The Graph通过GRT激励组织区块链索引与查询服务，形成去中心化数据经济。索引者质押GRT，委托者提供资本，策展者为有用的Subgraph发出信号；查询费和增发奖励服务，Proof of Indexing支持验证。可持续性取决于付费查询能否覆盖运营成本并降低增发依赖，网关依赖、提供者集中与Horizon迁移仍是风险。
Investment View
GRT激励奖励真实索引工作。需验证付费查询收入能否逐步覆盖运营成本，减少对增发奖励的依赖。
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Report Type
Crypto Economy Analysis
Version
v1
Analysis Date
2026年6月19日
Language
zh
Disclaimer: This report is generated through AI-powered analysis and market data. This is not investment advice. All investment decisions should be made at your own risk.