe "niche" but many people call it the future already.

How can we estimate a fair price for the future? 12 billion queries a year, should increase with time, so many tokens will be staked, so many will be held by investors. Indexers will increase, and accept lower prices, where will this all even out at?

>>25051866
I actually hold 0 link now.

I have some ETH, ADA, XMR, GRT, ALGO

>>25053866
>2/5
You will not make it. Sadly.

>>25052579
I google big index search get 5 billion results. Why would I pay?

>>25054022
Checked but will neck. Truth is you already pay jewgle every day. Only difference is jewgle will never pay you back.

>>25053866
Solid bags man good calls

>>25049675
It was a discord/telegram pump and dump, checkout "big pump signal"

>>25054022
Because you would have to run your own local node, index the subgraph, and query that local node to do it for free. Running a server that size that’s constantly indexing new transactioins/data would still cost money. Otherwise you would use the decentralized network for queries ie the graph protocol which is not time prohibiting and also cost effective. This will give developers a competitive edge in the market.

>>25049675
Also on viability of the business model you absolute pajeet. Uniswap has already stated they'll relay the costs of querying for data on the end-users and it's sensible that other projects will follow a similar route. In essence, uniswap degens will pay for token appreciation, to put it bluntly

>>25051898
Welcome, child

>>25049675
Chainlink oracles bring indexed data on chain.
https://thegraph.com/blog/the-graph-chainlink-oracles

>token not needed