Covalent 2024 Q1 Review: Powering DA, AI Applications, and Community Airdrops

Highlights Overview:

• Covalent Network (CQT) opens up a world of AI innovation with its massive real-time, historical data set A whole new era.
• The Ethereum Time Machine is a key solution that will keep blob data available as Ethereum grows.
• Covalent Network’s (CQT) token buyback and revenue model is the first step in bringing off-chain revenue to the chain.
• Covalent Network’s (CQT) traceable ecological partner airdrop is an important step in promoting its development towards a more decentralized and interconnected ecosystem.
• Recently, Covalent Network (CQT) has indexed seven new chains, including Taiko, Movement, Gnosis Chain, etc.
• The Covalent Network (CQT) team plans to participate in various events in Hong Kong and Dubai early in the second quarter.

Covalent Network (CQT) Data Overview

Covalent Network (CQT) is a leading force in promoting the data layer of blockchain infrastructure, focusing on expanding its ecosystem System impact, enhance long-term data availability, and leverage historical data for artificial intelligence (AI) training and quality inference. Covalent Network (CQT) continues to push the boundaries of structured data and innovation. Here is an overview of key metrics for the impregnable Covalent Network (CQT), the largest on-chain data layer in Web3:

Covalent Network (CQT) Q1 Data Overview

Prepare for the future development of the EVM ecosystem and empower AI

With the proliferation of AI projects and the widespread adoption of Rollups technology, a unified architecture to adapt to the continuous The growing number of language models is becoming increasingly evident. Covalent Network (CQT) is at the forefront of this transformation, demonstrating the emergence of a large number of new use cases and rapid integration into these systems.

Several projects, including SmartWhales, BotFi, Laika AI and Entendre Finance, leverage Covalent Network’s (CQT) data infrastructure to innovate their AI-driven solutions. By leveraging Covalent Network’s (CQT) extensive data set, these projects are revolutionizing DeFi and blockchain analytics.

Introducing the Ethereum Time Machine

Covalent Network’s (CQT) Ethereum Time Machine is an open source solution designed to Addressing the challenges of mid- to long-term data availability in Ethereum’s “Rollup Era”. It enables developers, researchers, and ecosystem participants to access rich, cryptographically secure historical data without relying on a centralized intermediary. To ensure that Ethereum continues to thrive and become a powerful platform for innovation, EWM supports diverse use cases such as AI model fine-tuning, machine learning, risk estimation, and more.

Covalent Network (CQT) also recently announced that it will expand its operator base. This initiative aims to organize, standardize, and securely store historical data on-chain for Ethereum EVM state execution and blobs data. By gradually decentralizing its data pipeline and expanding its network to verify on-chain data, Covalent Network (CQT) is able to continue to expand its structured data set, serving it through a unified API on the more than 225 blockchains it indexes. Extensive use cases.

Covalent Network (CQT) CQT token total pledge data

Covalent opens token repurchase plan

Covalent Network (CQT) recently launched its commercial revenue-based token buyback program, which is seen as an important step in moving off-chain revenue onto the blockchain, revealing Covalent Network (CQT)’s move towards a sustainable The revenue drives a key shift in ecosystem development and lays the foundation for the launch of query nodes later this year.

Covalent Network (CQT)’s native token CQT plays dual roles in staking and governance. Operators stake CQT to participate in network operations, ensuring network security and honest behavior while validating data extracted from the blockchain. CQT plays a key role in governance, enabling holders to vote on on-chain proposals.

Wormhole Incentive Airdrop & Ecosystem Plan

Covalent Network (CQT) brings an exciting income expectation to CQT stakers— —Future traceable airdrops from ecological partners. With the launch of new Layer 1 and Layer 2 and improvements to their token distribution methods, CQT stakers and network operators will directly benefit from Covalent Network’s (CQT) support for blockchain infrastructure.

In the recent Wormhole token airdrop, those CQT stakers who participated in the Wormhole Portal Bridge may be eligible for W token distribution. Integrating and indexing over 225 blockchains and enriching over 240 million wallets with their data, Covalent Network (CQT) will provide those who interact with Covalent Network (CQT) with massive airdrop opportunities.

Expand data infrastructure with new integrations

As an indexing and query middleware for blockchains, Covalent Network (CQT) recently added support for seven chains Expansion, including Taiko, Movement, Gnosis Chain, etc. This expansion underscores Covalent Network’s (CQT) commitment to democratizing blockchain data access and promoting transparency in the decentralized ecosystem.

Covalent Network (CQT) upcoming roadshow

The Covalent Network (CQT) team participated in the 2024 ETHDenver event and gained a wealth of insights through in-depth interaction experience. During the week of the meeting, there were many in-depth discussions on topics such as data availability, DePIN, and the future of decentralization.

The team will also travel to Hong Kong and Dubai to participate in various events during April:

• 2024 Hong Kong Web3 Carnival Summit

Date: April 6th to 9th

Venue: Hong Kong Convention and Exhibition Center

• 2024 Hack Summit hosted by Hack VC

Date: April 9th ​​to 10th

• TOKEN2049 Dubai

Date: 15th to 19th April

Location: Madinat Jumeirah

Final Thoughts

As the Covalent Network (CQT) ecosystem grows, its commitment to providing the necessary data infrastructure remains steadfast, paving the way for transformation in the digital age. Covalent Network (CQT) continues to focus on expanding its ecosystem, shaping artificial intelligence, improving data availability, and strengthening its cross-chain network. Covalent Network (CQT) continues to lead the innovation frontier in the blockchain field.

About Covalent Network (CQT)

Covalent Network (CQT) creates Web3’s largest data availability layer, empowering millions of users in AI, big data and Building new economic products in the DeFi field. It is deeply committed to democratizing data acquisition by making structured data accessible to everyone through a unique unified API. As a core component of the DePIN ecosystem, Covalent Network (CQT) provides developers, analysts, innovators, and thousands of customers with comprehensive, real-time access to more than 225 blockchains and growing data .

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