GRT is the native token of The Graph, a decentralized indexing protocol designed to solve one of the Kry blockchain’s problems, like accessing and querying data efficiently. While blockchains are good at recording transactions, they aren’t built to organize or search data easily.
The Graph addresses this issue through “subgraphs,” open APIs that allow developers to define how blockchain data is indexed and structured. Once indexed, the data can be retrieved instantly using GraphQL, making blockchain applications much faster and easier to build.
Today, The Graph indexes data across more than 90 blockchains, acting as a decentralized data layer for Web3. Because of its role in making blockchain data easily searchable, it is often referred to as the “Google of blockchains.”
As Web3 adoption expands and AI-powered applications continue to emerge, the need for reliable, structured on-chain data is growing. This is where The Graph comes in, by positioning itself as one of the core infrastructure protocols in the decentralized ecosystem.
The protocol enables developers to efficiently access and organize blockchain data through open APIs across Ethereum, Polygon, Arbitrum, and dozens of other networks.
Beyond its established presence in DeFi, The Graph is now benefiting from the growing AI-blockchain narrative, as AI agents require accurate and verifiable on-chain data to function effectively.
Yaniv Tal (Project Lead), Jannis Pohlmann (Tech Lead), and Brandon Ramirez (Research Lead) founded The Graph. They launched the project on Ethereum in 2018.
From the funding perspective, the project has gone through multiple rounds. As per reports, in June 2020, The Graph held its private token sale and raised $5 million, with major participants including Multicoin Capital, Digital Currency Group, and DTC Capital.
The project went on public sale in October 2020 and raised $12 million. During that period, the GRT token’s price was $0.03. Meanwhile, in January 2021, the project further raised $50 million from Tiger Global Management.
GRT operates under a nearly fully unlocked token model. Its total supply stands at 10.8 billion tokens, of which approximately 9.7 billion GRT are already unlocked and circulating in the market.
According to the report, the early team and advisors collectively hold 22.25% of the total supply, while the Graph Foundation controls 19.64%.
Early backers account for 16.45%, followed by backers with another 16.45%. Edge & Node holds 7.74% of the supply, while the public GRT sale represents 4.06%.
Additionally, curator program grants and testnet indexer rewards each account for 3.05% of the total supply. New issuance makes up 2.90%, educational programs hold 2.03%, and the strategic GRT sale also represents 2.03%. Bug bounty programs take up the remaining 0.34%.
In addition, the whales’ concentration seems alarming. Data shows that the top 10 wallets hold 56.6% of the GRT supply, while the top 50 wallets hold 76.5%.
Amid this, a single no-filter wallet accounts for 27.3% of the supply. Such a small concentration could have a strong impact if the wallets move their assets either to exchanges for a sell-off.
The latest data from Nansen discloses that GRT’s top 100 addresses have increased their holdings by 1.4% over the past 30 days. At the same time, GRT’s exchange reserves have jumped by 2.51%.
While whales continue to accumulate the token, a portion of the supply is also moving onto exchanges.
