Covalent Goes Community-led Closing $10 Million in the CoinList Public Sale | Covalent

Covalent Goes Community-led Closing $10 Million in the CoinList Public Sale

May 10, 2021

VANCOUVER, May 10th, 2021 - Covalent, an indexing/querying blockchain data provider, has closed $10 million in funding from a CoinList Public Sale. The new funding will bring the Covalent Query Token, CQT, to the public for the first time as Covalent continues to move toward a community-led project.

Over 3 years in the making, Covalent has come a long way. We’ve designed a world-class product that is mission-critical to over 150+ projects in the space, assembled a relentless team of crypto-natives to take the product to market globally and have now for the first time in Covalent’s history, the opportunity for the community to partake and contribute to our shared journey.

We’re grateful to the community for participating in large numbers in the public sale on CoinList. It is a big milestone for us to welcome an extended family of 14,000 token holders. Our goal with the sale was to extend the reach and make Covalent community-led.

Since our strategic funding round earlier this year, we have been heads down building – adding 3 new blockchains to our existing roster of 8 blockchains, hand-picking 1200 passionate individuals as Alchemists, running our flagship hackathons ‘One Million Wallets’ and ‘Dungeons and Data’, and launching the decentralized Covalent Network. We have been busy.

This is just the start. It’s still day 1 for the genesis team at Covalent and the broader ecosystem. We will continue the march towards bringing transparency and visibility to billions of blockchain data points with the unified Covalent API.

Summary of the Sale

  • Over 14,000 new token holders were added to the Covalent community, with $10M in CQT tokens purchased throughout the course of the sale
  • 3.5% of the CQT supply was dedicated to the CoinList public sale and was fully sold
  • The event drew record demand on CoinList, with almost 400,000 unique registrants. One of the options got sold out in less than 10 mins

The sale was not available in the United States, Canada, and other jurisdictions, and this announcement is not directed to anyone in those jurisdictions.

Quote from Graham Jenkin, CoinList CEO

Consumers of blockchain data want fast and easy access to data without the pain of dealing with individual blockchain data structure idiosyncrasies. The Covalent team gets this. We’re proud to help the Covalent team expand their community of CQT holders and incentivize validators to power their network.

Quote from Ganesh Swami, Covalent CEO

The overwhelming support from the community shows a growing understanding of the role that data analytics plays in powering the crypto, DeFi and NFT markets. We want to extend our gratitude to CoinList for making the public sale seamless.

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



Ganesh Swami

Co-founder, CEO, Covalent

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