Update tokenomics

README.md

@@ -8,7 +8,7 @@ Please read [`CONTRIBUTING.md`](https://github.com/graphprotocol/docs/blob/main/
 
 ## Local Setup
 
-This project is built on [Next.js](https://nextjs.org/). You can run it on your machine, provided you have [Node 16+](https://nodejs.org/en/) and [`pnpm`](https://pnpm.io) installed.
+This project is built on [Next.js](https://nextjs.org/). You can run it on your machine, provided you have [Node 20+](https://nodejs.org/en/) and [`pnpm`](https://pnpm.io) installed.
 
 First, clone the repo:
 

website/pages/en/glossary.mdx

@@ -20,7 +20,7 @@ title: Glossary
 
   2. **Indexing Rewards**: The rewards that Indexers receive for indexing subgraphs. Indexing rewards are generated via new issuance of 3% GRT annually.
 
-- **Indexer's Self Stake**: The amount of GRT that Indexers stake to participate in the decentralized network. The minimum is 100,000 GRT, and there is no upper limit.
+- **Indexer's Self-Stake**: The amount of GRT that Indexers stake to participate in the decentralized network. The minimum is 100,000 GRT, and there is no upper limit.
 
 - **Upgrade Indexer**: An Indexer designed to act as a fallback for subgraph queries not serviced by other Indexers on the network. The upgrade Indexer is not competitive with other Indexers.
 
@@ -52,7 +52,7 @@ title: Glossary
 
 - **Arbitrators**: Arbitrators are network participants appointed through a governance process. The role of the Arbitrator is to decide the outcome of indexing and query disputes. Their goal is to maximize the utility and reliability of The Graph Network.
 
-- **Slashing**: Indexers can have their self-staked GRT slashed for providing an incorrect POI or for serving inaccurate data. The slashing percentage is a protocol parameter currently set to 2.5% of an Indexer's self stake. 50% of the slashed GRT goes to the Fisherman that disputed the inaccurate data or incorrect POI. The other 50% is burned.
+- **Slashing**: Indexers can have their self-staked GRT slashed for providing an incorrect POI or for serving inaccurate data. The slashing percentage is a protocol parameter currently set to 2.5% of an Indexer's self-stake. 50% of the slashed GRT goes to the Fisherman that disputed the inaccurate data or incorrect POI. The other 50% is burned.
 
 - **Indexing Rewards**: The rewards that Indexers receive for indexing subgraphs. Indexing rewards are distributed in GRT.
 
@@ -74,7 +74,7 @@ title: Glossary
 
 - **Cooldown Period**: The time remaining until an Indexer who changed their delegation parameters can do so again.
 
-- **L2 Transfer Tools**: Smart contracts and UI that enable network participants to transfer network related assets from Ethereum mainnet to Arbitrum One. Network participants can transfer delegated GRT, subgraphs, curation shares, and Indexer's self stake.
+- **L2 Transfer Tools**: Smart contracts and UI that enable network participants to transfer network related assets from Ethereum mainnet to Arbitrum One. Network participants can transfer delegated GRT, subgraphs, curation shares, and Indexer's self-stake.
 
 - **Updating a subgraph**: The process of releasing a new subgraph version with updates to the subgraph's manifest, schema, or mappings.
 

website/pages/en/tokenomics.mdx

@@ -1,6 +1,6 @@
 ---
 title: Tokenomics of The Graph Network
-description: The Graph Network is incentivized by powerful tokenomics. Here’s how GRT, The Graph’s native work utility token works.
+description: The Graph Network is incentivized by powerful tokenomics. Here’s how GRT, The Graph’s native work utility token, works.
 ---
 
 - GRT Token Address on Mainnet: [0xc944e90c64b2c07662a292be6244bdf05cda44a7](https://etherscan.io/token/0xc944e90c64b2c07662a292be6244bdf05cda44a7)
@@ -35,19 +35,19 @@ Fishermen and Arbitrators are also integral to the network’s success through o
 
 ## Delegators (Passively earn GRT)
 
-Indexers are delegated GRT by Delegators increasing the Indexer’s stake in subgraphs on the network. In return, Delegators earn a percentage of all query fees and indexing rewards from the Indexer. Each Indexer sets the cut that will be rewarded to Delegators independently, creating competition among Indexers to attract Delegators. Most Indexers offer between 9-12% annually.
+Indexers are delegated GRT by Delegators, increasing the Indexer’s stake in subgraphs on the network. In return, Delegators earn a percentage of all query fees and indexing rewards from the Indexer. Each Indexer sets the cut that will be rewarded to Delegators independently, creating competition among Indexers to attract Delegators. Most Indexers offer between 9-12% annually.
 
-For example, if a Delegator were to delegate 15k GRT to an Indexer offering 10%, the Delegator would receive ~1500 GRT in rewards annually.
+For example, if a Delegator were to delegate 15k GRT to an Indexer offering 10%, the Delegator would receive ~1,500 GRT in rewards annually.
 
