📡 Weekly Relay Recap #29 🛰️

Over the last week between 06/10 to 06/16, the Pocket Network protocol has successfully relayed over 33.9M application requests and settled at 5,549 nodes.

Weekly Relay Recap

05/20 to 05/26: 40,610,186

05/27 to 06/02: 38,296,391

06/03 to 06/09: 32,181,324

06/10 to 06/16: 33,995,194

For the week of 06/10 to 06/16, the average successful relays per day were ~4.85M. The highest number of daily relays was on June 10th, with over 6.56M relays.

This past week, 33.9M successful relays were processed. Nodes minted  ~339K POKT during this timeframe, with ~302.55k POKT going to the service nodes, ~33.9k POKT going to the Pocket DAO, and ~3.39k POKT going to block producers.

Total Successful Relays from 05/20 to 06/16: 146,046,841

AVG Successful Relays Per Day  05/20 to 06/16: 5,215,958

AVG Successful Relays Per Week 05/20 to 06/16: 36,511,710

Over the last four weeks, applications using the Pocket Gateway drove a total of 146.0M successful requests 📡

In this timeframe, nodes have minted a bit over ~1.46M POKT, with 89% going to the service nodes (~1.29M POKT), 10% going to the Pocket DAO ( ~146k POKT), and 1% going to the block producers (~14.6k POKT).

Total Staked Nodes

5,549 (+269)

Analysis by Marco 👋 | @TMod_Marco

The number of processed relays continues to range between 4-7M. The number of relays is up 5.63% compared to last week’s relays, with an interesting spike between June 9-11th.

As more blockchains become whitelisted for node revenue-generation (i.e. paid networks), the number of relays driven to the protocol is expected to increase as well. More details coming soon. 

We’re counting 269 more nodes compared to last week. There’s a healthy continuous uptrend in the number of active validator nodes on the network, while the number of jailed validator nodes is down significantly (positive)!

With more partnerships lined up for wPOKT and more awareness for POKT, it’s likely we’re going to see the results of this within the next couple of months. We’re looking at a bright future, full of new partners, applications and relays.

As a reminder, you can drive relays to the protocol and $POKT revenue to node runners by adding a Pocket-powered Ethereum RPC endpoint within your MetaMask wallet. Here’s how: https://docs.pokt.network/home/paths/shepherd/conscious-dappitalism/metamask

Updates

PUP-8: Increase Max. Validators from 5,000 to 50,000

PUP-8 voting closed at the time of writing (June 18th), and successfully passed with 8 approvals and 0 votes against the proposal.

As a reminder, PUP-8 aims to push an update for the MaxValidators parameter from 5,000 to 50,000 to avoid a bug that is causing Tendermint to treat nodes differently if they are outside of the MaxValidators limit. Pocket Network recently crossed 5,000 active validator nodes, which is why the bug has now become apparent. It will also have the added benefit of enabling the long-tail of nodes to participate in proposing blocks and ensuring all service nodes can continue to use jailing as a graceful method of removing themselves from service.

We’d encourage you to read through the forum thread for more information: https://forum.pokt.network/t/pup-8-increase-maxvalidators-from-5-000-to-50-000/1032

If you’re a node operator, we’d encourage you to go through the arcade to complete the quests. This enables you to not only make your voice heard, but also gives you a vote in the DAO.

Check out the #calendar channel to sign up for office hours!

News

POKT x Seascape: Decentralized Infra For Decentralized Gaming

Earlier this week we announced the collaboration between POKT and Seascape Network. We’re incredibly excited to be working with Seascape to not only power the Seascape Network with our unstoppable blockchain infrastructure, but to also include them in our initial list of wPOKT launch partners

This means that when you stake wPOKT in our data farming program, you are subsidizing relays for not only Seascape, but providing blockchain network bandwidth for all of our partners within the “Genesis Farm”.

Interested in learning more about Seascape? Then be sure to read the full announcement: https://medium.com/pocket-network/dubbed-as-the-ultimate-gaming-platform-around-nfts-and-defi-seascape-network-is-a-project-we-are-42b81ee7ab52

To celebrate, we’re hosting a giveaway worth $500 in total! Interested? Check out the tweet below as entries close in less than two weeks!

P.S. More partnership announcements for wPOKT are coming soon!

