🚀 Covalent Receives $200,000 Grant from Optimism Collective 🎉

Covalent (CQT), the essential 'data availability' layer for Web3 ecosystems, proudly announces the culmination of a multi-year collaboration with the

Covalent has been granted $200,000 by Optimism Collective for long-term support.

Covalent (CQT), the key ‘data availability’ layer of Web3 ecosystems, has proudly announced the culmination of a multi-year collaboration with the Optimism Collective. 🤝 Covalent’s significant contributions to the Optimism ecosystem have been recognized with a remarkable milestone – a USD $200,000 grant from the Optimism Collective. 💰

Recognizing Covalent’s Impact 🌟

The grant awarded to Covalent, distributed in approximately 50,000 Optimism (OP) tokens, symbolizes the acknowledgment of Covalent’s substantial contributions to the Optimism ecosystem. Among the 501 recognized projects and individuals, Covalent has played a pivotal role in the positive growth and impact of the Optimism Collective over the past two years. 🙌

Covalent stands out in the Web3 landscape as the leader for data availability, with substantial month-over-month growth, enriching over +240 million wallets. 📈 With its comprehensive application data provisioning, Covalent has become an essential player in the Web3 ecosystem.

The Retroactive Public Goods Funding (RetroPGF) Experiment 💡

The grant from Optimism comes as part of the Retroactive Public Goods Funding (RetroPGF), the largest public goods funding experiment in the crypto space. This experiment aims to reward contributors across four essential categories: OP Stack, Collective Governance, Developer Ecosystem, and End User Experience and Adoption. Covalent’s efforts have clearly made a significant impact in one of these categories. 👏

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According to Ganesh Swami, Co-Founder and CEO at Covalent, “We are deeply humbled and extremely grateful to be a recipient of the RetroPGF Round 3. This acknowledgement only fuels our excitement for the ongoing collaboration with Optimism. Together, we are committed to furthering our collaboration and fostering an open-source ecosystem fueled by public goods.” 🙏

Covalent: Empowering OP Stack Developers and Analysts 👩‍💻

Covalent addresses the challenges faced by OP Stack developers and analysts by offering seamless access to real-time data, effectively streamlining cross-chain development. By eliminating the complexities associated with building chain indexers, data stacks, and dApps, Covalent liberates developers’ time with access to a unified, singular API. This allows them to concentrate on their core activities. In return, Optimism gains streamlined access to Covalent’s comprehensive structured data, data availability, and multi-chain infrastructure, fostering growth and user adoption within the Optimism Collective. 🏗️

Covalent: Benefits for the Optimism Ecosystem 🌐

The Covalent unified API empowers users to effortlessly extract billions of on-chain data points for diverse applications and comprehensive research. Since November 2021, Covalent has been serving as a key data infrastructure provider for Optimism. It indexes OP mainnet, OP Sepolia, OP Goerili, four OP Chains (Base, Zora, Public Goods Network, Mode), and six OP Stack Forks (opBNB, Mantle, Metis, Boba, Kinto, Loot Chain). 📊

As Covalent extends its operations to enhance universal blockchain data accessibility, the grant from Optimism stands as a signal and testament to the quality of structured data and data availability provided by CQT’s unified API. 📡

Covalent’s Data Fosters a Thriving Ecosystem 🌱

This collaborative effort between Covalent and Optimism has solidified a thriving ecosystem, promoting innovation and efficiency within the Web3 landscape. Developers within the Optimism Collective have consistently reaped the benefits of transparent data access provided by Covalent’s Unified API, supporting over 200 blockchains. This access enables the extraction of valuable insights and facilitates data visualization through tools like Increment. 📈

As Covalent and Optimism continue their collaboration, the Web3 community can expect a transformative era marked by enhanced data dynamics, streamlined development processes, and increased accessibility. This collaboration affirms the pivotal role of collaboration in shaping the future of decentralized technologies. 🤝

About Covalent 🌐

Covalent (CQT) powers the data layer in blockchain, enabling millions of users to build the new economy. It stands out for its deep commitment to democratizing blockchain data availability. Since its inception, Covalent has been helping developers, analysts, and enthusiasts with comprehensive, real-time data across over 200 blockchains. Learn more about how Covalent is building the Ethereum Wayback Machine on their Official Website.

For more information, check out Covalent’s: – Official Website – Twitter – Discord – Telegram – Blog – API Guides

About Optimism 🌈

Optimism (OP) is a layer-two scaling solution blockchain built on top of Ethereum. It provides benefits to the Ethereum mainnet by using Optimistic Rollups, a scaling solution that relies on off-chain computation to trustlessly record transactions while still relying on the security of Ethereum. Follow Optimism on Twitter and join them on Discord.

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🤔 Q&A

Q: How does Covalent’s unified API benefit developers and analysts? A: Covalent’s unified API offers seamless access to real-time data, simplifying cross-chain development and allowing developers and analysts to focus on their core activities. It eliminates the complexities associated with building chain indexers, data stacks, and dApps, streamlining the development process.

Q: What categories are contributors rewarded for in the RetroPGF experiment? A: Contributors in the RetroPGF experiment are rewarded across four essential categories: OP Stack, Collective Governance, Developer Ecosystem, and End User Experience and Adoption.

Q: How has Covalent contributed to the Optimism ecosystem? A: Covalent has played a pivotal role in the positive growth and impact of the Optimism Collective over the past two years. Its comprehensive application data provisioning and data availability have significantly enriched the Optimism ecosystem.

Q: What blockchains does Covalent support? A: Covalent supports over 200 blockchains, including OP mainnet, OP Sepolia, OP Goerili, four OP Chains (Base, Zora, Public Goods Network, Mode), and six OP Stack Forks (opBNB, Mantle, Metis, Boba, Kinto, Loot Chain).

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As Covalent and Optimism continue their collaboration, we can expect further advancements and innovations in the Web3 landscape. The enhanced data dynamics, streamlined development processes, and increased accessibility resulting from this partnership will shape the future of decentralized technologies. 🌐

If you found this article informative, don’t forget to share it on social media and spread the word about the exciting collaboration between Covalent and Optimism! 📢

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