Messari released The Graph’s second quarter 2023 report, which showed that as of the second quarter of 2023, The Graph’s hosting service had released 1,082 subgraphs to the mainnet, a 39% increase from the previous quarter. The Graph protocol smart contracts are undergoing L2 migration to Arbitrum, aiming to bring an efficient decentralized data experience to The Graph users.
The Graph’s USD demand-side revenue decreased 48% quarter-over-quarter in Q2 2023 due to dapp optimization query volume and an overall decrease in governance activity and usage of decentralized infrastructure.
Indexing reward revenue increased 3% quarter-over-quarter to over $9 million in Q2 2023. Delegators received 64% of the total indexing rewards distributed in Q2 2023. After implementing the MIP incentive program, The Graph’s active indexers decreased 29% quarter-over-quarter, while delegators and curators increased 2% and 3%, respectively.
