Over the last week (01/06-01/12) the Pocket Network protocol successfully relayed over 2.2 Billion application requests (up by 17.1%) & the number of staked nodes increased further to 20.9k nodes (up by 8.9%) when compared to last week! Before we jump into the relay analysis, we’d like to surface a couple of huge announcements:
Pocket Network Gets Listed on Centralized Exchanges!
Months of hard work by the POKT DAO appointed Exchange Committee on exchange listings, and they’ve delivered, with some back-to-back announcements to show for it. We are proud to announce that $POKT is now listed and tradable on these official exchanges:
And Okcoin has also announced the listing would be coming soon to their platform!
These are official listings in-line with the passed DAO proposal – PEP-4.
Pocket Network v1.0 Specification Reveal
Big things are coming, and Pocke Network v1.0 is perhaps the biggest of them all!
Join us for the events below to learn more about our vision for the future of web3 infrastructure:
Pocket Network v1.0 Spec Reveal
Join us to learn more about the future of the Pocket Network protocol. We’re sure this will be a SLAm dunk call with a quadrillion reasons to be excited… 😉
Pocket Network v1.0 Utility Q&A
Sampled the future of Pocket Network’s economics and still fishing for more? 🎣 Join this Q&A with Andrew Nguyen and BenVan.
Pocket Network v1.0 Persistence Q&A
Validate the state of the engine powering Pocket Network’s data storage needs by joining this Q&A with Luis Correa de León and Irving Rivas.
Pocket Network v1.0 Consensus Q&A
After digging into the hot stuff that is the v1.0 Consensus specification, join this Q&A with Andrew Nguyen and Daniel Olshansky.
Pocket Network v1.0 P2P Q&A
When we read this Gem of a P2P structure we are hopping with excitement. If you were too, and want to become a leader in v1.0 awareness, push “interested” on this Q&A with Hamza Ouaghad, Otto Vargas and BenVan.
Weekly Relay Recap & Analysis 👋
Continuing the growth in the 2nd week, Pocket Network set a new record by crossing 300M average daily relays this week for the first time. The growth comes organically from Harmoney blockchain as the adoption continues to rise. Gnosis Chain (xDAI) relays went back down from its all-time highs as the Dark Forest community round by DFDAO was completed last week. Overall, growth in relays continues week on week with average daily relays of the past 4 weeks crossing 240M.
The average daily relays were up by 17.1% compared to last week at around 314M relays.
Over 6.83B relays have been processed in total throughout the last four weeks. The exact figures are displayed in the table below.
For those interested in diving deeper into the metrics, one can find them on C0D3R’s Pocket Network charts.
The pie chart below shows the distribution of all POKT rewards minted over the past week between the service nodes, block producers, and the Pocket DAO.
At the time of this writing, Pocket Network now has 20,768 nodes!
Distribution of relays requested by blockchains:
While the top relay drivers continued to remain the same, here are the top changes of the week:
- xDAI Archival – Up by 41.3%. Grew from 1.1M relays to 1.6M relays.
- Harmony Shard 0 – Up by 26.1%. Grew from 1.5B relays to 1.9B relays.
- Avalanche Mainnet – Up by 24.1%. Grew from 1.9M relays to 2.4M relays.
- xDAI – Down by 77.5%. Went down from 104.5M relays to 23.5M relays.
xDAI downtrend is due to the Dark Forest activity completed in the week prior. We will continue to update the community of future rounds, official and community-led.
What do you think the lineup will be like next week? Share your thoughts on Twitter!
wPOKT dev log #8 was published earlier today!
Here’s the quick download:
- The Security by Anonymity Option proposal passed with a 5 to 1 vote.
- Next, the POKTdao will host a vote on who will be the four community-nominated signers.
For more details and links, read the full developer log here:
There are no new proposals up for a vote as of writing (01/14/2022).
These proposals are under active discussion by community members:
- PUP-11: WAGMI Inflation
- PEP-19: The Development of PocketRS, Ongoing Client Support, and Feature-Rich Documentation
- PEP-16: Universal Contributor Income
- PIP-9: Consensus Rule Change RC-0.8.0
There is one new proposal put up on the Pocket Network forum.
PIP-11: Implementing an On-chain Rev Share Mechanism
This proposal aims at introducing an on-chain revenue share mechanism between RPC endpoint/full node providers and Pocket Network validators. The rationale being that currently rewards for relays in POKT tokens are reserved for Pocket validator nodes and operators. However, within a validation cluster there are two tracks of work being performed; (i) relaying data and (ii) performing validation services.
The suggestion is to separate the two tracks of work in terms of rewards earned.
This new proposal is under active discussion by the community, chime in below:
PIP-10: wPOKT Multi-Sig Signer Selection
Full proposal here:
RC-0.7.1 was released earlier this week. It is a small release to fix an issue when syncing from scratch at height 28153. Check the complete release details here:
Community-developed Ecosystem Tools
POKT.tools Launches a Rewards Explorer
Now you can monitor the rewards your servicer node has generated month on month and for each transaction by going to pokt.tools and putting in your servicer address.
Other Community Updates
Node Runner Office Hours
This week’s Node Runner Office Hours spoke about:
- Recap on available options to access the Pocket blockchain query data.
- A faster way to sync your node from scratch is to use Pocket snapshots provided in the Pocket Core repository and the ones provided by Storj.
- Pocket monitoring tools – Currently we have POKTscan and pokt.tools for monitoring relays, pokt minted and similar statistics around node running, relays served, and more.
