The Graph mainnet launched on Dec. 17. GRT holders can now delegate their tokens to an indexer in order to contribute to the security of the network. They earn a portion of query fees and indexing rewards for doing that.
In this step-by-step guide, you will learn how to delegate your GRT token on The Graph using the Network Beta dApp and Metamask in a few simple steps.
Step1: Setup your GRT delegation operations
Step 2: Delegate your GRT via the Network Beta dApp
Step 3: Manage your GRT staking operations
Before you get started, please make sure to have the latest version of the Metamask Browser Extension installed and to have enough ETH in your wallet to cover transaction fees. Furthermore, ensure that Metamask is connected to “Ethereum Mainnet”.
Using the Network Beta dApp with Metamask allows you to use a hardware wallet such as a Ledger Nano device for your delegation operations and is highly encouraged as it adds another layer of security. In case you want to use a hardware device for your delegation operations, connect Metamask to your device via the Metamask Browser Extension. You can name your account any way you want. Make sure to have the ETH app open on your Ledger device and to have ‘Contract Data’ allowed within the ETH app on your device.
Step 1: Setup your GRT delegation operations
To have Metamask display your GRT token, you need to add it first. Open Metamask, click “Add Token”.
Update (02|2021): You can now look for ‘GRT’ in the Metamask search bar and directly add it without going through the custom token tab.
Then switch to the “Custom Token” tab. Input the following information, click “Next” and then “Add Tokens”.
- Token Contract Address: 0xc944e90c64b2c07662a292be6244bdf05cda44a7
- Token Symbol: GRT
- Decimals of Precision: 18
In case you already own GRT with this address, you will now see your tokens displayed within Metamask. Otherwise, you need to fund this address properly before you can continue. Simply copy your address and withdraw/send funds to it. Once you successfully funded your account, you can find your token balance under “Assets” on Metamask.
Again, make sure to have enough ETH in your wallet to cover transaction fees.
Step 2: Delegate your GRT via the Network Beta dApp
Now it’s time to delegate! Head over to https://network.thegraph.com/. This is the Network Beta dApp and the Graphs’ main Staking UI.
Click “Connect Wallet” and “Metamask” in the pop-up. Now choose the address you want to be using in the Metamask Notification window, click “Next” and then “Connect”.
You will now find your account displayed in the upper right corner of the Network Beta dApp. You can click it to see your GRT balance as well as to disconnect or switch accounts.
If you scroll down in the Network Beta dApp, you can find a list of all the available Indexers as well as some parameters relevant for your staking operations.
You can find us as:
Our full Indexer address:
The “Fee Cut %” shows the percentage of query fee rebates that an Indexer keeps for him/herself, whereas the “Reward Cut %” indicates the percentage of indexer rewards that an indexer keeps for him/herself.
To start the delegation process, click on the delegation icon on the very right of the indexer that you would like to delegate to. Then click “Delegate”.
In the overlay menu that appears, you can choose the amount of GRT you want to delegate to the respective validator. Please note that delegating incurs a fee of 0.5% on the amount you are delegating.
Click “Submit Transaction” to continue. Then click “Confirm” in the Metamask Notification window to allow the dApp to spend your GRT. Afterward, click “Confirm” to transmit your delegation transaction.
Parameters Cooldown refers to the amount of time that needs to pass before an Indexer can change its’ query fee or its’ indexing reward cut.
In case you are using a Ledger, you need to approve and sign the transactions on your device as well.
Please note that this might take a while — hang in there and do not reload the page.
And that’s it, you are now a delegator on The Graph network and help to secure the query and indexing layer of web3! Welcome aboard and thank you for delegating to our Indexer.
Please note that the network is bootstrapped and subgraphs will transition from the hosted service to mainnet in the course of the next few weeks. Hence, the amount of query fees one can earn is limited at the moment.
Step 3: Manage your GRT delegation operations
You can manage your delegation operations via the Network Beta dApp.
Click on your address in the upper right corner of the Network Beta dApp to find an overview of the Indexers you are delegating to. Within this menu, you can choose to undelegate or delegate more GRT to the respective delegator. Alternatively, you can also do this within the Indexer overview that you find on the main page of the Network Beta dApp.
Please note that when you unbond your GRT, they remain locked and illiquid for a period of 28 days. There is no delegator slashing implemented in The Graph and you can choose to delegate any amount of GRT.
You might find these resources useful in case you want to learn more about The Graph
Mainnet Launch Announcement
The Graph Network Launches its Mainnet
The Graph Network is now live, paving the way for truly decentralized applications run a marketplace of service…
Explainer in depth (1 & 2)
The Graph Network In Depth - Part 1
Updated December 14th, 2020 This post was originally published in October of 2019 and has been updated to reflect…
The Graph Network In Depth - Part 2
This is the second part of a two part post exploring the design of The Graph Network. You can read part one here. In…
The Graph GRT Token Economics
The Graph is a protocol for organizing blockchain data and making it easily accessible. It's powering many of the most…
Token Sale & Distribution
Announcing The Graph's GRT Sale and Distribution
Updated December 17th, 2020 For nearly three years we've been working to bring The Graph Network to mainnet, and today…
The Graph official Telegram channel
The Graph Official Community
The Graph Official Community 16 350 members, 3 557 online The Graph is an indexing protocol for organizing blockchain…
The Graph Explorer
Graph Explorer - Find all the data being indexed on The Graph
Discover subgraphs by the leading projects in the Web3 ecosystem. All this data is immediately available for querying…
The Graph Staking UI (Network Beta dApp)