Step-by-Step Guide to Delegating The Graph Tokens

All owners of The Graph tokens can contribute to the project by delegating their tokens to indexers and thereby receiving a portion of the request fees and indexing rewards.

Delegation is done using Network Beta dApp and Metamask, and in this article I will show you how to do this with my own example.

First, we need to make sure that:

1)The browser has the latest version of the Metamask extension installed;
2) There is enough ETH in your wallet to cover transaction fees;
3) The Metamask extension is connected to the “Ethereum Mainnet”.

Adding GRT tokens to Metamask:

Token contract address: 0xc944e90c64b2c07662a292be6244bdf05cda44a7
Token symbol: GRT
Number of decimal places: 18

The process of Delegating GRT Tokens via Network Beta dApp:

After the balance of GRT tokens is displayed in the Metamask, follow the link in Network Beta dApp.

In the upper right corner, click on the “Connect Wallet” window, then select “Metamask” and connect to the wallet

If you did everything correctly, your account will be displayed in the upper-right corner. By clicking on it, you can see your GRT balance, you can also log out of your account or change it.

If you scroll down, you can see a list of all available indexers and various parameters related to delegation

When choosing an indexer, pay attention to the delegation parameters: “fee cut %” and “rewards cut %”- this is the percentage of discounts and rewards per request that the indexer retains when sharing with delegates.

Once you have selected an indexer, you must: 1) click on the icon next to the indexer, 2) click “ Delegate»

After that, a window will appear in which you need to enter: 1) the number of GRT tokens that you want to delegate; 2) Click “Submit Transaction” to continue the operation. next, a standard Metamask window will appear, in which you need to confirm the transaction 2 times. When the transaction passes, the GRT tokens will be delegated.

Please note that when delegating, a commission in GRT tokens is charged in the amount of 0.5% of the delegated amount. In my case, when delegating 1000 GRT, the final amount was 995 GRT.

It is also worth noting that if you cancel the delegation, the tokens remain blocked for another 28 days!

Another important point: you need to pay attention to the fact that indexers can change the size of delegate awards during the delegation process. Therefore, it is necessary to monitor your position from time to time.

In order to manage your delegation, you need to click the window with your wallet number in the upper-right corner. A section will appear where you can view an overview of the indexer to which you delegated tokens, and you can also cancel the delegation, or delegate a new portion of tokens.

As you can see, there is nothing complicated in the delegation process!

This article is written in the original Russian language together with its author

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