Breaking News: A $48 Million Boost for The Guild!
The Graph Foundation has unveiled a hefty funding grant amounting to $48 million for open-source API platform The Guild. This major investment aims to enhance the usability and performance of subgraphs within the network. Who knew subgraphs could rack up such a bill?!
What’s the Deal with The Guild?
As a core network developer, The Guild isn’t just here to look pretty. They’re packing a punch with years of expertise from their time in the trenches, managing and evolving the components of the GraphQL ecosystem. For those who may be scratching their heads, GraphQL is a programming language birthed by Meta (formerly known as Facebook) back in 2012. So, let’s just say they’ve got some serious cred.
The Graph: A Game-Changer in Web 3.0
Since its inception in July 2018 and its mainnet launch in December 2020, The Graph has been revolutionizing how we index and query data in the Web 3.0 landscape. Its main objective? To empower developers to craft those coveted application programming interfaces (APIs) known as subgraphs, enabling a sleek deployment of Web3 services.
In addition to Ethereum, The Graph’s subgraph indexing service has become the backbone for a plethora of well-respected decentralized finance (DeFi) protocols, such as Uniswap, Arbitrum, and Avalanche. If you thought growing pains in Web 3.0 were inevitable, think again!
Funding Frenzy: How Grants Are Powering Progress
In the past year alone, The Graph Foundation has generously allocated $248 million to their core developer network. Recently, a whopping $60 million grant was awarded to Semiotic AI for fostering advances in cryptography and artificial intelligence. Talk about keeping the innovation train rolling!
Comments from the Top
Eva Beylin, the Director of The Graph Foundation, took a moment to share her thoughts on the collaboration with The Guild. She believes this partnership has the potential to reshape various sectors within the Web 3.0 ecosystem, including DeFi, the metaverse, and decentralized autonomous organizations (DAOs).
She states,
“The Guild will collaborate with developers in The Graph ecosystem throughout the course of this four-year funding to develop new subgraph features and improve The Graph Node’s querying capabilities, allowing developers to more quickly construct feature-rich apps using The Graph.”
So, buckle up, because the future of Web 3.0 just got a lot more exciting!
