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Whitepaper read

The Graph

GRT · The Graph

UtilityPays for data indexing on The Graph network.

What it is

The Graph is a decentralized protocol for indexing, caching, and querying data from blockchains and decentralized storage networks via GraphQL. It aims to let anyone access blockchain data without relying on trusted centralized services.

Technology & consensus

Ethereum serves as the consensus layer underpinning the decentralized network. Node operators (indexers) index and serve data while curators signal on useful subgraphs and delegators stake to indexers; the protocol is organized into subprotocols for consensus, P2P networking, storage, query processing, payment channels, governance, and marketplaces.

Token utility

GRT is the protocol's work token: indexers stake it, curators signal with it, and delegators delegate it to indexers. Consumers pay query fees in GRT, and the token secures the network while funding indexing rewards.

Key risks & notes

The 2018-era design may differ from the live network. Indexing correctness and slashing risk fall on indexers. Token inflation and curation economics depend on sustained query demand. It competes with centralized and emerging decentralized data infrastructure.

Primary source

Read the official whitepaper →

Research status

Classification: Whitepaper read · Researched · Source material: official project documents only.

Machine-readable summary →

👁️ Evidence dossier

Verification classClass CFORA-01 scale — verification, not a quality ranking
Claim type · Oracle / data token
What does the holder own?

Title, redemption claim, fractional ownership, reserve exposure — or just narrative.

GRT is The Graph's utility work token: indexers stake it to index subgraphs and serve queries, curators signal subgraphs by staking it, delegators delegate it to indexers for a share of fees, and data consumers pay query fees in GRT. It confers no ownership or asset claim.

high confidence

Evidence: [1] · [2] · [3]

Verified
Who holds the underlying?

Needs an identifiable custodian or entity — not a wallet address or a label.

No underlying exists by design. GRT is a bearer work token securing a decentralized indexing network; no backing asset or custodian is claimed in any project documentation.

high confidence

Evidence: [1] · [2]

Verified
How are reserves checked?

Custodian records → inventory → third-party audit → supply reconciliation.

No reserves exist by design. GRT has new issuance as indexing rewards plus burn mechanics; supply is fully auditable on-chain via the protocol's smart contracts.

high confidence

Evidence: [1]

Verified
How does redemption work?

Eligibility, minimums, fees, KYC, settlement — and what happens to the token.

No redemption is promised by the project. Unstaking/undelegating releases staked GRT after a thawing period; that is withdrawal of work collateral, not redemption of a claim.

high confidence

Evidence: [1]

Verified
Who is liable if redemption fails?

A legally accountable entity and jurisdiction — not a DAO label.

Researched 2026-09-15 — The Graph Foundation is confirmed as the protocol's governance entity (director Eva Beylin, per CoinDesk), but no jurisdiction of incorporation could be confirmed from public sources. Core development is led by Edge & Node (US-based, San Francisco), formerly Graph Protocol Inc.

medium confidence
Unverified

❔ UNVERIFIED means not yet researched — not disproven. Rows marked “researched” were investigated and independent evidence was not found. Coverage expands as FORTUNA verifies. This dossier was researched 2026-09-15. Method: FORA-01 Asset Claim Verification Protocol.

❔ Frequently asked questions

What is The Graph (GRT)?

The Graph is a decentralized protocol for indexing, caching, and querying data from blockchains and decentralized storage networks via GraphQL. It aims to let anyone access blockchain data without relying on trusted centralized services.

What does the holder own?

GRT is The Graph's utility work token: indexers stake it to index subgraphs and serve queries, curators signal subgraphs by staking it, delegators delegate it to indexers for a share of fees, and data consumers pay query fees in GRT. It confers no ownership or asset claim.

What is The Graph's verification status?

The Graph (GRT) carries verification class C (Class C): one or more questions are UNVERIFIED — researched, but independent evidence was not found. Unverified is a legitimate result, not a disproof. What would change it: Independent evidence on the unverified questions would move it — that is what UNVERIFIED invites.

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