Covalent Q2 2025: Built for Speed, Structured to Scale
By the Numbers
In Q2 alone, Covalent processed over 471M API calls, bringing our cumulative total to over 17 billion across 100+ supported blockchains. Over 95% of these calls are paid and revenue generating.
From powering institutional dashboards to the next generation of AI agents, Covalent continues to provide the most reliable, structured, and verifiable onchain data infrastructure in the space.
Network Economics
CXT Buyback
Covalent crossed a major milestone with over 5 million CXT bought back via the protocol. These buybacks are fueled by actual usage of the GoldRush API, meaning every query contributes to value returning to the network.
It’s a direct reflection of rising query volume, developer adoption, and a sustainable flywheel between data consumption and token economics.
Track the numbers → CXT Buybacks on Dune
300M CXT Staked
As of Q2, over 300 million CXT has been staked by validators and delegators, representing 33.6% of the circulating supply––helping secure the Covalent Network and powering data verifiability across 100+ chains.
This reflects growing trust in the network’s long-term role in powering onchain infrastructure and access to historical and verifiable data.
Product Launches
The Sub-Second Data Co-Processor
In June, Covalent launched its Sub-Second Data Co-Processor, a breakthrough system that delivers labeled, structured, and verifiable blockchain data in under a second.
It is designed for anything that relies on fast-moving data including bots, dashboards, trading tools, or real-time alerts.
Why it matters:
Block times are getting faster. Base and others now finalize blocks in under 500ms. But most indexers, RPCs, and explorers still deliver data on a 3–10 second delay. This gap is what we call the latency crisis.
The Co-Processor solves this by streaming structured, contextual data in real time so builders can react instantly without polling, cache delays, or stale data.
Read the blog here.
Feel the Speed with Speedrun the Chain 🏎️💨
To showcase the speed of the Sub-Second Data Co-Processor, we built Speedrun the Chain. It is a live, onchain racing game on Base that puts real-time data infrastructure to the test.
Since launch, the game has recorded over 45,000 onchain transactions, offering a fun but powerful demonstration of how fast apps can get when chains and data infra operate at the same speed.
Try the game out for yourself → speedrun.covalenthq.com
Check out our video demo here on how it works.
Model Context Protocol (MCP)
In Q2, we also launched the industry’s first MCP server for blockchain data, now live through the GoldRush API. Originally pioneered by Anthropic, MCP lets AI models fetch real-time external data without retraining.
Covalent’s implementation extends this to blockchain, giving AI agents and apps direct, verifiable access to onchain data. Here are the highlights:
Real-time blockchain data for AI models
Fully open-source and developer-friendly
Built for AI-native and modular workloads
Read more → MCP Server announcement
New Chains
Lens Protocol Mainnet
Covalent now supports Lens Chain mainnet, the new L2 built by Avara (Aave team) for decentralized social apps. Builders can now access structured, real-time data from Lens via GoldRush, unlocking faster development and richer SocialFi experiences.
Industry: Pectra Upgrade
On May 7, Ethereum shipped Pectra, a major upgrade that expanded blob capacity, improved validator performance, and introduced new smart contract features.
These changes mark a shift toward a more modular and data-rich Ethereum, and with GoldRush, developers and researchers can now track the real-time effects of Pectra onchain. From blob usage and calldata trends to validator activity, GoldRush turns protocol-level changes into structured, usable data.
Read the analysis → Understanding Pectra
Features
Delphi Digital: Covalent: On-chain Data Meets Agency
Delphi Digital published an in-depth report on Covalent, highlighting its role in enabling structured, verifiable data access for AI agents and multi-agent systems.
Key takeaways:
Covalent provides structured, verifiable data pipelines for AI agents and multi-agent systems
The Model Context Protocol (MCP) powers shared memory and context across agent workflows
Lays the foundation for ZEEs (Zero-Employee Enterprises), which are autonomous agents with chain-of-thought reasoning, shared memory, and structured onchain data access.
Read the deep dive → Delphi Report
GoldRush Update
Launch of the Streaming API
Now in public beta, the GoldRush Streaming API delivers sub-second updates on blockchain events like token balances, new Uniswap pairs, wallet activity, and OHLCV price data.
Built on top of Covalent’s Ultra-Fast Data Co-Processor, it offers clean, structured streams of onchain data in real time. It’s a great fit for apps that need live onchain context, like trading bots, games, or AI agents. Developers can use GraphQL to filter by chain, DEX, or data type and start streaming with just a few lines of code.
Check out our demo walkthrough video here.
Explore the docs here.
New Customers
More projects are choosing Covalent’s GoldRush’s API for fast, structured blockchain data. Here are several notable teams that signed up in Q2:
The leading Ethereum scaling protocol is leveraging GoldRush to support ecosystem-wide analytics and monitoring across its growing network of L2s and appchains.
One of the top centralized exchanges by volume, MEXC is using GoldRush to improve token-level analytics and real-time monitoring across supported chains.
Bubblemaps
The popular blockchain data visualization platform is integrating GoldRush to enhance data resolution and expand cross-chain coverage for its users.
Temple Wallet
As the go-to wallet for the Tezos ecosystem, Temple is utilizing GoldRush to offer deeper token and wallet-level insights, making cross-chain interactions more transparent.
Symphony
A DeFi data and insights platform, Symphony is tapping into GoldRush to support multi-chain data ingestion for institutional-grade dashboards and user tooling.
More GoldRush Updates
This quarter, we rolled out backend and documentation upgrades to streamline the developer experience:
The Cross Chain Address Activity API was optimized for faster, more reliable responses, reducing timeouts by improving how queries crawl across multiple chains in a single call. Check it out here.
The GoldRush docs got a major refresh, featuring walkthroughs for the Streaming API, a GraphQL playground, and new chain-specific support pages. For more details on GoldRush product support visit here.
From building for ultra-fast steaming to long-term data availability, Covalent makes onchain data accessible, verifiable, and fast. Ready for whatever you’re building next.
Catch the latest here:
Thank you for being a part of this exciting quarter with us! A lot more to come in the upcoming months. Stay tuned.
