Welcome to this month in curation June. I am amazed and proud to see the ecosystem come together to work on migration. We have now entered phase two, and our indexers have already served hundreds of millions of queries on the decentralized network.
Proof Of Attendance Protocol NFT Badges
POAP was one of our Wave 1 Grantees. They have minted 11 NFT Badges representing participation in The Graph Network. The badges were designed by POAP’s Guadalupe with support from Edge & Node’s lead designer Carl Hagerling. Eligible participants can claim the badges for free using POAP with xDAI.
Anyone who curates during the first 90 days after curation goes live, will be eligible for the curator badge. Make sure you understand the associated risks & benefits before curating.
The network will be an open marketplace. Indexers are free to create their own cost models. They could charge a fixed price per query, or implement dynamic pricing based on factors like complexity of the query. If you want to learn more about cost models, I highly recommend the Cost Model Workshop by Zac @That3Percent.
We have also had workshops looking at Disputes & Arbitration and an Intro to Scalar & Vector Node. These are more geared towards indexers, but if you’d like to dive deeper into how the protocol operates, they are definitely worth a watch.
Requests For Proposals
- The Graph Foundation is thrilled to launch 43 RFPs for subgraphs, dapps, Indexer tooling & community projects to grow the Web3 ecosystem. If you see a project you’re well suited for, make sure to apply and we’ll be in touch with the best candidates.
As the Graph ecosystem matures, many areas needs to be clarified, modified and expanded upon. Below are some highlighted topics that have been worked on for the last few weeks. The links are timestamped, and will take you directly to the topic in question. As always - we encourage community members to join our discussions.
Arbitration Charter (GIP-0009) Forum | Town Hall#3 | Town Hall#4 | Office Hours#15
The Graph has a protocol role called an Arbitrator who is assigned through decentralized governance. The Arbitrator has the ability to decide the outcome of disputes in the protocol. Their role is to support a healthy and functioning network where Indexers perform their work correctly, while minimizing the risk to honest Indexers that interact with the protocol in good faith. The Arbitration Charter seeks to establish how the Arbitrator should act, beyond what is expressible or currently expressed in smart contract code.
Subgraph API Versioning and Feature Support Forum | Town Hall#3 | Town Hall#4 |
A core value proposition of The Graph, as a decentralized protocol for indexing and querying public data, is that a consumer can trust the integrity of the work performed by the network, with minimal or zero trust in any Individual Indexer. However, the more trustless the mechanism, the greater the research and engineering effort required to implement it. This proposal describes a support matrix comprising which subgraph API features can be used in conjunction with which features of the protocol. In other words - allowing granular support for new features.
- Indexing rewards are earned for both Indexer stake as well as delegated tokens.
- Reward Cut. This parameter is set by the indexer. It determines the percentage of the total rewards the indexer keep for themselves. An example Indexer with a Reward Cut of 50% would receive half the indexing rewards, regardless of how much GRT is delegated to them.
- Effective Reward Cut. It is natural to think the indexer should keep 100% of the revenue accrued from his own stake in the token pool. It would also make sense for an indexer to take a cut of the “Delegators’ rewards” as a “commission fee” for their services. This is the Effective Reward Cut. The effective Reward Cut is dependent on the (total) Reward Cut, as well as the ratio between Indexer stake and delegated tokens.
- The Effective Reward Cut changes every time someone delegate or undelegate to an indexer. To keep a stable effective cut, an Indexer would have to constantly adjust their Reward Cut parameter. This has been a contributing factor to Indexers not setting a self-imposed parameter cooldown
Now that we understand the current Indexer cut mechanism, let’s look at the proposals;
- The community have proposed to let indexers set a fixed effective reward cut. This change could benefit both delegators and indexers; It would be easier for delegators to assess if an indexer have favourable cuts, and indexers won’t need to constantly manage their cut. If this gets implemented we might also see more Indexers set a self-imposed parameter cooldown.
- An additional proposal is to take a snapshot of the Indexer cuts when an allocation is opened, and then use that cut to distribute rewards when the allocation is closed. This would stop Indexers from changing the parameters right before they close an allocation.
Each episode features expert subgraph developers sharing their experience building on The Graph. We are doing deep dives into specific features or tooling used for subgraph development. This series is of great value to both beginner and experienced subgraph developers.
We just published Developer Highlights #3. We continue our talk with Ivan Herger @ivan and Sebastian Siemssen @fubhy from Enzyme Finance. If you haven’t seen the first part, I highly recommend checking it out.
In the second part we take on our most requested topic for developer highlights - subgraph performance. Sebastian and Ivan have two years of experience making subgraphs for Enzyme Finance. Learn how they have optimized their subgraph to meet the scaling requirements of a truly ambitious DeFi subgraph. We also talk about Timeseries data tracking and AssemblyScript quirks.
Watch the full episode, or jump straight to each topic using the timestamps below the video.
If you have any suggestions on topics we should cover or initiatives you’d like to see, we would love to hear it. Comment below, or contact me directly. You can also find me at discord Slimchance#1699