 There is a 0.5% delegation tax which is burned whenever a Delegator delegates GRT on the network. If a Delegator chooses to withdraw their delegated GRT, the Delegator must wait for the 28-epoch unbonding period. Each epoch is 6,646 blocks, which means 28 epochs ends up being approximately 26 days.
 
 If you're reading this, you're capable of becoming a Delegator right now by heading to the [network participants page](https://thegraph.com/explorer/participants/indexers), and delegating GRT to an Indexer of your choice.
 
 ## Curators (Earn GRT)
 
-Curators identify high-quality subgraphs, and "curate" them (i.e., signal GRT on them) to earn curation shares, which guarantee a percentage of all future query fees generated by the subgraph. While any independent network participant can be a Curator, typically subgraph developers are among the first Curators for their own subgraphs because they want to ensure their subgraph is indexed.
+Curators identify high-quality subgraphs and "curate" them (i.e., signal GRT on them) to earn curation shares, which guarantee a percentage of all future query fees generated by the subgraph. While any independent network participant can be a Curator, typically subgraph developers are among the first Curators for their own subgraphs because they want to ensure their subgraph is indexed.
 
-As of April 11th, 2024, subgraph developers are encouraged to curate their subgraph with at least 3,000 GRT. However, this number may be impacted by network activity and community participation.
+Subgraph developers are encouraged to curate their subgraph with at least 3,000 GRT. However, this number may be impacted by network activity and community participation.
 
 Curators pay a 1% curation tax when they curate a new subgraph. This curation tax is burned, decreasing the supply of GRT.
 
@@ -75,25 +75,17 @@ Indexers are the backbone of The Graph. They operate independent hardware and so
 
 Indexers can earn GRT rewards in two ways:
 
-1.  Query fees: GRT paid by developers or users for subgraph data queries. Query fees are directly distributed to Indexers according to the exponential rebate function (see GIP [here](https://forum.thegraph.com/t/gip-0051-exponential-query-fee-rebates-for-indexers/4162)).
+1.  **Query fees**: GRT paid by developers or users for subgraph data queries. Query fees are directly distributed to Indexers according to the exponential rebate function (see GIP [here](https://forum.thegraph.com/t/gip-0051-exponential-query-fee-rebates-for-indexers/4162)).
 
-2.  Indexing rewards: the 3% annual issuance is distributed to Indexers based on the number of subgraphs they are indexing. These rewards incentivize Indexers to index subgraphs, occasionally before the query fees begin, to accrue and submit Proofs of Indexing (POIs) verifying that they have indexed data accurately.
+2.  **Indexing rewards**: the 3% annual issuance is distributed to Indexers based on the number of subgraphs they are indexing. These rewards incentivize Indexers to index subgraphs, occasionally before the query fees begin, to accrue and submit Proofs of Indexing (POIs), verifying that they have indexed data accurately.
 
 Each subgraph is allotted a portion of the total network token issuance, based on the amount of the subgraph’s curation signal. That amount is then rewarded to Indexers based on their allocated stake on the subgraph.
 
-In order to run an indexing node, Indexers must stake 100,000 GRT or more with the network. Indexers are incentivized to stake GRT in proportion to the amount of queries they serve.
+In order to run an indexing node, Indexers must self-stake 100,000 GRT or more with the network. Indexers are incentivized to self-stake GRT in proportion to the amount of queries they serve.
 
-Indexers can increase their GRT allocations on subgraphs by accepting GRT delegation from Delegators, and they can accept up to 16 times their initial stake. If an Indexer becomes "over-delegated" (i.e., more than 16 times their initial stake), they will not be able to use the additional GRT from Delegators until they increase their stake in the network.
+Indexers can increase their GRT allocations on subgraphs by accepting GRT delegation from Delegators, and they can accept up to 16 times their initial self-stake. If an Indexer becomes "over-delegated" (i.e., more than 16 times their initial self-stake), they will not be able to use the additional GRT from Delegators until they increase their self-stake in the network.
 
-The amount of rewards an Indexer receives can vary based on the initial stake, accepted delegation, quality of service, and many more factors. The following chart is publicly available data from an active Indexer on The Graph's decentralized network.
-
-### The Indexer stake & reward of allnodes-com.eth
-
-![Indexing stake and rewards](/img/indexing-stake-and-income.png)
-
-This data is from February 2021 to September 2022.
-
-> Please note, this will improve when the [Arbitrum migration](https://forum.thegraph.com/t/gip-0037-the-graph-arbitrum-deployment-with-linear-rewards-minted-in-l2/3551) is complete, making gas costs a significantly lower burden for participating on the network.
+The amount of rewards an Indexer receives can vary based on the Indexer's self-stake, accepted delegation, quality of service, and many more factors.
 
 ## Token Supply: Burning & Issuance