The Graph company or the Graph protocol has launched its ERC-20 based token, the GRT token which is meant for non-US users, and the token sale is scheduled for October 22-24 so let’s read more in our altcoin news.
The Graph Company helps other companies find the blockchain data they are looking for. They are now selling the GRT tokens ahead of its network launch. GRT buyers will help index and curate data and secure the network. the protocol helps people find and sort blockchain data as they announced today about the release of its own ERC20 token, preparing to launch the Graph Network this year.
After an outpour of anticipation we’re excited to announce details of The Graph’s GRT Sale
Prepare to use GRT as an Indexer, Curator or Delegator in the network & help make decentralized apps possible! (Non-US only)https://t.co/PyeAVyGF2A
— The Graph (@graphprotocol) October 13, 2020
Via the token sale scheduled on October 22-24, on the ETH blockchain, the Graph will sell up to 400 million coins on the 10 billion initial token supply at the $0.03 cents per coin. The protocol allows blockchain companies to create and use their own APIs which are a way that applications talk to each other to get precise data. The crypto price charts that we have in our news are all coming from one website sending a query to another for the received data.
The Graph is now used by a variety of Web 3.0 applications like the decentralized exchange Uniswap and crypto provider Coingecko. According to the press release, the network will be a “decentralized network of Indexers, Curators, and Delegators working together to organize the world’s blockchain data, serve applications, and accelerate the transition to a decentralized future.” As such, the token sale will spread the ERC20 token among these kinds of users:
- Indexers that operate the network nods and stake the token so they can earn rewards and fees when consumers make a query
- Curators that decide what ETH data to index and how to store the data, by depositing GRT and earn query fees.
- Delegators who want to secure the network without having to run a node.
Of course, not everyone will earn a GRT token as consumers pay the query fees to get the data they are looking for. Registration for the token sale that is only open to non-US users, will close on October 15th.