📡 Weekly Relay Recap #58 🛰️
Over the last week (02/10-02/16), the Pocket Network protocol successfully relayed over 2.2 Billion application requests (up by 1.1%) & settled at 31K staked nodes (up by 9.3%)!
Weekly Relay Recap & Analysis 👋
Another consistent week at Pocket Network with relays average at 300M+ daily average minting around 3M+ $POKT average per day.
Pocket Network’s infrastructure now stands at 30k nodes strong!
FUSE Mainnet last week had shifted 20% of their RPC traffic to Pocket Network’s nodes. This caused the relays from the chain to jump to 114M in this week compared to 18M last week. This also takes FUSE Mainnet’s relay share of total Pocket Network’s relays to 5%.
The average daily relays were up by 1.1% compared to last week at around 314M relays.
Nearly 8.7B 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 31,148 nodes!
Distribution of relays requested by blockchains:
FUSE Mainnet drove 114M relays this week compared to just 18M relays in previous week. Other big changes in the relay mix were Avalanche Mainnet relays grew by 72% and Ethereum Rinkeby relays grew by 41%.
Here is the percentage change in relays this week when compared to last week.
What do you think the lineup will be like next week? Share your thoughts on Twitter!
There are two active proposals up for vote in Pocket Snapshot as of today.
- PUP-13: Initial WAGMI Parameters https://gov.pokt.network/#/proposal/0xe10d96859a522ef190112f63423b8d6f256a1afe1477f9d8355a2d1ee4d94ce9
- PUP-11: WAGMI Inflation https://gov.pokt.network/#/proposal/0x8c120cb65be1e92bea5f90d2068f6763ba1b60ddd86ff2dbd58b46959c730d78
These proposals are under active discussion by community members:
- PUP-12: Inflation Stop-Gap Proposal: Double Trouble
- PEP-21: Bypass wPOKT LBP and go straight to the bridge
- PUP-11: WAGMI Inflation
- PEP-19: The Development of PocketRS, Ongoing Client Support, and Feature-Rich Documentation
- PEP-16: Universal Contributor Income
- PIP-11: Implementing an On-chain Rev Share Mechanism
There is one new proposal put up on the Pocket Network forum this week.
PEP-22: Carbon Neutral Pocket
This proposal talks about allocating an amount of wPOKT/POKT/USDC to market buy carbon tokens from Toucan protocol.
The primary objective is offsetting Pocket Network’s carbon footprint. Currently Pocket Network has 30,000+ nodes which generates 5500 tons-15650 tons of CO2equivalent. Purchasing these tokens and subsequently retiring them on-chain through Klima will help Pocket Network go green, carbon neutral, and eventually zero carbon (in that order).
This could potentially also play out as an excellent marketing angle in a way that Pocket Network which runs node infrastructure of all major blockchains becomes green and decentralized at the same time.
One can read the complete detailed proposal and contribute towards the discussion here:
We are seeing active and engaging discussions by the Pocket Network Community on the forums. Join the discussion and share your opinion. Your voice matters and will be heard. You can do so by clicking the hyperlinks of any of the proposals.
Pocket Network held a virtual workshop this week covering the basics of building Ethereum dApps with Pocket Network.
Follow the #announcements and #node-runners channel on Pocket Network’s discord for more updates.
Pocket Network v1 spec release
Recently, Pocket Network revealed to the community v1 specs! The call was held on Discord/Twitter spaces and was met with great excitement and interest in the future of Pocket.
(For those that missed this call, the recording is below!)
Shortly after, the detailed docs were released.
Here are the simplified docs for v1:
And the deeper technical specifications:
Pocket Network v1.0 Utility Q&A
Sampled the future of Pocket Network’s economics and still fishing for more? 🎣 In this Q&A with Andrew Nguyen, Protocol Lead, Pocket Network and BenVan, a long term community member talk about the utility aspect of the new v1.0 protocol.
One can watch it here:
Missed the community call but wanted to attend?
You can still do it! This was just one of the calls planned. RSVP to the below scheduled calls in the upcoming weeks:
The recording of this event is here:
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, CTO and Co-founder, Pocket Network and Irving Rivas, Communications Chief, Pocket Network
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, Protocol Lead, Pocket Network and Daniel Olshansky, Protocol Specialist, Pocket Network.
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, Protocol Engineer, Pocket Network; Otto Vargas, Blockchain Engineer, Pocket Network and BenVan, Protocol Advisor, Pocket Network.
Other Community Updates
Poktpool is on its 19th Tranche now with 2500+ members staking varied amounts of POKT!
After a temporary dip in rewards last week, the average Rewards per Day are back at ~104 per Day per Node as of this writing.
Community member Thunderhead launches tpokt
Thunderhead launches a community built ERC-20 token tpokt which is pegged 1:1 to POKT. You can now stake for hourly staking rewards (compounding). There is no minimum.
One can read in more detail and participate in staking here:
Pocket Network at EthDenver this week
Just this week Pocket Network gave a talk at EthDenver and spoke about the upcoming v1 release. If you missed the talk, you can watch it here:
One can also follow the twitter thread which summarizes the points from the talk.
FUSE Mainnet drives 5% share of the total relays in Pocket Network
FUSE Mainnet shifted 20% of its RPC traffic to Pocket Network this week. The contribution of relays from FUSE Mainnet jumped to 5% of total relay traffic.
Pocket Network participates in DeversiFi’s Defi Legends LoL Tournament
Pocket Network goes head to head against several other Defi protocols in weekly matches through March and April. Teams consist of one team member and 4 community members with 5 substitutes available.
Defi Legends kicks off on March 2nd and will go on for 8 weeks. For winners there is a prize pool of $40,000 consisting of $5,000 of each project contributing.
One can read more about about the tournament and also participate by filling up the form here:
Pocket Network breaks 30k nodes milestone
Pocket Network now has twice the number of full nodes as bitcoin network has. Pocket Network’s innovative incentive structure proves that the full nodes issue that have long plagued the Bitcoin network can be solved.
While Bitcoin has gained 50% more nodes in the last year from 10,000 to current numbers of 15,000, Pocket Network has jumped 3000% from 1000 to 30,000 nodes. Furthermore, Pocket nodes are capable of providing infrastructure services to not just Bitcoin, but over 3 dozen other blockchains including Ethereum, Solana, Avalanche, and Harmony.
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, and/or Polygon through the custom rpc settings!
Try out any of these other apps listed in 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.