- Node Pilot coming up with a new version soon.
- Recap of upcoming 0.8 version of Pocket core release which addresses one of the key demands of non-custodial sharing of POKT tokens by POKT wallet owners.
- Recap of pros and cons of bare metal nodes compared to nodes spun up on cloud providers.
Watch the video here:
Node Runner Office Hours is a weekly community call that happens every Wednesday at 1 PM, EST. Head over to the Pocket Network discord channel to subscribe to the call next Wednesday.
POKTpool maintains its lead as the 1st and best option for new and existing community members with less than 15,000 POKT to stake and earn $POKT.
The pool has completed 9 tranches and Tranche 10 is now live.
You can stake in the pool by sending your POKT on the following days:
- Friday 10pm EST to Sunday 10pm EST
- Tuesday 10pm EST to Wednesday 10pm EST
Two tranches are now launched weekly which means twice compounding of staked $POKT every week.
Join their discord server to know more and take part in fractional staking!
Poktopus talks about Pocket Network on Youtube
Long-term community member Jinx (aka the POKTopus) joins Youtube contributor Crypto Culture to talk about Pocket Network.
Watch it here:
Launch of a New Fractional Staking Pool!
Community member @salvator58 (Telegram) launched a Korea POKT pool this week. You can know more about the pool and join here:
Gate.io Exchange Lists $POKT
Gate.io went live with the listing pair: $POKT / $USDT and trading started on Jan 12th.
XT.com Exchange Lists $POKT
XT.com went live with $POKT earlier in the week, too. In fact, they have an airdrop campaign:
Huobi Exchange Lists $POKT
Huobi lists $POKT! They are giving out $40,000 in POKT, too:
MEXC Global Exchange Lists $POKT
MEXC lists $POKT in the Innovation Zone under trading pair: POKT/USDT. They also have a trading contest going on with $POKT worth 5,000 to be won.
Lucky Red Pocket Envelope Airdrop Makes Waves
There are 8888 entries in already in the Lucky #redpokt Airdrop. If you still don’t have any #POKT, you can participate in the airdrop NOW!
It ends on JAN 24th, so don’t wait too long.
Pocket Network’s Michael O’Rourke speaks at Web 3.0 ERA
499Block Global hosted an online Web 3 Carnival – Web 3.0 ERA this week on their Twitter Space.
They also did a 10,000 USDT giveaway for those who joined the call.
Delphi Digital Research Firm Mentions Pocket Network
The research firm Delphi Digital highlights Pocket Network in its most recent Twitter thread.
For the full report, read it here:
DefiKingdoms Launching a #Crystalvale Realm on Avalanche
You can add the AVAX RPC Endpoint to your metamask wallet in order to prepare yourself for the launch.
Pocket Network’s Michael O’Rourke Discusses Web 3 Infrastructure
CEO & Co-Founder Michael O’Rourke talks about Pocket Network’s exciting potential of being able to serve over 100 blockchains in the multichain future!
Listen all about it here:
XT.com Live Does an AMA
On 11th January, XT.com hosted a live stream with guests – Michael O’Rourke, Co-founder & CEO, Pocket Network and Kevin O’Brien, Managing Director, RockTree Capital.
They answer questions about:
- What Pocket Network is and it’s growing significance in Web3
- Economic model surrounding #POKT
- RockTree Capital’s strategic partnership with Pocket Network
- Synergies and competitors to Pocket Network
- Upcoming marketing and technology plans
Here is the review of the AMA in case you missed the live stream:
CGV Research Releases a Research Report on $POKT
CGV Research wrote an analysis of the top 3 middleware protocols in the web3 Index Chart, one of the projects being Pocket Network. It was published on newsbtc.com this week.
They explain what Pocket Network does, its significance in the overarching blockchain ecosystem, the developer pain points it is solving, unique tokonomics, and more. You can read it here:
Beginner’s Guide to Understanding Pocket Network
Youtube contributor and a long term technologist Wes Spencer covered Pocket Network in his latest video. He shares a beginner’s guide to understanding Pocket Network. Watch it here:
What can you do to drive relays and add nodes to the network?
Apps & App Users
If you care about privacy and decentralization, replace the default network provider in your MetaMask wallet with actual decentralized node infrastructure by adding a Pocket-powered RPC endpoints for Ethereum, Avalanche, xDAI, Fuse, Harmony, and/or Polygon through the custom rpc settings!
Try out any of these other apps listed on the Conscious Dappitalism page within our new docs.
You can also earn a skill-role in our Discord community server for dogfooding any of those applications by completing a quest within the POKT arcade.
Nodes & Node Runners
Don’t know how to run a node? Check out the Node Runner docs above to learn how.
Try out Node Pilot, it’s the most user-friendly option to spin up both base layer blockchain nodes and Pocket nodes.
If you run into any issues, a community of node runners (and our support team) would be happy to help. If you’d prefer to not run a node yourself, check out the forum for a list of node providers offering their services to people interested in participating in the ecosystem.
How to purchase POKT to stake?
When you are ready to take the step forward in supporting decentralized node infrastructure and earning Pocket’s native cryptocurrency for serving apps then visit any of these community-established OTCs:
They are the best way to buy or sell POKT; and it helps nodes cover the cost of their infrastructure. Join either private telegram channels (requires telegram) and message the admin to get started. Note that there are fees associated with the OTCs to help cover their costs and that neither Pocket Network, Inc., the Pocket DAO, nor the Pocket Foundation receives any of these fees nor any proceeds from the sale of POKT through the OTCs.