Covalent Adds Interoperability L1 Flare to Its Data Stack, Enhancing Web2 and Web3 Analytics Available to Developers
February 28, 2023
New York, NY, February 28, 2023 – Covalent, a Web3 data provider trusted by a community of 40,000+ developers and powering data for 5,000+ applications, announced today a partnership with data-focused Layer-1 blockchain Flare to enhance its existing blockchain analytics offerings. As dApp developers and other blockchain projects seek access to a broader, more diverse pool of data to inform operations and expand capabilities, the on-chain analytics available through Covalent will further increase the billions of standardized, digestible Web3 data points already visible through Covalent today.
Strengthening its position as a top aggregator of rich, granular, and diverse blockchain data, collaborating with Flare enables Covalent to further offer insightful data points for developers looking to build real-world applications, particularly those focused on Web2 and Web3 composability. Flare’s thoughtful design provides developers with decentralized access to high-integrity data from other chains and the internet. Flare provides developers with the data and the tech stack to build the next generation of interoperable dApps that will allow assets, information, and liquidity to flow freely between all chains. This interoperability expands beyond blockchains and will be compatible with Web2 APIs, creating additional access to off-chain event data.
“Our promise is to remain the richest blockchain data platform on the Internet, and we will achieve this by continuing our collaborations with new, promising ecosystems like Flare that offer a diverse array of relevant data points,” said Ganesh Swami, CEO of Covalent. “As a leader in the market, it is our responsibility to support the development of these rising ecosystems and help bring their value to life for Web3 builders and creators.”
This partnership takes place in just one month after Flare launched in January 2023. Alongside aggregating data from Flare’s mainnet and testnet, Covalent will also gather analytics from Flare’s canary network mainnet and testnet: Songbird. Songbird users maintain their own unique and rich ecosystem, with hyper-focused activity data now available via Covalent.
“Flare approaches the challenge of increasing the real-world utility of dApps through the secure provision of more types of decentralized data on-chain. We aim to provide a wide variety of time series data feeds, such as commodity prices, plus real-world events and outputs from Web2 APIs. We believe this is crucial in enabling builders to offer innovative use cases to users,” said Hugo Philion, CEO and co-founder of Flare. “Our shared philosophy is one of the key factors in our mutual decision to partner. , We are excited to integrate Flare’s interoperability protocols to Covalent’s Unified API and support the next phase of Web3 development.”
Covalent’s data collection process ensures latency for the most up-to-date information retrieval, tremendous breadth spanning 80+ blockchains and alternative sources (app-chains, L2s, etc), and impressive depth – ensuring all data is analyzed from the genesis block and beyond. Leveraging these findings to unlock the power of Web3 data and provide users with the highest-quality analytics remains in great demand by protocols, institutions, and dApp developers.
To learn more about Covalent visit covalenthq.com or follow @Covalent_HQ on Twitter.
About Flare Network
Flare is an EVM-based Layer 1 blockchain that gives developers decentralized access to high-integrity data from other chains and the internet. This enables new use cases and monetization models, while allowing apps to serve multiple chains through a single deployment.
Flare’s State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably, and trustlessly with smart contracts on Flare.
The Flare Time Series Oracle delivers highly-decentralized price and data feeds to dApps on Flare, without relying on centralized providers.
Build on Flare with more data than ever before or build with Flare to serve multiple ecosystems.
Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers and analysts use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from + blockchains. Covalent is trusted by a community of 40,000+ developers and powers data for 5,000+ applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski, and many others.