圖表：選擇索引器

The Graph 是一種索引協議，提供來自各種來源的鏈上數據，例如 DeFi 交易和流動性池數據。該圖消除了數據消費者（例如應用程式開發人員）建立複雜的基礎設施來獲取鏈上數據的需要。

The Graph is a decentralized protocol that provides onchain data — such as DeFi transactions and liquidity pool data — from various sources. The Graph removes the need for data consumers (e.g., app developers) to build complicated infrastructure to get onchain data. Instead, data consumers pay to query custom APIs — called “subgraphs” — of onchain data via the GraphQL API. Subgraphs define a data schema to be indexed, making that data queryable. Subgraphs can be developed and queried by anyone.

The Graph 是一種去中心化協議，提供來自各種來源的鏈上數據，例如 DeFi 交易和流動性池數據。該圖消除了數據消費者（例如應用程式開發人員）建立複雜的基礎設施來獲取鏈上數據的需要。相反，資料消費者付費透過 GraphQL API 查詢鏈上資料的自訂 API（稱為「子圖」）。子圖定義要索引的資料模式，使該資料可查詢。任何人都可以開發和查詢子圖。

To ensure the protocol runs correctly and efficiently, The Graph Network incentivizes several key roles within its ecosystem of both technical and non-technical participants:

為了確保協議正確且有效率地運行，圖網路在其技術和非技術參與者的生態系統中激勵了幾個關鍵角色：

The Sunrise of Decentralized Data is The Graph’s initiative to upgrade all subgraphs to its distributed network of over 100 independent Indexers. As of the end of Q3’24, over 10,000 subgraphs had successfully transitioned from the hosted service to the decentralized network. This transition corresponded to an all-time high in query fees due to the increasing demand for data indexed by The Graph Network.

去中心化資料的日出是 The Graph 的舉措，旨在將所有子圖升級到由 100 多個獨立索引器組成的分散式網路。截至 24 年第三季末，超過 10,000 個子圖已成功從託管服務過渡到去中心化網路。由於 The Graph Network 索引資料的需求不斷增加，這項轉變對應著查詢費用的歷史最高水準。

Website / X (Twitter) / Discord

網站 / X (Twitter) / Discord

Key Metrics

關鍵指標

Performance Analysis

績效分析

The Graph Network is used by developers and data consumers who pay to query data. The network's performance can be measured by the growth of the volume of queries serviced, the active subgraphs serving queries, and the accrual of query fees.

圖網由付費查詢資料的開發人員和資料消費者使用。網路的效能可以透過服務查詢量的成長、服務查詢的活動子圖以及查詢費用的增加來衡量。

Network Overview

網路概況

Query Volume

查詢量

Demand for data organized by The Graph reached an all-time high of over 5.3 billion queries in Q3’24, up 79% from 2.9 billion queries in Q2’24. The Ethereum Mainnet led the way with 1.7 billion successful queries (32% of the total of 5.3 billion queries) in Q3’24, followed by Polygon with 1.0 billion queries (19%) and Arbitrum One with 780 million queries (15%).

對 The Graph 組織的數據的需求在 2024 年第三季度達到了超過 53 億次查詢的歷史最高水平，比 2024 年第二季度的 29 億次查詢增長了 79%。以太坊主網在2024 年第3 季以17 億次成功查詢（佔53 億次查詢總數的32%）領先，其次是Polygon，有10 億次查詢（19%），Arbitrum One 有7.8 億次查詢（ 15%）。

In terms of subgraphs with the largest query volume, Quickswap V3 (9% of total queries) led the way, followed by Uniswap V3 (7%) and ENS (6%). Notably, query volumes have seen an upward trend over the past six quarters. While the initial growth in query volumes was likely driven by a recovery of crypto activity throughout 2023, there were other recent contributing factors to the increase in query volume, including:

就查詢量最大的子圖而言，Quickswap V3（佔總查詢量的 9%）領先，其次是 Uniswap V3（7%）和 ENS（6%）。值得注意的是，過去六個季度的查詢量呈上升趨勢。雖然查詢量的最初增長可能是由 2023 年加密貨幣活動的恢復所推動的，但最近還有其他因素導致查詢量的增加，包括：

Subgraphs

子圖

To bootstrap The Graph, a hosted service was initially created. This service hosted subgraphs as the protocol gradually transitioned to its decentralized network. The hosted service was free (subsidized by The Graph ecosystem) and offered indexing infrastructure run by Edge & Node, the initial team behind The Graph.

為了引導 The Graph，最初建立了一個託管服務。隨著協議逐漸過渡到去中心化網絡，該服務託管了子圖。託管服務是免費的（由 The Graph 生態系統補貼），並提供 Edge & Node（The Graph 背後的初始團隊）運行的索引基礎設施。

The first decentralized subgraph launched on the decentralized network in Q1'21. Since then, the Sunrise of Decentralized Data has been on a course to upgrade all subgraphs to its distributed network of independent Indexers in three phases: Sunray, Sunbeam, and Sunrise.

第一個去中心化子圖於 21 年第一季在去中心化網路上推出。從那時起，去中心化資料的日出一直在分三個階段將所有子圖升級到其分散式獨立索引器網路：Sunray、Sunbeam 和 Sunrise。

The first phase of the upgrade — Sunray — was completed in March 2024. Sunray brought more chains, free queries, and improved billing, including a free query plan of 100,000 queries per month. This helped developers get started on the network and scale their development.

第一階段的升級——Sunray——於 2024 年 3 月完成。這幫助開發人員開始使用網路並擴展他們的開發。

The second phase — Sunbeam — was concluded in June 2024. Sunbeam focused on upgrading hosted service subgraphs to The Graph Network. The third phase of the upgrade — Sunrise — retired hosted service endpoints and was completed in June 2024.

第二階段——Sunbeam——於 2024 年 6 月結束。升級的第三階段 — Sunrise — 停用了託管服務端點，並於 2024 年 6 月完成。

As a consequence, the number of deployed subgraphs on The Graph’s Network has steadily increased.

因此，The Graph 網路上部署的子圖數量穩定增加。

Over 10,400 active subgraphs successfully transitioned from hosting services to The Graph’s distributed network of independent data indexers as of the end of Q3’24. This translates into a 42% QoQ.

截至 24 年第 3 季末，超過 10,400 個活動子圖成功從託管服務過渡到 The Graph 的獨立資料索引器分散式網路。這相當於環比增長 42%。

To improve performance and reduce costs, The Graph transitioned from Ethereum Layer-1 to Arbitrum Layer-2. As a result, approximately 80% of the active subgraphs (8,000 of the total of over 10,000 active subgraphs) were created on Arbitrum over the past two quarters.

為了提高性能並降低成本，The Graph 從以太坊 Layer-1 過渡到 Arbitrum Layer-2。因此，過去兩個季度大約 80% 的活躍子圖（超過 10,000 個活躍子圖總數中的 8,000 個）是在 Arbitrum 上創建的。

Ecosystem Participation

生態系參與

Subgraphs provide an arena for both technical and non-technical ecosystem participants to interact symbiotically:

子圖為技術和非技術生態系統參與者提供了共生互動的舞台：

Staked GRT is required for indexing subgraphs. As Indexers get more GRT delegated, they increase their capacity to index more subgraphs on The Graph Network. Indexers monetize their indexing and query processing services on The Graph's query market by staking GRT.

索引子圖需要抵押 GRT。隨著索引器獲得更多的 GRT 委託，他們會增加在圖網絡上索引更多子圖的能力。索引器透過抵押 GRT 在 The Graph 查詢市場上將其索引和查詢處理服務貨幣化。

The minimum stake for an Indexer is currently set at 100,000 GRT (approximately $19,000 as of September 30, 2024). In addition to this minimum, Indexers can also receive delegated stake from other ecosystem participants

索引器的最低股權目前設定為 100,000 GRT（截至 2024 年 9 月 30 日約為 19,000 美元）。除了這個最低限度之外，索引器還可以從其他生態系統參與者那裡獲得委託權益