The Graph Migrates Its Billing Contract To Arbitrum
Key Points:
- Decentralized indexing protocol The Graph announced its billing contract had been migrated to Arbitrum to reduce transaction time and cost.
- Now, users will pay the subgraph query fees on the Arbitrum network.
- They can still add GRT to their billing balances on the Ethereum mainnet. The billing contact will bridge the GRT in the balances to Arbitrum, with no manual bridging needed.
Protocol for decentralized indexing in order to speed up transactions and lower costs, The Graph stated that its billing contract had been moved to Arbitrum.
The fees for subgraph queries on the Arbitrum network are now paid by users.
Indexers are node operators in The Graph Network that stake Graph Tokens (GRT) in order to provide indexing and query processing services. Indexers earn query fees and indexing rewards for their services. They also earn from a Rebate Pool that is shared with all network contributors proportional to their work, following the Cobb-Douglas Rebate Function.
GRT that is staked in the protocol is subject to a thawing period and can be slashed if Indexers are malicious and serve incorrect data to applications or if they index incorrectly. Indexers also earn rewards for delegated stakes from Delegators to contribute to the network.
Indexers select subgraphs to index based on the subgraph’s curation signal, where Curators stake GRT to indicate which subgraphs are high-quality and should be prioritized. Consumers (e.g. applications) can also set parameters for which Indexers process queries for their subgraphs and set preferences for query fee pricing.
On the Ethereum mainnet, users can still add GRT to their billing balances. There is no need for manual bridging because the billing contract will bridge the GRT in the balances to Arbitrum. Users also can keep track of their balances based on how much GRT they have added to the billing balance, how much they have removed, and their invoices.
The billing contract is only designed to bridge GRT from the Ethereum mainnet to the Arbitrum network. If users would like to transfer GRT from Arbitrum back to Ethereum mainnet, they will need to use the Arbitrum Bridge.
Earlier, as Coincu reported, the decentralized indexing protocol announced that it would support Layer-2 Polygon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
DeFi
The Graph Migrates Its Billing Contract To Arbitrum
Key Points:
- Decentralized indexing protocol The Graph announced its billing contract had been migrated to Arbitrum to reduce transaction time and cost.
- Now, users will pay the subgraph query fees on the Arbitrum network.
- They can still add GRT to their billing balances on the Ethereum mainnet. The billing contact will bridge the GRT in the balances to Arbitrum, with no manual bridging needed.
Protocol for decentralized indexing in order to speed up transactions and lower costs, The Graph stated that its billing contract had been moved to Arbitrum.
The fees for subgraph queries on the Arbitrum network are now paid by users.
Indexers are node operators in The Graph Network that stake Graph Tokens (GRT) in order to provide indexing and query processing services. Indexers earn query fees and indexing rewards for their services. They also earn from a Rebate Pool that is shared with all network contributors proportional to their work, following the Cobb-Douglas Rebate Function.
GRT that is staked in the protocol is subject to a thawing period and can be slashed if Indexers are malicious and serve incorrect data to applications or if they index incorrectly. Indexers also earn rewards for delegated stakes from Delegators to contribute to the network.
Indexers select subgraphs to index based on the subgraph’s curation signal, where Curators stake GRT to indicate which subgraphs are high-quality and should be prioritized. Consumers (e.g. applications) can also set parameters for which Indexers process queries for their subgraphs and set preferences for query fee pricing.
On the Ethereum mainnet, users can still add GRT to their billing balances. There is no need for manual bridging because the billing contract will bridge the GRT in the balances to Arbitrum. Users also can keep track of their balances based on how much GRT they have added to the billing balance, how much they have removed, and their invoices.
The billing contract is only designed to bridge GRT from the Ethereum mainnet to the Arbitrum network. If users would like to transfer GRT from Arbitrum back to Ethereum mainnet, they will need to use the Arbitrum Bridge.
Earlier, as Coincu reported, the decentralized indexing protocol announced that it would support Layer-2 Polygon.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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