Optimism Collective Provides Covalent Network (CQT) with $200,000 Ecosystem Grant

Covalent Network (CQT) has achieved significant results in partnership with Optimism Collective to become a key "data availability" layer in the Web3 ecosystem. Covalent Network (CQT) has had a direct impact on the entire ecosystem through cross-chain data growth with Optimism, and this milestone is being widely recognized. In recognition of its contributions, Covalent Network (CQT) is a proud recipient of a $200,000 grant from Optimism Collective. This award is not just awarded to Covalent Network (CQT), but also to the projects, community creators, and public facility maintainers that develop with and contribute to it. These great ecological roles have made important contributions to the success of Covalent Network (CQT). Optimism Collective’s funding is important for the future development of Covalent Network (CQT). This will further strengthen Covalent Network (CQT)’s position in the Web3 ecosystem and provide it with more opportunities to cooperate with other ecological projects to jointly promote the development and innovation of decentralized technology. Covalent Network (CQT) will continue to strive to provide efficient and reliable data availability solutions and contribute to the prosperity of the entire ecosystem.

Covalent Network (CQT) has been funded with approximately 50,000 Optimism (OP) tokens in recognition of its important contribution to the Optimism ecosystem. As one of 501 projects and individuals recognized by the Optimism Collective, Covalent Network (CQT) has played a key role in the collective’s growth and impact over the past two years.

Covalent Network (CQT) stands out as a leader in Web3 not only for its comprehensive application data provision, but also for its outstanding data availability. With continued growth every month, it provides rich data to over 240 million wallets, solidifying its position in the Web3 world.

Retroactive Public Goods Funding (RetroPGF) is one of the important public goods funding programs in the encryption field. The goal of the program is to reward contributors in four key categories, including OP Stack, collective governance, developer ecosystem, and end-user experience and adoption. This program is designed to provide financial support to drive growth and innovation in the crypto space while encouraging greater participation and contributions.

Quote from Ganesh Swami, Co-Founder and CEO of Covalent Network (CQT):

We are extremely grateful to be the beneficiary of the third round of RetroPGF, it is an honor for us. We look forward even more to our continued collaboration with Optimism. We are committed to strengthening cooperation, promoting the development of the open source ecosystem, and making greater contributions to public goods.

Covalent Network (CQT) solves the challenges faced by OP Stack developers and analysts by providing seamless access to real-time data, effectively simplifying cross-chain development. It removes the complexity of building chain indexers, data stacks, and dApps by accessing a unified API, saving developers time and allowing them to focus on core activities. In return, Optimism is able to simplify access to the Covalent Network’s (CQT) comprehensive structured data, data availability, and multi-chain infrastructure, thereby facilitating growth and user adoption within the Optimism Collective. Through Covalent Network (CQT), developers and analysts can more easily access real-time data, improving development efficiency, while Optimism can better leverage this data to drive the growth of its internal ecosystem. This partnership brings mutually beneficial opportunities to both parties and promotes progress and innovation in cross-chain development.

The benefits of Covalent Network (CQT) to the Optimism ecosystem

Covalent Network’s (CQT) unified API enables users to easily extract billions of on-chain data points for Various applications and comprehensive research. Since November 2021, Covalent Network (CQT) has been Optimism’s key data infrastructure provider for 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) are indexed.

As Covalent Network (CQT) expands its business to enhance the accessibility of universal blockchain data, it receives funding from Optimism, not only for its structured data, data availability provided by CQT Unified API The long-term practical proof is also a kind of recognition.

Covalent Network (CQT) data builds a thriving ecosystem for developers and users

This collaboration is working hard to consolidate a thriving ecosystem that can serve developers and users and promote innovation and efficiency improvements in the Web3 field. Developers within Optimism Collective have been benefiting from the transparent data access provided by Covalent Network’s (CQT) unified API, which currently supports over 200 blockchains. This access allows them to extract valuable insights and perform data visualization through tools like Increment.

As the collaboration between Covalent Network (CQT) and Optimism continues to advance, the Web3 community can look forward to an era of change in which data dynamics, optimization of development processes, and increased accessibility will play an important role, further Confirming the critical role of collaboration in shaping the future of decentralized technology.

About Covalent

Covalent Network (CQT) focuses on blockchain data availability and supports millions of users to build a new economy. Since its establishment, Covalent Network (CQT) has continued to help developers, Analysts and more provide comprehensive, real-time data on more than 200 chains.

About Optimism

Optimism (OP) is a Layer 2 scaling solution built on Ethereum. Optimism provides an extension to the Ethereum mainnet through the use of OP Rollups, a scaling solution that relies on off-chain computation to trustfully record transactions while still relying on the security of Ethereum.

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