Delegators play a key role in maintaining the security and decentralization of The Graph Network. They participate in the network by delegating (i.e., “staking”) GRT tokens to one or multiple Indexers. Indexers are node operators that index and serve data through so called “subgraphs” (open APIs). By doing so, Indexers earn indexing rewards and query fees payed by data consumers like Uniswap. Without Delegators, Indexers are less likely to earn rewards and fees. Therefore, Indexers seek to attract Delegators by offering them a portion of the indexing rewards and query fees that they earn.
Delegators, in turn, select Indexers based on a number of different variables, such as past performance, indexing reward rates and query fee cuts but also reputation within the community.