The Graph provides blockchain data and receives query fees from demand-side users. Supply-side users also pay fees for delegating to a node, curating subgraphs, disputes and when slashing occurs (revenue). Indexers, delegators and curators perform indexing services for which they are compensated by The Graph (expenses).

The Graph is an indexing protocol built on Ethereum and other blockchains. The Graph was founded by Brandon Ramirez, Jannis Pohlmann, Yaniv Tal and launched in 2018.

GRT tokenholders own and govern the protocol. They currently take all of the total fees (revenue). The Graph’s investors include Multicoin Capital, Coinbase Ventures, Framework ventures, etc.

governance

github

twitter

discord

etherscan

website

Infrastructure

The Graph

# The Graph Active users (daily) Methodology

## 1. Overview

The Graph daily active users (DAU) metric measures the number of unique user addresses that interact with The Graph protocol contracts each day across Ethereum, Arbitrum, and Polygon networks. This metric captures ecosystem participation by counting distinct users who perform any protocol-related activity, including delegation, curation, disputing, or querying. The calculation identifies users by their on-chain interactions with The Graph's core contracts and classifies them by role to provide insights into different types of network participation.

## 2. Data sources

The DAU calculation relies on parsed blockchain events from The Graph protocol's smart contracts across three networks:

- **Ethereum events**: Parsed `StakeDelegated` events from the Staking contract capturing delegation activity, `Signalled` events from the Curation contract capturing curation signals, and `DisputeAccepted`/`DisputeRejected` events from the DisputeManager contract capturing dispute resolution activity
- **Arbitrum events**: Parsed `TokensPulled` events from the Billing contract capturing query fee payments, `StakeDelegated` events from the Staking contract, `Signalled` events from the Curation contract, and dispute-related events from the DisputeManager contract
- **Polygon events**: Parsed `TokensPulled` events from the Billing contract capturing query activity on Polygon
- **Event metadata**: Block timestamps, transaction hashes, and log indexes for each event to ensure proper deduplication and temporal ordering

## 3. Step-by-step calculation

### Component A: User interaction identification

- **Purpose**: Extract and classify user addresses from The Graph protocol events across multiple chains
- **Logic**: The system scans parsed blockchain events from The Graph's core contracts on Ethereum, Arbitrum, and Polygon networks. For each relevant event type, it extracts the user address from the appropriate event parameter and assigns a user type classification. `StakeDelegated` events identify Delegators through the `delegator` parameter. `Signalled` events identify Curators through the `curator` parameter. `DisputeAccepted` and `DisputeRejected` events identify Disputors through the `fisherman` parameter. `TokensPulled` events identify Queriers through the `user` parameter. Each interaction is tagged with the originating chain and includes transaction metadata for deduplication.
- **Key fields**: `user_address` contains the participating wallet address, `user_type` classifies the role (Delegator, Curator, Disputor, Querier), `chain` identifies the blockchain network, `block_timestamp` provides the exact timing of interaction, `transaction_hash` and `log_index` enable precise event identification

### Component B: Business classification and metadata enrichment

- **Purpose**: Add consistent business context and categorization to all user interactions
- **Logic**: Each user interaction is enriched with standardized business metadata regardless of the specific event type or chain. All interactions are classified under the infrastructure market sector since The Graph provides data infrastructure services. The business segment is set to data provider reflecting The Graph's role in the web3 data ecosystem. Product identification is left null as this metric aggregates across all The Graph protocol components rather than specific products.
- **Key fields**: `market_sector_id` set to infrastructure for all records, `business_segment_id` set to data provider for all records, `product_id` remains null for protocol-level aggregation

### Final aggregation

- **Combining components**: All classified user interactions from different chains and event types are combined into a single dataset, maintaining the user address, user type, chain, and timestamp for each interaction
- **Time aggregation**: Block timestamps are truncated to day boundaries using timestamp truncation, grouping all interactions within a 24-hour period regardless of the specific time they occurred
- **Distinct user counting**: Within each day, the system counts unique user addresses to eliminate cases where the same user performed multiple interactions on the same day, ensuring each user is counted only once per day regardless of how many transactions they made
- **Chain availability filtering**: The final results are filtered to include only data from chains that have sufficient data availability and quality for the requested time period

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique revenue-generating users over a fixed 24-hour window.

The GraphGRT

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown