Blockchain indexing startup, The Graph Foundation has awarded a $48 million grant to GraphQL core developer, The Guild who will help in developing SubGraphs for the broader The Graph ecosystem.
The Graph is a blockchain systems indexing protocol that is essential in pulling web3.0 blockchain data, making them securely accessible to developers and users via a decentralized marketplace where queries are sent. The platform provides an avenue whereby developers who needed the indexed data can send payments for the queries generated.
With The Guild now a part of The Graph’s core developers, the team experienced as a developer in the GraphQL that was developed by Facebook, will now help in the development of SubGraphs for enhanced Web3.0 evolution. The Guild will also collaborate with other developers in The Graph ecosystem and work towards improving features like subgraph composition, analytics, and mutations.
With the deal billed to span four years, The Guild will also build out new subgraph standards, features, and The Graph Node’s querying capabilities, all of which will fasttrack the creation of highly functional applications using the Graph.
Getting a Boost for The Graph Foundation
According to Eva Beylin, the director of The Graph Foundation, the onboarding of the proficient GraphQL developers will serve as a major boost that will improve functionality for dapp development that could catalyze overall web3 growth.
“The Guild’s experience innovating with GraphQL is unparalleled – they are the best-positioned team to contribute to open APIs for The Graph and to support the needs of web3 application developers,” Beylin said.
With the Web3.0 and metaverse ecosystem at the earliest phases of its evolution, many blockchain outfits including NEAR are heavily invested in pushing the frontiers of the metaverse development with a series of grants they have been issuing. The indexing protocol has given about 4 grants to developers this year with the latest coming a few days ago when $60 million was given to Semiotic AI. StreamingFast, Edge & Node remains the other outfits that have gotten the grant.
At present, The Graph offers indexing services across as many as 25 different blockchain protocols including Ethereum, NEAR, Arbitrium, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, and PoA.