Query fees are a well-known component of The Graph and will eventually become the main source of revenue within the protocol. However, right now they are serving as an indicator of the protocol’s progression.
Over the last 7 epochs (days) the query fees have jumped significantly.
Current query fees are a combination of queries from migration partners (the original 10 subgraphs) and test queries from the developers.
The increasing query traffic reveals bottlenecks to the developers and enables indexers to verify their infrastructure. The developers are actively upgrading and tweaking the protocol to ensure smooth operation as the protocol ramps up. Indexers are using the query traffic to proof their systems. After two weeks of minimal query traffic, the rapidly rising query volume indicates that the team is taking that testing to the next level.
GRTIQ addressed this process in their 12th episode GRTiQ Podcast: 12 Migration Special
Jim Cousins from Wavefive mentioned that the query volume levels he’s witnessing now are “night and day” compared to what he saw a couple of months ago, containing fewer errors or failed queries. He also stated that the latest mainnet upgrade enabled indexers to test their systems by bypassing the main gateway, a further “incremental improvement to the resilience” of the network. These essential improvements to the protocol stem directly from the increased query load, and they indicate the network’s increased robustness.
The Edge & Node team and The Graph Foundation are notoriously tight-lipped regarding upcoming protocol developments, aside from providing general timelines. Their “underpromise-overdeliver” approach regarding The Graph may be frustrating to the crypto universe that thrives on flashy Keynotes and loud marketing campaigns, but The Graph team have chosen to let their work do the talking. Integrations and partnerships with other protocols and blockchains are only revealed when they are operational. The migration of the first few subgraphs was unannounced, even to the indexers. However, recent tweets from Tegan Kline (original Graph team, cofounder of Edge & Node) and Yaniv Tal (cofounder of The Graph protocol, CEO of Edge & Node) turned this information management strategy on its head.
Query fees are coming 👀👩🚀— Tegan Kline (@theklineventure) June 10, 2021
I hope everyone’s using this period of relative calm to recharge and get ready because stuff is going to get crazy soon.— Yaniv Tal (@yanivgraph) June 11, 2021
When individuals and organizations that minimize chatter drop these little bread crumbs, it reassures us that something special is right around the corner.
Additionally, a Curation portal similar to the existing Delegation portal will be coming online within 30 days. Curation will be a vital part of the Graph protocol, guiding Indexers to quality subgraphs, but isn’t necessary amongst only 15 subgraphs.
All of these puzzle pieces allow us to deduce that additional subgraphs will be migrating VERY soon, bringing additional query revenue along with them.