August 2021 Community Update: Launching Stake in the City! | Covalent

August 2021 Community Update: Launching Stake in the City!

Sep 7, 2021

Summer may be coming to an end, but don’t worry, we’re on fire and we’ll keep you warm. 😉

Key Highlights

  • We reached over 1 million TVL in our Sushi Onsen pool! This double-sided staking allows LPs to earn double rewards in the form of $CQT and $SUSHI on top of the additional fees they earn from providing liquidity to our USDC/CQT pool which you can find here.

  • We officially launched the first Episode of Stake in the City! Stake in the City is an exclusive “learn & earn” program for our Alchemists to learn about staking, validating, and delegating in the Covalent network while earning NFTs! Single-sided staking is not yet live, so the goal of this initiative is to educate our loyal community members and get their feedback in preparation for the official launch later this year. On launch day we distributed over 1200 NFTs, and saw Alchemists from 56 countries show up to participate!

Community

We held our fifth community call where we talked more about the Stake in the City launch, updates to the API docs, our upcoming plans to attend MCON, and more! We were also joined by special guest Maarten Henskens from Astar Network. We recently received a grant to index the Astar Network through a public proposal that was passed on their builders forum which you can read more about below in “Partnership Announcements”.

Watch the full community call here:

Events

EthCC

Our Senior Engineer Pranay Valson spoke about how we are building a data layer for the multi-chain world, in a conversation with FranceCrypto during ETHCC!

Sushi AMA

We had a full house in the SushiSwap discord on August 12, with over 450 people showing up to listen and ask questions about Covalent and our feature on the Sushi Onsen Menu! While we discussed CQT and the roadmap ahead, many people were curious about our ELT data pipeline, how we’re unique in the market, and which chains we’re looking to index next! This was a great conversation where people came away with a better understanding of our mission and vision as a whole.

LM Masterclass

We held a liquidity mining masterclass webinar with Tom Chan from APY.vision! Ganesh Swami, Erik Ashdown, and Tom Chan spoke about why we chose the Sushi Onsen program, progress and challenges we’ve had with liquidity, upcoming plans with cross-chain LM, single-sided staking, and a walkthrough of APY.vision.

Watch the full video here!

MCON

From September 15th-17th members of the Covalent team will be attending MCON in Denver, Colorado, to learn about DAOs and better understand possible futures for the Alchemist program. We will be sponsoring the after party for the event and there may or may not be some announcements to look out for!

Check out MCON here!

Hackathons

Polygon Grants

We announced that we will be sponsoring the Polygon Grant Hackathon! We’re happy to be among some awesome industry leaders supporting this event and encouraging developers from across the world! There are suggested ideas, but this Hackathon is accepting projects of all sorts built on Polygon, with a prize pool of $100,000!

Read more and learn how to apply here.

Sovrython

We announced the winners of Sovrython, a $500,000 Gitcoin Hackathon that took place over 6 weeks. Developers from all chains were invited to collaborate on L2 solutions built on the RSK network for Bitcoin-native DeFi. Covalent, as a first-time sponsor for the Sovrython Hackathon, was pleased to present the winning submissions for $9,000 USD in bounties!

Read more here.

HackFS

We announced the Covalent bounty winners for HackFS -an ETHGlobal hackathon focused on building the foundation for that world. There were over 150 submissions and we were thrilled to see the creativity and talent on display!

Read more here.

Alchemist Program

The Alchemist Olympiad

The month of August was Summer Break for our Alchemists, but we still managed to get together for an epic and fun-filled competition: The Interplanetary Alchemist Olympiad!

Alchemists assembled to represent their regional communities and nominate teammates to test their skills in Haxball, Speed-Chess, Push-ups and Planks.

You can watch the closing ceremonies below, and check out the other festivities on our YouTube channel!

Partnership Announcements

Moonriver

We announced a collaboration and integration with Moonbeam, the Ethereum-compatible smart contract platform on Polkadot! The initial integration includes complete indexing of Moonriver, a parachain deployment on the Kusama network. This builds on an existing relationship that we have with the team at Moonbeam which will be the settlement layer for the Covalent network!

Read more here.

Crypto.com

CQT has officially been listed on Crypto.com! This listing allows Crypto.com App users to purchase CQT at true cost with USD, EUR, GBP and 20+ fiat currencies. With over 10 million users and 90+ supported countries, the CQT listing makes our native token more accessible to those who are interested in governance, staking, and network access in the future.

Astar Network

Covalent received a grant to provide indexing solutions on Dusty, Shiden Network, and Astar Network through the Astar builders program! This happened through a public vote on the Astar Network Forum after Covalent’s Erik Ashdown submitted a proposal that received support from the Astar Community. We’re excited about the transparency of collaborations like this, and we’re looking forward to a world where business development is community-owned.

Read the proposal here.

Getblock

Covalent announced a partnership with GetBlock, a service that provides instant API connection to full nodes from many leading blockchain platforms. This collaboration will optimize the developer experience, wherein projects using GetBlock’s node infrastructure can now enable multi-chain functionality with our REST API to expedite their go to market strategy, saving countless hours building data infrastructure. From our side this partnership adds strength to our ecosystem including the Covalent network.

Read more here.

CQT on Argent

CQT was officially listed on Argent, the only Ethereum wallet with multisig security and one tap DeFi!

UnoRe

We partnered with Uno Re, a team building towards being the world’s first decentralized reinsurance platform powered by Polkadot! This partnership will enable their users to track their crypto portfolios, token holdings, and purchase insurance cover across multiple chains.

Read more here.

The Dapp List

The Dapp List will curate Web3 adoption using Covalent! The mission to provide rich and reliable dapp analytics requires granular and historical data that we are happy to contribute.

Quote from Ganesh Swami, CEO of Covalent

The web3 ecosystem needs a platform like The Dapp List as they are solving a peculiar challenge around developer adoption. We’re excited to support The Dapp List with the Covalent API to bring visibility to Dapps in the space.

Read more here.

Technical Updates

Developers can check if a network is a Testnet or Mainnet using is_testnet on the Get all chains and Get all chain statuses endpoints. The is_testnet is a boolean response returning false when a network is not a Testnet and true for when a network is a Testnet.

We have added a new field to the returned data on the Balance_V2 endpoint quote_rate_24. The quote_rate_24 is the price of the token as of 24 hours ago. An example query on the Covalent Token CQT is here.

The Covalent XY=K endpoint provides data for large DEXs which are clones of the core Uniswap code base, such as QuickSwap and SushiSwap. Read more about the first release in the June Changelog. We have updated the endpoint to include 2 new DEXs: Moonlift and Empire DEX.

Read more on the API Changelog: https://www.covalenthq.com/docs/changelog

About Covalent

Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.

Twitter: @Covalent_HQ

Telegram: https://t.me/CovalentHQ

Discord: https://bit.ly/Covalenthq_discord

Leilani Ledingham

Communications, Covalent

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