First published 18 December 2020, the day after the network opened. Expanded in October 2026 so a query answer is not described as the chain itself, and so 10 billion is not described as a ceiling. The Graph is a marketplace for reading blockchain data. A subgraph is a set of instructions for one dataset. Indexers run the machines that serve it. Curators point GRT at the datasets they think matter. Delegators point GRT at an indexer. GRT is the token those jobs use. It is an Ethereum token. Ethereum without the jargon is the ledger it sits on. The Graph is not a second chain, and GRT does not pay Ethereum’s fee.
The launch supply was 10 billion, on 17 December 2020. New GRT is minted for indexers. The launch design started that issuance near 3 percent a year and left the rate to governance. Burns take the other direction: a tax on delegation and on curation is destroyed, and a slice of query fees can be destroyed. If more is minted than burned, the supply rises. A price times 10 billion is the opening figure, not the live count.
A signal can come back smaller
An indexer stakes GRT to serve queries. The docs have published a large minimum self-stake. Read the current number. Delegating is not running the machine. If the indexer is slashed, a share of the delegated stake can be taken. Curating deposits GRT on a curve. You can get back less than you put in, because the curve moves. Neither job is a savings account. Staking is a lock and a queue, not a savings account. This page will not walk through running a node.
A query answer is only as good as the instructions in the subgraph and the indexer who ran them. The protocol does not know whether the numbers are the ones you meant. For years a hosted service, a company server, answered queries without this stake. A company server can be turned off. That is not a halt of Ethereum, and it is not a burn of your GRT. DeFi is software with rules you cannot call support about. Nothing here is an instruction to index, to signal, or to buy GRT.
