Covalent: August 2022: Five new blockchain integrations, Nomad bridge hack update and Covalent on the road
Author

Indi Smith

Marketing, Covalent

August 2022: Five new blockchain integrations, Nomad bridge hack update and Covalent on the road

Sep 8, 2022

TL;DR:

  • The Nomad Hack Incident Response is live for Covalent’s CQT community, outlining our efforts and plan moving forward.
  • Covalent indexes Godwoken, Aurora, Evmos, Astar, and Cronos, enabling developers building with Covalent to now have access to billions of rows of on-chain data from over 42 different blockchains - the indexer with the most broad blockchain data coverage in Web3.
  • No bear market for builders! Read about the projects building with Covalent’s Unified API and their success stories.

1. Nomad Hack Incident Response

On August 1st, the Nomad bridge was exploited and over $190M in various assets were withdrawn to the Ethereum network. These assets included 113.55M (11.3%) of the total Covalent Network ($CQT) supply on the Ethereum network contributed from 255 unique wallet addresses. Despite the CQT setback, we’ve been open and transparent with the community and everything we’re doing moving forward, which you can read about in The Nomad Hack Incident: Covalent’s Response

2. Covalent Traction

Two years ago, Ethereum was the undisputed dominant player in the space. This quarter, using Covalent data, we’re seeing blockchain traction move from single-player mode to multi-player, as the new Alt 1 blockchains are facing off as contenders to the L1 blockchains.

2a. Covalent’s March to be the #1 Blockchain Indexer

Continuing on our relentless march of indexing the world’s blockchain information, Covalent announced its integration of Godwoken on the Nervos Network on August 10th, bringing our total to 42 blockchains (the biggest in the industry).

Also this summer, Covalent indexed the most amount of blockchains in one quarter since its inception. The Aurora, Evmos, Astar, and Cronos chains have all been successfully integrated.

3. Builder Spotlight

Our first builder spotlight goes to Omni (previously known as Steakwallet). Congratulations for raising $11M in their fundraising round!

Our second spotlight is for congratulating our partners Thirdweb, for raising a $24m round!

On August 11th, Harish Raisinghani, Head of Dev Rel at Covalent & Raza Zaidi, Head of Dev Rel at Thirdweb, held a joint workshop to display all the NFTs in your wallet.

4. Summer Highlights

What’s in store for blockchains? with CoinDCX

Ganesh Swami, CEO & Co-Founder at Covalent, moderated an exciting panel with the titans of the industry on the future of blockchain in Web3.

Korea Blockchain Week

Covalent had its first ever presence at South Korea’s biggest blockchain convention, IRL, where Ganesh Swami gave a talk on Data Economy Powered by Data Analytics

5. Notable Coverage

Covalent Roadshow

Covalent’s upcoming events are listed below, will we cross paths?

  • NearCon: September 11th to 13th, Lisbon, Portugal
  • Mainnet: September 21st to 23rd, New York City, USA
  • ETHSF: November 4th to 6th, San Francisco, USA
  • ETHIndia: December 2nd to 4th, Bengaluru, India

Thank you for all of your continued support! We look forward to sharing more exciting updates. You can join our mailing list for regular news or reach out to me directly.

Much love,
Ganesh Swami
Co-Founder and CEO, Covalent

About Covalent

Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 40+ blockchains. Covalent is trusted by a community of 30,000+ developers and powers data for 3000+ applications including 0x, Zerion, Rainbow Wallet, Rotki, Bitski and many others.

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