November 2022: Covalent Vision 2023 and Trailblazing New Web3 Frontiers with zkEVM roll up; Scroll. 🔥

December 8, 2022

TLDR:

  • Joined by over 1700 partners and members of our community, November 25th, 2022 marked Covalent’s first ever keynote livestream to finish off the year with a bang and give our entire community the roadmap of our future.
  • The Data Alchemist Bootcamp is booming, seeing a total of 125 successful students continuing on to the third module of the program and industry expertise provided by all-stars in the data game of Web3.
  • Covalent integrates blockchains Oasis and Boba Network in November in addition to Scroll, becoming the very first indexer in the space to index zkEVMS.
  • November was a huge month for hackathons, and with almost $100K in bounties up for grabs, Covalent makes sure our community knows that there’s no bear market for our builders.

Major Program Highlights

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Covalent Vision 2023

For the first time in Covalent’s history, Covalent held its genesis live stream end-of-year keynote on November 25th. This provided us the stage to present and interact directly with our community and key partners, sharing our goals for the future and aligning us all in our collective vision as we continue to grow on our way to be the number one indexer in Web3. Over 1700 audience members attended our live keynote, all across Twitter, Discord, YouTube, and Zoom.

  • Below is the master list of everything we unveiled, presented by some of our core team members:
  • Our plan to launch a Layer 1
  • Empowering our API users with our Premium API
  • RPC Node Partnerships
  • Fee Switch - token accrued value blurb.
  • Hack Payback
  • Inner Circle
  • Data Alchemists
  • Future products
  • Class C, Premium Dashboards, etc…

ICYMI, watch the recording here: Covalent Vision 2023 . {{< tweet user="Covalent_HQ" id="1596200498646126592" >}}

Data Alchemist Bootcamp Update

  • The Data Alchemist Bootcamp has been a huge hit. The first two modules of the program have now been completed, and the second module concluded with 125 successful submissions from students that will now be progressing into the third module.
  • We’re absolutely grateful to be joined by an all-star panel of guest speakers lending their industry knowledge to the students of the program. So far, these include:
  • Module 1: Danning, Lead Data Scientist at 0x Project.
  • Module 2: Glassman, Strategy and Analytics Lead at Layer Zero Labs.
  • Module 3: Konstantinos, Data Scientist from Polygon

{{< tweet user="gane5h" id="1595452825156603905" >}}

Project Submission Spotlight:

It makes us incredibly happy to be seeing the feedback we’re getting from the first cohort of Data Alchemists. Check out some of their testimonies below:

  • I have never been more excited and honoured to be a part of an opportunity like this one from one of my very favourite companies. I would give anything to complete this program and have a career in web 3 as a Data Alchemist!”
  • I think is definitely an innovative approach to blockchain data. The custom endpoints proposal sounds like music to me, I cannot wait for it to be available so I can use it in my projects. The RRR model is also a very effective way to look at how a project is performing, makes the analysis simpler and also helps you present data/findings in a more relevant way.”
  • Absolutely exciting, challenging and promising - all rolled in one experience. I feel special, and motivated.”

Blockchain Indexing

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Boba integration

On November 3rd, Covalent indexed Boba Network, an L2 scaling solution, on Avalanche, BNB Chain, Ethereum, and Moonbeam, offering lightning-fast transactions and fees up to 60x less than Ethereum. Developers building with the Covalent Unified API will now have access to billions of rows of cryptographically secure data from the Boba Network using our best in class endpoints.

Boba Indexing Announcement

“We’re excited about the partnership with Covalent. As the first & only multi-chain L2 with deployments on @avalancheavax, @BNBCHAIN, @ethereum, & @MoonbeamNetwork, it’s important to provide our community of devs access to tools like Covalent. ~ @alanchiu from @bobanetwork.

“Covalent acknowledges the key to the success of exchanges, trading firms & market makers is quick access to reliable data. By increasing visibility to trusted chains like Avalanche, Ethereum, Moonbeam, and BNB chain, the Boba Network is scaling for future growth” Ganesh Swami.

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Oasis Emerald integration

On November 3rd, Covalent indexed Boba Network, an L2 scaling solution, on Avalanche, BNB Chain, Ethereum, and Moonbeam, offering lightning-fast transactions and fees up to 60x less than Ethereum. Developers building with the Covalent Unified API will now have access to billions of rows of cryptographically secure data from the Boba Network using our best in class endpoints.

