BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
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The Graph is a decentralized protocol for indexing and querying data from blockchains. If you are building an application that accesses data from the blockchain, it might take a long time to look through each block on the blockchain and extract relevant data. To solve this issue, you could build your own service to index data and store it in a conventional database. But this takes time and money.
Here’s where The Graph comes in. By allowing multiple types of network participants with specific roles, The Graph enables developers to build applications that can access blockchain data in a decentralized way without sacrificing performance. This
Let’s look at the participants in The Graph ecosystem. Indexers: They stake GRT tokens and operate a Graph Node to index relevant data and process queries. They earn Indexing Rewards and Query Fees. Indexers are incentivized to serve correct data as their staked tokens will be slashed if they act maliciously. Delegators: Delegators stake their GRT tokens on behalf of one or more Indexers. As a result, Delegators earn a portion of the Indexer rewards and Query fees without running their own Graph Node. Consumers: These are the application developers that access data and pay for queries.
How do Indexers identify data that is relevant and store it in a suitable format? Here is where the next participant comes in.
Curators Curators identify subgraphs that are important and of high quality by using their GRT tokens to signal to Indexers, who then proceed to index data and process queries. Curators also earn a portion of the query fees, which incentivizes them to curate data sources that are of high quality.
When you use GRT tokens to signal on a subgraph, you deposit GRT in return for Curation Shares minted on a Bonding Curve. The Bonding Curve defines the relationship between the price of Curation Shares and its supply. This means that each additional Curation Share costs more than the last one. Bonding Curves are volatile, and there is a possibility that you might receive less GRT than when you started.
If you falsely assess the quality of a subgraph and signal on a subgraph that may not receive many queries, you may risk earning very little or no query fees at all.
GRT Tokens
ETH for Gas Fees
A 2.5% Curation Fee charged by the protocol.
Purchase GRT Tokens on Uniswap or an exchange of your choice.
Head over to the Graph Explorer and choose a Subgraph that you’d like to Signal on. For this example, I will select the ENS Protocol Subgraph to walk you through the steps. Feel free to choose one that you find interesting!
Connect your Wallet by clicking on the top right. Once connected, click on the Signal button, and you’ll be greeted with this.
You can see the price per Curation Share denominated in GRT. The bonding curve calculates the price of each Curation Share. The number of Curation Shares in existence and their total value (in GRT) is also displayed. Enter the amount of GRT tokens you’d like to use to Signal and then approve them. This step requires you to spend ETH on gas fees. Upon Approval, you will see a Signal button.
Click on signal to deposit your GRT in return for Curation Shares. This step also requires you to spend ETH on gas fees.
The interface will now display your curation shares and their value (in GRT).
Congratulations on becoming a Curator on The Graph!
The Graph is a decentralized protocol for indexing and querying data from blockchains. If you are building an application that accesses data from the blockchain, it might take a long time to look through each block on the blockchain and extract relevant data. To solve this issue, you could build your own service to index data and store it in a conventional database. But this takes time and money.
Here’s where The Graph comes in. By allowing multiple types of network participants with specific roles, The Graph enables developers to build applications that can access blockchain data in a decentralized way without sacrificing performance. This
Let’s look at the participants in The Graph ecosystem. Indexers: They stake GRT tokens and operate a Graph Node to index relevant data and process queries. They earn Indexing Rewards and Query Fees. Indexers are incentivized to serve correct data as their staked tokens will be slashed if they act maliciously. Delegators: Delegators stake their GRT tokens on behalf of one or more Indexers. As a result, Delegators earn a portion of the Indexer rewards and Query fees without running their own Graph Node. Consumers: These are the application developers that access data and pay for queries.
How do Indexers identify data that is relevant and store it in a suitable format? Here is where the next participant comes in.
Curators Curators identify subgraphs that are important and of high quality by using their GRT tokens to signal to Indexers, who then proceed to index data and process queries. Curators also earn a portion of the query fees, which incentivizes them to curate data sources that are of high quality.
When you use GRT tokens to signal on a subgraph, you deposit GRT in return for Curation Shares minted on a Bonding Curve. The Bonding Curve defines the relationship between the price of Curation Shares and its supply. This means that each additional Curation Share costs more than the last one. Bonding Curves are volatile, and there is a possibility that you might receive less GRT than when you started.
If you falsely assess the quality of a subgraph and signal on a subgraph that may not receive many queries, you may risk earning very little or no query fees at all.
GRT Tokens
ETH for Gas Fees
A 2.5% Curation Fee charged by the protocol.
Purchase GRT Tokens on Uniswap or an exchange of your choice.
Head over to the Graph Explorer and choose a Subgraph that you’d like to Signal on. For this example, I will select the ENS Protocol Subgraph to walk you through the steps. Feel free to choose one that you find interesting!
Connect your Wallet by clicking on the top right. Once connected, click on the Signal button, and you’ll be greeted with this.
You can see the price per Curation Share denominated in GRT. The bonding curve calculates the price of each Curation Share. The number of Curation Shares in existence and their total value (in GRT) is also displayed. Enter the amount of GRT tokens you’d like to use to Signal and then approve them. This step requires you to spend ETH on gas fees. Upon Approval, you will see a Signal button.
Click on signal to deposit your GRT in return for Curation Shares. This step also requires you to spend ETH on gas fees.
The interface will now display your curation shares and their value (in GRT).
Congratulations on becoming a Curator on The Graph!
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