Messari releases The Graph Q2 report: Hosted services launched 1,082 subgraphs on the mainnet, a 39% increase quarter-over-quarter

ChainCatcher news, Messari released the Q2 2023 report for the decentralized indexing protocol The Graph, which shows:

First, as of Q2 2023, The Graph's hosted service has released 1,082 subgraphs to the mainnet, a 39% increase compared to the previous quarter.

Second, the ongoing migration of The Graph protocol smart contracts to Arbitrum's L2 aims to provide The Graph's users with a seamless and low gas fee decentralized data experience.

Third, in Q2 2023, The Graph's demand-side revenue in USD decreased by 48% quarter-over-quarter, due to the optimization of DApp query volumes and a general reduction in governance activities and decentralized infrastructure usage.

Fourth, in Q2 2023, indexing reward revenue increased by 3% quarter-over-quarter, exceeding $9 million; of the total indexing rewards distributed in the second quarter, delegators received 64%.

Fifth, following the MIPs incentive program, The Graph's active indexers decreased by 29% quarter-over-quarter, while delegators and curators grew by 2% and 3%, respectively.