The Graph vs Flipside Crypto
Hyperliquid ecosystem comparison · Data APIs
Best for ResearchQuick Take
The Graph Decentralized indexing protocol for building GraphQL APIs from HyperEVM smart contracts on Multi-Layer, while Flipside Crypto Community analytics platform with SQL access and bounties for Hyperliquid data on Multi-Layer. Both are data apis protocols on Multi-Layer, making them direct competitors in the Hyperliquid ecosystem.
Based on public data for The Graph and Flipside Crypto. Key differentiators: layer deployment, fee structure, liquidity depth, and community adoption. Last reviewed: Mar 2026.
The Graph
Multi-LayerDecentralized indexing protocol for building GraphQL APIs from HyperEVM smart contracts
thegraph.com
Flipside Crypto
Multi-LayerCommunity analytics platform with SQL access and bounties for Hyperliquid data
flipsidecrypto.xyzOverview
The Graph
The Graph is the decentralized indexing protocol for blockchain data, enabling HyperEVM developers to build and deploy Subgraphs—open APIs that index, transform, and serve on-chain data via GraphQL. Rather than building custom indexing infrastructure, HyperEVM protocol teams can define their data schema and indexing logic in a Subgraph manifest, and The Graph's decentralized network of Indexers handles the computation and data serving. This dramatically accelerates frontend development for Hyperliquid DeFi dApps that need historical and real-time on-chain data without running centralized backend infrastructure. Subgraph data is trustless and cryptographically verifiable, making it appropriate for decentralized applications that want to maintain censorship-resistance. The Graph's GRT token incentivizes high-quality, reliable data indexing, ensuring HyperEVM Subgraphs remain continuously available and accurate for users and developers building on Hyperliquid's smart contract ecosystem.
Visit websiteFlipside Crypto
Flipside Crypto is a blockchain analytics platform that provides free SQL access to decoded on-chain data for Hyperliquid and 30+ other blockchain networks, with a unique reward system that pays analysts for high-quality research. Flipside's curated data models decode Hyperliquid's complex L1 events—including perp trades, vault interactions, and spot market activity—into analyst-friendly tables, enabling data scientists without blockchain expertise to derive insights. Its Bounty system allows Hyperliquid ecosystem protocols to sponsor research questions and reward community analysts for answering them, creating a crowdsourced analytics workforce. LiveQuery features enable real-time data access for dashboard applications, while API endpoints allow developers to integrate Hyperliquid analytics directly into their applications. Flipside has cultivated one of the largest communities of on-chain data analysts, many of whom have developed deep Hyperliquid expertise through participation in protocol-sponsored bounty programs.
Visit websiteFeature Comparison
| Feature | ||
|---|---|---|
| Layer | Multi-Layer | Multi-Layer |
| Category | Data APIs | Data APIs |
| Status | Active | Active |
| Launch Year | — | — |
| Website | thegraph.com | flipsidecrypto.xyz |
| — | — | |
| GitHub | Not public | Not public |
| Verified | Unverified | Unverified |
| Tags | — | — |
Score Comparison
Feature Matrix
| Feature | ||
|---|---|---|
| Open Source | ✗ | ✗ |
| Verified | ✗ | ✗ |
| Has Website | ✓ | ✓ |
| Has Twitter | ✗ | ✗ |
| Has GitHub | ✗ | ✗ |
| Active Status | ✓ | ✓ |
Key Differences
Similar Profiles
Both The Graph and Flipside Crypto are data apis protocols on Multi-Layer. The key differentiators will be in their specific implementations, UX, liquidity depth, and community traction.
When to Use Each
Choose The Graph if you...
- ✓Want a data apis solution on Multi-Layer
- ✓Need: Decentralized indexing protocol for building GraphQL APIs from HyperEVM smart contracts
Choose Flipside Crypto if you...
- ✓Want a data apis solution on Multi-Layer
- ✓Need: Community analytics platform with SQL access and bounties for Hyperliquid data
Ecosystem Integration
The Graph
The Graph operates on Multi-Layer (spans multiple hyperliquid layers). Spanning multiple layers lets it combine the strengths of each, though integration complexity is higher.
Flipside Crypto
Flipside Crypto operates on Multi-Layer (spans multiple hyperliquid layers). Spanning multiple layers lets it combine the strengths of each, though integration complexity is higher.
Both protocols share the same layer, maximizing composability potential.
Community Verdict
Which do you prefer?
Share your experience with The Graph or Flipside Crypto to help others in the Hyperliquid community make better decisions.
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