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My Chads! Yesterday $GRT The Graph had its incredible launch on Coinbase. It started around 12c, had it's dip to 10c and is now at 17c.
I bought the dip yesterday, with The Graph now being one of my biggest holdings. Let me ELI5.
I bought the dip yesterday, with The Graph now being one of my biggest holdings. Let me ELI5.
1/ So Chads, what is The Graph? Before we discuss that, let's talk about what a blockchain is.
A blockchain is in essence a decentralized database that (e.g. Ethereum) can do some calculations. What if you want to use data from this blockchain for your application? That's hard.
A blockchain is in essence a decentralized database that (e.g. Ethereum) can do some calculations. What if you want to use data from this blockchain for your application? That's hard.
2/ Why is that hard?
Because there is no single database to get your information from. All Ethereum nodes together "form" the database. More complicated queries e.g. "How much tokens did X have at time Y" requires you to see the whole history.
Because there is no single database to get your information from. All Ethereum nodes together "form" the database. More complicated queries e.g. "How much tokens did X have at time Y" requires you to see the whole history.
3/ Besides it being hard and not efficient to get data from a blockchain, you also doesn't want this data from a centralized data feed for a decentralized application. Why? Because that centralized data feed becomes the single point of failure.
4/ So, we have a problem:
- Data on the blockchain is hard to get and is not efficient (i.e. costly) to obtain.
- Data can't come from a centralized party, as this would become the single point of failure in the decentralized app.
And this is exactly what The Graph $GRT solves.
- Data on the blockchain is hard to get and is not efficient (i.e. costly) to obtain.
- Data can't come from a centralized party, as this would become the single point of failure in the decentralized app.
And this is exactly what The Graph $GRT solves.
5/ The Graph is a decentralized data feed which allows consumers to query data efficiently from a decentralized source. I won't go over the technical details, see more info in last post.
Any token needs good token economics, else there is no value accrual. So what about $GRT?
Any token needs good token economics, else there is no value accrual. So what about $GRT?
6/ The Graph has two main uses for $GRT:
1. The data feeds in the ecosystem (Indexers) need to stake $GRT to be able to provide services.
2. Allows people to stake $GRT to an indexer (Curators) to "signal" its a good data feed in exchange for fees.
3. Internal payment currency.
1. The data feeds in the ecosystem (Indexers) need to stake $GRT to be able to provide services.
2. Allows people to stake $GRT to an indexer (Curators) to "signal" its a good data feed in exchange for fees.
3. Internal payment currency.
7/ The requirement of staking by Indexers and Curators results in a natural demand for the $GRT token, which scales with usage of the platform. I.e. additional usage results in value capture of the token, which is what you want as a token holder.
8/ So will The Graph be used in the future? Oh wait. The Graph is actually being used right now unlike 90% of the top 100 of crypto coins. Subgraphs include @compoundfinance @UniswapProtocol @synthetix_io @AaveAave @BalancerLabs and 1595+ more subgraphs.
9/ The Graph hit over 60M of daily queries in June 2020 and continues to grow. Protocols actually being used is rare (but luckily becoming less rare). The Graph is one of those protocols that forms a primitive of DeFi.
10/ Now we all know technical fundamentals aren't everything about how a price will perform. Now let's talk about some other aspects why The Graph will in my opinion perform well the next months.
A. Strong backers.
B. Low inflation in the next months.
C. "Normie" friendly coin.
A. Strong backers.
B. Low inflation in the next months.
C. "Normie" friendly coin.
11/ A. (Very) Strong backers.
@hiFramework ? In. @coinbase ? In. @coinfund_io ? In. @multicoincap ? In. And a lot more.
The coinbase listing was a testify to the strong backers. This was also the first time since 2017 that Coinbase did a FIRST listing. That says something.
@hiFramework ? In. @coinbase ? In. @coinfund_io ? In. @multicoincap ? In. And a lot more.
The coinbase listing was a testify to the strong backers. This was also the first time since 2017 that Coinbase did a FIRST listing. That says something.
12/ B. Low inflation
Private sale and seed round is locked for at least 6-12 months. That means 6-12 months of only 3%-5% inflation (i.e. the community tokens).
Virgins: "But sir the FDV is high!!"
Chads: "Private sale and seed wants to pump my bags prior to their unlock."
Private sale and seed round is locked for at least 6-12 months. That means 6-12 months of only 3%-5% inflation (i.e. the community tokens).
Virgins: "But sir the FDV is high!!"
Chads: "Private sale and seed wants to pump my bags prior to their unlock."
13/ C. "Normie" friendly coin
The Graph = decentralized data (feed). Easy narrative.
It has a low price (below a dollar...today :)) which new investors love. It's on Coinbase. It also has a cool ticker name and reminds people of something they know. Yes, this is important.
The Graph = decentralized data (feed). Easy narrative.
It has a low price (below a dollar...today :)) which new investors love. It's on Coinbase. It also has a cool ticker name and reminds people of something they know. Yes, this is important.
14/ Alright enough about The Graph. I'll see you at 1$. It's currently sitting at a 200M USD marketcap and I see this going to a billion+ USD cap in the next months. For more information about the ecosystem:
https://thegraph.com/blog/the-graph-network-in-depth-part-1 https://thegraph.com/blog/the-graph-network-in-depth-part-2
https://thegraph.com/blog/the-graph-network-in-depth-part-1 https://thegraph.com/blog/the-graph-network-in-depth-part-2
Ps. Sorry about the fucking hindsight post, I hate those. I wanted to post this thread earlier, but it took a few hours to make. Should have made a post yesterday to quickly alert you guys and make the tweet storm today. Won't happen again.
