The Graph Foundation faucets protocol infrastructure developer for $60M grant
The Graph Foundation, the grants program behind the Ethereum (ETH) indexing protocol, has tapped StreamingFast to additional the event of its so-called decentralized web, doubtlessly setting the stage for extra real-world use instances of Web 3.0.
StreamingFast will present The Graph with its infrastructure platform, core IP and API merchandise, in addition to entry to core builders and different human assets, the businesses introduced Thursday. In addition to receiving the $60 million grant, StreamingFast will turn into a part of The Graph’s ecosystem and a core element of its long-term infrastructure plans.
Although The Graph has bought a portion of StreamingFast’s IP, the latter will retain possession over its model and personnel, the assertion learn.
Eva Beylin, a director for The Graph Foundation, additional defined the character of the partnership:
“The StreamingFast team will collaborate with The Graph community moving forward, as query performance becomes increasingly important to developers and end users. The Graph has always been a steward of decentralization, and funding another core development team is further evidence of our commitment to a decentralized future.”
Related: The Graph explores integrations for Bitcoin, Polkadot, and different Layer-1 blockchains
The Graph launched its mainnet in December 2020 with loads of fanfare. GRT, the platform’s native token went parabolic in its first two months, finally peaking at a worth of $2.88 in February. GRT is at the moment buying and selling round 75% beneath its all-time excessive.
In phrases of whole queries, The Graph has registered important progress since June 2020. The protocol’s hosted service processed 20 billion queries in April of this yr, up from simply 1 billion lower than a yr earlier.