Why should I delegate my GRT Tokens?
Delegators are individuals who delegate stake to Indexers to contribute to securing the network without running a Graph Node themselves. By delegating to Indexers, Delegators earn a portion of query fees and rewards earned by that Indexer. Delegators select Indexers based on their performance on measures like query fee rates, past slashing and uptime as well as delegator parameters like the cut of fees and rewards from the Indexer.
Delegators cannot be slashed for bad behavior, but there is a deposit tax on Delegators to disincentivize poor decision making that could harm the integrity of the network.
Delegation is done using Network dApp and Metamask, and in this article I will show you how to do this with my own example.
» Need more info? Check the official docs:
First, we need to make sure that:
- The browser has the latest version of the Metamask extension installed;
- There is enough ETH in your wallet to cover transaction fees;
- The Metamask extension is connected to the “Ethereum Mainnet”.
Adding GRT tokens to Metamask:
Open Metamask and click on “Add Token”, search for GRT and add it.
Delegate GRT Tokens via Network dApp
After the balance of GRT tokens is displayed in the Metamask, follow the link https://network.thegraph.com/ in Network dApp.
Please note that when delegating, a commission in GRT tokens is charged in the amount of 0.5% of the delegated amount. In my case, when delegating 100 GRT, the final amount was 99.5 GRT.
It is also worth noting that if you cancel the delegation, the tokens remain blocked for 28 days!
Another important point: you need to pay attention to the fact that indexers can change the size of delegate awards during the delegation process. Therefore, it is necessary to monitor your position from time to time.
Do you still have any doubts?
Check these videos if you still have some doubts!