I find the ability to select a proper indexer to delegate to pretty difficult for Delegators as they are many metrics to consider, including past performances and actions. In the Discord channel many Delegators are frustrated for having chosen the “wrong” indexer.
I feel that more than everything, there is a lack of transparency on an Indexer’s behavior for Delegators to make an informed choice, and what better way to solve this issue than a Subgraph? The “Graph Network” subgraph does contain some details, but they are not so easy to extract or manipulate.
I would like to apply for a grant to develop a specialized subgraph that monitors various Indexer KPIs, ideally building a type of overall “Indexer Trust Score” that would include various metrics:
1. Historical change of fee cut and frequency:
This would monitor all changes in Query Fee Cut / Reward Fee cut. Small and punctual changes might be fine, but significant and/or frequent change (eg: moving from 10% to 100%) should be a red flag.
2. Unallocated Stake:
Indexers keeping an important percentage of unallocated delegated stake for two long should be a red flag.
3. Allocation closing frequency:
Indexers can chose to close their allocations whenever they want, but Indexers closing it as a higher frequency (some are doing it daily) are making an effort (financially with gas cost at least) to bring some certainty to Delegators on their rewards. This should give some bonus points.
4. Number and quality of subgraphs indexed:
Indexers indexing many subgraphs are more reliable from a Delegator perspective (A Delegator is less exposed to drops in query fees on a subgraph) , and they should follow the curation signals to maximize indexing rewards. A significant deviation from it (eg: indexing subgraphs with no usage), should be a concern for Delegators.
5. Financial reward
APY is of course an important metric for Delegators (past and current performance)
I might have more ideas of metrics and KPIs that could be added along the way. Do you see any other important metrics? Would you support such proposal?