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Comparisons

Dune Analytics vs The Graph: Querying On-Chain Governance Data

A technical analysis for CTOs and protocol architects comparing Dune Analytics' end-user platform with The Graph's decentralized indexing protocol for accessing and analyzing on-chain governance data. We evaluate architecture, cost, flexibility, and decentralization to inform your infrastructure choice.
Chainscore © 2026
introduction
THE ANALYSIS

Introduction: The Core Infrastructure Choice for Governance Data

Choosing between Dune Analytics and The Graph for governance data is a foundational decision impacting real-time insights, cost, and developer experience.

Dune Analytics excels at ad-hoc exploration and dashboarding because of its SQL-based interface and vast community-contributed dataset. For example, analyzing Compound's COMP token delegation or Uniswap's proposal history can be done in minutes using pre-built dashboards, leveraging its 10,000+ public queries and direct integration with Ethereum, Polygon, and Solana. This makes it ideal for rapid prototyping and sharing insights with non-technical stakeholders.

The Graph takes a different approach by providing a decentralized, indexed API (subgraph). This results in a trade-off: developers must define the schema and mapping logic upfront, but gain a performant, production-ready GraphQL endpoint. A subgraph for Aave's governance can index specific events and entities, offering millisecond query speeds and reliability backed by Indexers staking GRT, but requires initial development investment.

The key trade-off: If your priority is speed-to-insight, collaborative analysis, and avoiding infrastructure management, choose Dune. If you prioritize custom data pipelines, sub-second API performance for an application, and decentralized infrastructure, choose The Graph. For governance data, Dune often wins for research and reporting, while The Graph is the backbone for dApps needing real-time, structured query access.

tldr-summary
DUNE ANALYTICS VS THE GRAPH

TL;DR: Key Differentiators at a Glance

A data-driven breakdown of strengths and trade-offs for querying on-chain governance data from DAOs like Uniswap, Aave, and Compound.

01

Dune Analytics: Speed & Flexibility

SQL-based exploration: Write custom queries against raw, decoded event logs. This matters for ad-hoc analysis of novel governance events, like tracking delegate changes in Uniswap or analyzing proposal sentiment. You're not limited to pre-defined schemas.

100K+
Public Dashboards
SQL
Query Language
02

Dune Analytics: Community & Discovery

Fork and build on 100,000+ public dashboards. This matters for rapid prototyping and benchmarking. Need a Compound proposal tracker? Find a similar one, fork it, and adapt. The shared knowledge base accelerates development significantly.

03

The Graph: Decentralized & Reliable

Indexed, subgraph-based queries. Data is processed and served via a decentralized network of Indexers. This matters for production applications that require guaranteed uptime and censorship resistance for features like live proposal status in a dApp frontend.

1,000+
Indexers
GRT
Network Token
04

The Graph: Structured Schema & Performance

GraphQL API with defined schemas. Subgraphs define the exact data shape (e.g., Proposal, Vote, Delegate). This matters for building scalable dApps where frontend engineers need predictable, fast queries without writing complex join logic.

05

Choose Dune Analytics for...

  • Research and due diligence on DAO voter behavior.
  • One-off reports and data journalism.
  • Exploratory analysis where the data schema is unknown or evolving.
  • Teams with strong SQL skills but less engineering bandwidth.
06

Choose The Graph for...

  • Embedding live governance data directly into your protocol's UI.
  • Mission-critical applications requiring decentralized infrastructure SLAs.
  • Repeated, complex queries that benefit from pre-indexing (e.g., historical voting power).
  • Projects with engineering resources to build and maintain a subgraph.
HEAD-TO-HEAD COMPARISON FOR GOVERNANCE DATA

Feature Matrix: Dune Analytics vs The Graph

Direct comparison of key metrics and features for querying on-chain governance data.

MetricDune AnalyticsThe Graph

Primary Data Model

SQL Queries on Raw Logs

GraphQL Subgraphs

Query Language

SQL (PostgreSQL)

GraphQL

Real-Time Data Indexing

Decentralized Network

Governance-Specific Dashboards

Avg. Query Cost for Complex Analysis

$0.00 (Self-Hosted)

$0.10 - $5.00 (GRT)

Protocols with Pre-Built Schemas

Uniswap, Compound, Aave

Uniswap, Compound, Aave

pros-cons-a
PROS AND CONS

Dune Analytics vs The Graph: Querying On-Chain Governance Data

A technical breakdown of strengths and trade-offs for analyzing governance proposals, voter behavior, and treasury activity.

01

Dune Analytics: SQL Flexibility

Direct SQL access to raw, decoded event logs. This allows for complex, multi-protocol joins (e.g., cross-referencing Aave voters with their Uniswap LP positions). Ideal for deep forensic analysis and custom dashboards tracking specific governance cohorts.

02

Dune Analytics: Community Dashboards

Massive public repository of 1M+ queries and dashboards. For governance, you can instantly fork and modify existing analyses for Compound, ENS, or Arbitrum DAO. Drastically reduces time-to-insight for common metrics like proposal turnout and voter sentiment.

03

The Graph: Real-Time Subgraphs

Subgraph indexing provides a GraphQL API with sub-second latency for pre-defined entities like Proposal, Vote, and Delegate. Critical for applications needing live governance data feeds, such as governance frontends or snapshotting tools.

04

The Graph: Decentralized Infrastructure

Network of Indexers ensures censorship-resistant, reliable data availability. Essential for protocols where governance data integrity is paramount and cannot rely on a single centralized query engine. Supports long-term data persistence guarantees.

