The protocol infrastructure company will provide The Graph with resources, technology and developer talent as the core protocol developer
Protocol infrastructure firm StreamingFast has received a $ 60 million grant from The Graph Foundation and will join The Graph as a core protocol developer, according to a blog post published yesterday.
The graph is an indexing protocol that enables developers to create open APIs, called subgraphs, that applications can query. The network is overseen by The Graph Foundation, who coordinates the governance process and distributes ecosystem funding, though StreamingFast’s $ 60 million grant is the first of its kind.
Launched three years ago and led by investors like WhiteStar Capital and Multicoin Capital, StreamingFast originally aimed to create a SaaS business serving blockchain developers, but now blockchain data through its scalable platform for a range of High-throughput blockchains such as Ethereum, Binance processed intelligent chain and Polkadot.
The Graph will now benefit from the resources, technology, and developer talent of StreamingFast as the protocol infrastructure company works with Indexers, Edge & Node, and the The Graph community on a range of protocol developments.
StreamingFast CEO and Co-Founder Marc-Antoine Ross stated: “We are philosophical and our combined forces create a one-plus-one-equal-three effect. We strive to devote our time and resources in the years to come improving The Graph and the Web3 ecosystem as a whole.”
StreamingFast will receive the grant in installments over the next five years and make its proprietary IP open source for use by The Graph community. In addition to developing core protocols, the company will work on developing subgraphs, improving indexing services and performance, support for Web3 development tools, GRPs and GRCs standards, and multi-blockchain expansion.
Ross added: “Our core IP indexes data orders of magnitude faster, solves the “Binance Smart Chain Pancake Problem” and enables developers to create real-time blockchain applications, dashboards and explorers – even on ultra-fast networks like Solana. We hope it will help Subgraph and Dapp developers build more powerful real-time applications. “
The collaboration between The Graph and StreamingFast could help accelerate the goals of both projects of democratizing access to Web3 data and building a more open Internet.