To estimate the query fees rewards, Curators need first to pick a random Curator on the subgraph they’d wish to signal on, and look at the Curator’s proportion of shares and estimated query fees rewards. This will give a rough estimation of query fees per proportion of shares. Then, Curators need to estimate the number of shares they will mint, divide it by the total number of shares (including the estimated minted shares), to get their proportion of shares, which they’ll use to estimate the query fees rewards.
Luckily, the Graph Explorer gives an estimate of the number of shares to be minted by depositing X GRT, giving Curators all the data they need to estimate the query fees rewards.
In case of a new subgraph, where there is still no query fees, Curators can’t use the Graph Network to estimate their query fees rewards. They should do some research on the subgraph to understand its utility and usage outside of the Graph Network.
With time, Curators could derive correlations between new subgraphs and old ones, which could be used to estimate the query fees.
If you’re curious and want to derive an estimation of the bonding curve, consider the general form y = mxn, pick 2 different subgraphs with different Price/Shares that have 0 query fees deposited into their bonding curve, because query fees deposited in Reserves changes the slope m as explained before, and try to estimate m and n. You can use the following system of equations: