Despite all the progress we’ve made in crypto tooling the last couple of years, one difficult task remains unsolved: extracting data from blockchains. Blockchain data is messy, disorganized and time-consuming even for an experienced engineer. Today, we are excited to announce a software development kit (SDK) to query data from the Ethereum blockchain – a problem we’ve been trying to solve for many years. We’ve been dogfooding the SDK internally for the last few months and used it to instrument over 20 DeFi protocols supporting over a dozen customers and thousands of users.
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.
As a first-time sponsor at ETHGlobal’s HackMoney, which is the world’s largest DeFi hackathon, we were blown away by the innovation and creativity of all the DeFi projects! Congrats to a record participation by 1100 hackers from over 75 countries and 231 projects submitted. We had several fantastic submissions using the Covalent unified API to bring transparency and visibility to assets across all blockchain networks. The Covalent API is ideal for hackathons because it is simply the fastest way for teams to access granular and historical on-chain data without code, unlocking One Billion possibilities.
TL;DR: Our most recent Twitter Spaces featured 4 exemplary DAO founders who were gratuitous to share their thinking behind DAO infrastructure. We had Dennison Bertram from Tally, Cooper Turley from Audius, Eyal Eithcowich from DeepDAO, Shreyas Hariharan from Llama with Pratik Gandhi from Covalent moderating. We discussed a wide range of topics from the core ideas that make DAOs tick, to the current state of infrastructure, gaps/opportunities to builders, treasury management best practices to governance/legal frameworks.
This session was by far our most attended Twitter Spaces session we’ve had with over 200 members listening in at its peak.
‘DAO’ stands for Decentralized Autonomous Organizations: think of internet-native communities with a built-in governance framework tied in an executable code. The members of a DAO go after a shared set of goals to use web 3 native tools to make decisions open, transparent, and efficient.