05

Dune Analytics: Centralized Bottleneck

Single-point dependency on Dune's hosted engine and Spark SQL. Queries on large datasets (e.g., full Ethereum history) can hit performance limits. Not suitable for embedding low-latency data directly into a production dApp interface.

06

The Graph: Development Overhead

Requires subgraph development in AssemblyScript. Creating and maintaining a custom subgraph for a new governance module (e.g., OpenZeppelin Governor) adds significant engineering cost compared to writing a SQL query. Slower initial iteration.

pros-cons-b
DUNE ANALYTICS VS THE GRAPH

The Graph: Pros and Cons

Key strengths and trade-offs for querying on-chain governance data at a glance.

01

Dune Analytics: Speed & Flexibility

Real-time SQL queries: Query raw, indexed blockchain data directly with SQL. This matters for ad-hoc analysis and rapid prototyping of governance dashboards (e.g., tracking Uniswap proposal voting power in minutes). No subgraph deployment overhead.

02

Dune Analytics: Community & Discovery

Massive public repository: 500K+ saved queries and dashboards. This matters for benchmarking and due diligence, as you can instantly find and fork analyses for protocols like Aave or Compound without starting from scratch.

03

The Graph: Decentralized Reliability

Censorship-resistant indexing: Data is served by a decentralized network of Indexers, not a single entity. This matters for mission-critical dApps requiring guaranteed uptime and data integrity for governance modules, even if Dune's service is unavailable.

04

The Graph: Structured Data Schema

GraphQL with custom logic: Subgraphs allow you to define, transform, and link entities (e.g., Proposal, Vote, Delegate). This matters for building production applications that need efficient, structured access to complex governance relationships across contracts.

05

Dune Analytics: Cost & Complexity

Hidden abstraction costs: While free for public data, complex queries on large datasets (e.g., full historical Snapshot votes) can be slow. Vendor lock-in to Dune's schema and engine. Not ideal for low-latency, automated data feeds.

06

The Graph: Development Overhead

Subgraph deployment pipeline: Requires writing and maintaining a subgraph manifest (AssemblyScript). This matters for slower iteration cycles and adds engineering complexity compared to writing a one-off SQL query. Indexing lag can be 1-2 blocks.

CHOOSE YOUR PRIORITY

When to Use Dune vs The Graph: A Decision Framework

Dune for Analysts

Verdict: The definitive choice for ad-hoc exploration and dashboarding. Strengths: Unbeatable for rapid, iterative SQL queries on indexed raw data (e.g., ethereum.transactions, erc20_ethereum.evt_Transfer). Its community-driven dashboard model (e.g., tracking Uniswap proposal votes, Aave treasury flows) allows for instant replication and collaboration. No infrastructure to manage. Limitations: Dependent on Dune's abstraction schemas; complex multi-chain joins can be cumbersome.

The Graph for Analysts

Verdict: Powerful for building custom, production-grade data pipelines. Strengths: When you need a tailored subgraph for a novel governance contract (e.g., a DAO with a custom voting escrow), The Graph provides a dedicated, high-performance API. Ideal for creating a permanent, optimized data source for a specific protocol like Compound Governance or Lido on Polygon. Limitations: Requires subgraph development (GraphQL) and hosting decisions (hosted service or decentralized network).

DUNE ANALYTICS VS THE GRAPH

Technical Deep Dive: Data Models and Query Performance

Choosing the right tool for querying on-chain governance data involves trade-offs between raw SQL flexibility and indexed subgraph performance. This analysis breaks down the core architectural differences to inform your data pipeline decisions.

The Graph is typically faster for indexed, real-time queries on specific contracts. Its subgraphs pre-index event data into a GraphQL endpoint, enabling millisecond response times for queries like proposalVotes. Dune executes raw SQL on a replicated database, which can be slower for complex joins across large datasets, especially during high network activity on Ethereum mainnet. For real-time dashboards tracking live proposals in protocols like Uniswap or Compound, The Graph's indexed approach provides superior performance.

verdict
THE ANALYSIS

Verdict: Choosing Your Governance Data Stack

A data-driven breakdown of when to use Dune Analytics' curated dashboards versus The Graph's decentralized subgraphs for on-chain governance insights.

Dune Analytics excels at rapid, human-curated analysis and dashboarding because of its SQL-based interface and collaborative community. For example, a protocol architect can fork and adapt a popular dashboard like Compound's governance tracker in minutes, leveraging pre-built queries for voter turnout, proposal success rates, and delegate activity without writing a single line of indexing logic. Its strength is turning raw data into immediate, shareable narratives.

The Graph takes a different approach by enabling fully decentralized, protocol-owned data pipelines via subgraphs. This results in a trade-off of higher initial development overhead for guaranteed uptime and censorship resistance. A project like Uniswap runs its own subgraph, ensuring its front-end and governance portal have a reliable, performant data layer independent of any centralized service, though it requires engineering resources to build and maintain.

The key trade-off: If your priority is speed-to-insight, exploratory analysis, and leveraging community work, choose Dune. Its ecosystem of dashboards for Snapshot, Compound, and Aave provides an unparalleled starting point. If you prioritize decentralized infrastructure, custom data schemas, and embedding real-time governance data directly into your dApp, choose The Graph. Your engineering team will own the pipeline, but you must manage the subgraph deployment and indexing.

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