Edge & Node’s June/July Update

:woman_astronaut: Executive Summary

The last month has been historic for both Edge & Node and The Graph. I am excited to announce that we have accomplished a significant milestone: The Graph’s Sunrise of Decentralized Data is finally here. The hosted service has now upgraded to the decentralized network. You can find the press by The Block here along with their native X here. The Graph was their top story of the day yesterday. With this, we are no longer providing a hosted service, fully decentralizing web3’s data layer. Over 6,450 subgraphs (proxies for applications) are live and being queried with payment in GRT on The Graph Network. This includes notable partners such as AAVE, ENS, Art Blocks, Balancer, Snapshot, Decentraland, Lido, Messari, PancakeSwap, SushiSwap and many others. Anyone can access blockchain data with integrity quickly and easily. The Graph Network experienced 11x growth in query volume to 991 million queries over the last thirty days, compared with 89.8 million queries over the same period in 2023. We have seen a 60% increase in daily Network query volume since this time last month. This marks only the start of a rapidly growing influx of queries in the weeks to come. With this move, we no longer have to split our attention between a hosted service and a decentralized network. All eyes are now on improving the network. We are committed to continuing to improve the developer and user experience to ensure web3 is as easy to use as web2. Many more features and services are to come. See below for a summarized view into how we supported subgraph developers, data consumers and The Graph community through the Sunrise, plus news on major protocol enhancements, see below:

Notable May & early June Accomplishments:

The Sunrise of Decentralized Data is Here!

We celebrated the Sunrise around the world in Cape Town, San Francisco, Buenos Aires, Seoul, and Portugal.

The Sunrise Upgrade Program generated a ton of enthusiasm in the wider community. This program was designed for the community empower them to partake in the sunrise of decentralized data and earn based on their contributions - This program completes June 20th. It includes a builder track, focused on upgrading and querying subgraphs, and a visionary track in which The Graph community’s creative energy and knowledge inspired though pieces, blogs, and entertaining media about The Graph’s mission and technology. Check out some of the music videos made here and here.

On top of prior features that allow users to upgrade 50 subgraphs at a time, set monthly spend limits, and get support via the Studio and Explorer, we implemented additional changes to bring Network usage into focus:

The Graph expands participation, technical education, and open-sourced releases

  • The Graph Network is powering 6,000+ subgraphs.
  • With 97-98% of all queries are now happening on the L2 protocol (Arbitrum), the Council approved moving 100% of indexing rewards to L2. This change will go into effect in the coming weeks. This is important to complete for those running infrastructure for The Graph — right now they are operating on both L1 and L2 which is costly and time consuming.
  • Education about The Graph flows from both the House of Web3 and the DevRel team’s international efforts.
    • We held a dedicated Zero-to-Dapp event at ETHBelgrade
    • 24% of all hackathon submissions used The Graph at ETHPrague
    • House of Web3 Newsletter continues to see 40% and above open rates
  • In gearing up for the next release, Graph Node saw 47 merged pull requests in May, including:
    • Using the latest block hash for checking block receipts
    • Creating a nightly docker build
    • Recently delivered Graph Node improvements include adding support for declarative eth calls and eth_getbalance
  • In the protocol world, we shipped the Early Allocation Closure (GIP-0060) after Council approval. We also supported Wonderland in completing the first phase of decentralizing the Epoch Block Oracle. Excitingly, the Horizon contracts audit has begun and will last approximately 7 weeks, plus additional time for any necessary mitigations.
  • Gateway release v21.0.0 is complete, including the highlight of indexer-selection improvements, mostly focused on adjusting the relative sensitivity between latency and distance behind chain head.

What’s Next:

  • A new GIP for Indexing Fees
  • Continue testing Horizon, supporting the 7-week audit, and getting it ready for launch
  • Scope work for our contributions to the Knowledge Graph and web3 App Framework
  • Publish GIPs for the future of issuance and other incentives as the protocol evolves in the future with Horizon
  • Streamline the chain integration process with fully automated testing and higher visibility
  • This July in ETHcc, we will host a full-day educational hackathon event full of technical workshops: ZeroToDapp Day. Mark your calendars for July 11th
  • If you are traveling to Brussels for EthCC**,** we have a mainstage keynote opening day on the New Era of The Graph and would love to celebrate with you after our The Graph Sunrise Party! Let me know if you would like an invitation to attend.

Thanks for this Exciting update and growth in query volume and the expansion of subgraphs are impressive. I am Looking upcoming developments and events, including the ZeroToDapp Day at ETHcc. Keep it up. This is great work.