Via its official Twitter account, theklineventure announced that the Graph Network has gone from 168 main indexers to 192, a whopping 24 increments in just two weeks. The benefits of the MIP initiative are the distinguishing factor.
0.5% of Graph tokens have been set aside as compensation for indexers who help reset the network, and 0.2% has been set aside as migration incentives for subgraph creators who utilize multi-chain subgraphs.
The transfer of multi-chain subgraphs is made possible by the MIPs initiative, which bootstraps indexers to enable aid for other chains on the Oracle platform.
A significant development for the web3 ecology is the Graph Network’s expansion of multi-chain capability, and the encouraging MIPs initiative equips indexers to effectively index and execute requests in a multi-chain system.
In the future, new chains will be brought unto the network. So far, Gnosis happens to be the only one. The program will introduce others according to public opinion, requests, and indexer compliance.
Indexers active in the MIPs scheme will be given an option to pick the chains they want to assist and will also get rewards for each of them. Efficiency in the MIPs, competency to satisfy network requirements, and community support will all be taken into consideration when grading participants.
The MIP program is vital for promoting DApps. Decentralized access to blockchain data is essential to create a strong, safe, and trustworthy Web3; each DApp, irrespective of the chain it is based on, merits open and decentralized APIs.
This program has effectively incorporated itself into the achievement of Mission Control, the Graph’s incentivised testnet, that initiated the premier group of indexers to the platform by hastening network preparation and framework. With the benefits and the recent launch, the indexers will keep rising.