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The Graph is granting $12.5 million for initial” efforts to promote Web3 standards
Messari has received a $12.5 million developer grant from The Graph Foundation to advance its efforts within the ecosystem The crypto intelligence platform said it will use the grant to expand resources and further work toward its open data mission Crypto intelligence platform Messari said on Thursday it is the first winner of a $12.5 million core developer grant from The Graph Foundation to further data standards in Web3. Messari will continue to work on improving these standards by dedicating resources to developing subgraphs, of which it has already completed 20, the company said in a statement. The Graph is a…
The Graph is granting $12.5 million for initial” efforts to promote Web3 standards
- Messari hat von der Graph Foundation ein Entwicklerstipendium in Höhe von 12,5 Millionen US-Dollar erhalten, um seine Bemühungen innerhalb des Ökosystems voranzutreiben
- Die Krypto-Intelligence-Plattform sagte, sie werde den Zuschuss nutzen, um Ressourcen zu erweitern und weiter auf ihre Mission der offenen Daten hinzuarbeiten
Crypto intelligence platform Messari said Thursday it is the first winner of a $12.5 million core developer grant from The Graph Foundation for further data standards in Web3.
Messari will continue to work on improving these standards by dedicating resources to developing subgraphs, of which it has already completed 20, the company said in a statement.
The Graph is a protocol for building decentralized applications on Ethereum and indexing and querying data from various blockchains. Considered by some to be a critical layer of Web3 development, it supports 34 different networks including Ethereum, Near, Arbitrum and Polygon.
His foundation, meanwhile, is tasked with managing the protocol's ecosystem while also serving developers and community members.
A subgraph defines what data Ethereum's The Graph indexes and how the data is stored, according to a Blog entry. The problem, according to The Graph, is that data points need to be collected across multiple protocols and often face a lack of standardization, which proves cumbersome and inefficient.
Two protocols that have many similarities, e.g. Some applications, such as AAVE and Compound, can have significantly different application programming interfaces. The Graph Protocol allows developers to boot so-called subgraphs into their existing project's smart contracts to quickly query blockchain data.
Messari said the grant will help further advance open source data standards and the development of “high-quality” subgraphs within The Graph ecosystem.
“We are proud to have received the first-ever Core Subgraph Developer Grant from the Graph Foundation,” said Ryan Selkis, CEO of Messari.
“We share The Graph community’s belief that structured on-chain data should be accessible to everyone, not just enterprise data consumers.”
Messari also said it plans to create an additional 200 subgraphs for Web3 protocols and has begun creating standards and DeFi working groups to share best practices with other DeFi applications.
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The post The Graph Grants $12.5M in 'First Ever' Effort To Drive Web3 Standards is not financial advice.