Graph Foundation Awards $ 60 Million in Funding

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The protocol infrastructure company will provide The Graph with resources, technology and developer talent as a core protocol developer

Protocol infrastructure company 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 allows developers to create open APIs, called subgraphs, that can be queried by applications. The network is overseen by The Graph Foundation, which coordinates the governance process and distributes ecosystem funding, with StreamingFast’s $ 60 million grant being the first of its kind.

StreamingFast was founded three years ago and, led by investors such as WhiteStar Capital and Multicoin Capital, wanted to build a SaaS business for blockchain developers. Now it processes blockchain data through its scalable platform for various high-throughput blockchains, which include Ethereum, Binance Smart Chain, and Polkadot, among others.

The Graph will now benefit from StreamingFast’s resources, technology, and developer talent as the protocol infrastructure company works with indexers, Edge & Node, and the Graph community on a number of protocol developments.

Marc-Antoine Ross, CEO and Co-founder of StreamingFast, said: “We are philosophically on the same line and our forces unite with a one-plus-one-equal-three effect. We look forward to dedicating our time and resources to improving The Graph and the Web3 ecosystem in general in the coming years.“

StreamingFast will receive the grant in installments over the next five years and will make its proprietary IP available to the Graph community as open source. In addition to developing the core protocol, the company will work on developing subgraphs, improving indexing services and performance, supporting Web3 development tools, GRPs and GRCs standards, and expanding the multi-blockchain.

Our core IP indexes large amounts of data 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“, Ross continues.

The collaboration between The Graph and StreamingFast could help accelerate the goals of both projects, democratize access to Web3 data and create a more open Internet.