{{< tweet user="Covalent_HQ" id="1590427863588962304" >}}

“We’re thrilled to have established this partnership with Covalent. By empowering developers with these tools, this Covalent integration will help make Oasis a destination of choice.” ~ William Wendt, Ecosystem Growth Manager at Oasis Protocol.

“On behalf of the Covalent team, I couldn’t be more excited to welcome the Oasis Network as our partner. With this integration, we look forward to supporting the developers and the next wave of applications built in the Oasis ecosystem.” - Ganesh Swami.

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Covalent Partners With ZkEVM Solution, Scroll, As Ethereum Network Scales

Scroll is building a fully EVM-Equivalent general-purpose zk-Rollup built for the purpose of scaling the Ethereum network. This partnership makes Covalent the very first data indexer in Web3 to index zkEVM roll-ups. Our builders will be able to benefit from greatly increased efficiency for any data demands by “rolling-up” a huge number of data transactions into one block and moving computation and state-storage off-chain.

  • “Working with an innovator in the zkEVM space enables us to obtain and aggregate never before seen data from Ethereum rollups, which will uncover immense value for our API users and positively impact the Ethereum ecosystem overall.” - Ganesh Swami.

Macro

FTX

  • On November 11th, Covalent published a blog post to reassure everyone in our community, including our partners, that we have absolutely zero operational exposure to FTX/Alameda.
  • “Alameda Research was a private sale participant from Covalent’s Seed private sale with less than 0.18% of the CQT supply. Alameda Research was also one of our market makers as on June 2021, a relationship which we discontinued in June 2022. Any CQT related to the market maker relationship has been returned.”
  • Read the full blog post here: Covalent Has No Exposure To FTX

Nomad Hack Recovery Plan

  • On November 25th, Covalent was happy to announce the Covalent Recovery Plan, a solution that makes operators and all delegators of the Covalent Network who were affected by the Nomad Hack 100% whole.
  • “The Nomad Bridge hack was an unfortunate event of 2022, affecting a few hundred members of the Covalent Network operator and delegator community and 11.3% of the CQT supply. However, the Covalent Recovery Plan is the conclusion to this chapter as the community moves into 2023.”
  • Read the full blog post here: Nomad Hack Recovery Plan

Highlights

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Builder Zone

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Evmos x #OneMillionWallets Hackathon

Starting November 7th, Covalent was excited to partner with Evmos and Encode.club to deliver our biggest #OneMillionWallet hackathon to date with $90,000 USD in prizes! Two months ago, the Evmos community voted by over 97.5% to bring Covalent into the ecosystem through their integration proposal which included running the #OneMillionWallets hackathon.

The deadline closes on December 4th, and we’re looking forward to seeing all of the awesome prize submissions.

Encode x Harmony Hackathon

After four weeks, Covalent’s hackathon with our partners, Harmony Protocol, just concluded! We were excited to see all of the amazing projects being built with the Covalent Unified API on the Harmony blockchain, and handed out over $4K in bounties to the top winners!

{{< tweet user="encodeclub" id="1596161445041164290" >}}

Press Coverage

Covalent Roadshow

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Where we’ve been:

  • November 4th to 6th: ETH Global’s ETHSanFrancisco Hackathon {{< tweet user="Covalent_HQ" id="1587869940975284229" >}} {{< tweet user="ETHGlobal" id="1588687182239522818" >}}
  • Covalent India Meet up at Bangalore on November 30th {{< tweet user="thecoderpanda" id="1590051999609163776" >}}
  • December 2nd to 4th: We had our very last builder event of the year for Asia’s biggest Ethereum hackathon of the year, ETHIndia by ETHGlobal, at Bengaluru, India, December 2nd to 4th. With over 1500 builders in attendance, Covalent was pumped to be share our Covalent Unified API and be apart of the incredible energy in the hackathon.

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Looking Forward:

  • We have lots of exciting new partnerships and product launches on the horizon so stay tuned for our 2022 report for all of the alpha, including our highlights of the biggest moments from this year.

In Case You Missed It:

Thank you for all of your continued support! We look forward to sharing more exciting updates.

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