The (Peaceful?) Transition From Web 2.0 to Web 3.0 | Crypto:Global Hosted by Eden Block

Today Michael O’Rourke of Pocket Network joins other panelists Tom Teman of Portis, Ganesh Swami of Covalent, Elias Simos of Coinbase/Bison Trails, and moderator Dermot O’Riordan of Eden Block to discuss what Web3 really means and what it will take to achieve the Web3 vision.

Twitter avatar for @POKTnetworkPocket Network @POKTnetwork
The (Peaceful?) Transition From Web 2.0 to Web 3.0 starting now! Grab free tickets ASAP to hear from: @tomteman of @portis_io @gane5h of @Covalent_HQ @eliasimos of @coinbase/@BisonTrails @o_rourke of @POKTnetwork
hopin.com/events/crypto-… Crypto:Global hosted by @eblockventures

Dermot O'Riordan @Dermot_Oriordan

Looking forward to moderating a great discussion this Friday about the transition from Web2 to Web3 Sign up for free at https://t.co/QkGfTroYwv Amazing speakers include Web3 builders such as @o_rourke @gane5h @tomteman and aficionados such as @eliasimos https://t.co/c0XMsy314d

Grab your free tickets to watch:

https://hopin.com/events/crypto-tel-aviv

Community All-hands

Join us for a monthly all-hands community call where we'll discuss a range of topics, including protocol upgrades, DAO proposals, community projects, and any topic that you propose.

Time & Date: June 25th, 12PM EDT.

Current agenda:

  • Chain Halt Post-Mortem

  • 0.6.3 Consensus Upgrade (PIP-4)

  • New Chain Listing Strategy (PIP-6.2)

  • New Block Explorer Showcase

  • Node Pilot Updates

To participate & to suggest topics, check out the Discord #calendar channel:

https://discord.com/channels/553741558869131266/812363956520878171/854552509350936586

What can you do to drive relays and add nodes to the network?

App Side of the Marketplace

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 Ethereum mainnet endpoint 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

If your application or service is interested in becoming a launch partner for the wPOKT farming program, register here

Node Side of the Marketplace

Don’t know how to run a node? Check out the Node Runner docs above to learn how. 

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:

SubZero OTC

Thunderhead OTC

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.

Connect with Pocket: 

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

👾 Visit the Pocket Network Website

♻️ Learn more about wPOKT

📡 Weekly Relay Recap #28 🛰️

Over the last week between 06/03 to 06/09, the Pocket Network protocol has successfully relayed over 32.1M application requests and settled at 5,280 nodes.

Weekly Relay Recap

05/13 to 05/19: 31,136,505

05/20 to 05/26: 40,610,186

05/27 to 06/02: 38,296,391

06/03 to 06/09: 32,181,324

For the week of 06/03 to 06/09, the average successful relays per day were ~4.59M. The highest number of daily relays was on June 3rd, with over 5.01M relays.

This past week, 32.1M successful relays were processed. Nodes minted  ~321K POKT during this timeframe, with ~286.41k POKT going to the service nodes, ~32.1k POKT going to the Pocket DAO, and ~3.21k POKT going to block producers.

Total Successful Relays from 05/13 to 06/09: 142,224,406

AVG Successful Relays Per Day  05/13 to 06/09: 5,079,443

AVG Successful Relays Per Week 05/13 to 06/09: 35,556,101

Over the last four weeks, applications using the Pocket Gateway drove a total of 142.2M successful requests 📡

In this timeframe, nodes have minted a bit over ~1.49M POKT, with 89% going to the service nodes (~1.32M POKT), 10% going to the Pocket DAO ( ~149k POKT), and 1% going to the block producers (~14.9k POKT).

Total Staked Nodes

5,280 (+403)

Analysis by Marco 👋 | @TMod_Marco

The number of processed relays went down a fair bit this past week. I’d like to do more research on this assumption, but it looks like macro-market sentiment influences the number of relays. I’m writing this report on June 11th, and the past two days we’ve seen a positive macro-market sentiment for cryptocurrency, whereas the relays on the network saw a significant increase as well.

Overall, we’ve been inside the 4-6M range for daily relays throughout the past 90 days.

The number of total active validator nodes on the network went up by 8.2% again and now counts over 5,000 active validator nodes total! A major achievement we’re excited to celebrate with the community.

Updates

PUP-8: Increase Max. Validators from 5,000 to 50,000

PUP-8 went live for voting today (June 11th), voting is open until June 18th and so far there’s 6 members that approve of the proposal with 0 votes against it.

PUP-8 aims to push an update for the MaxValidators parameter from 5,000 to 50,000 to avoid a bug that is causing Tendermint to treat nodes differently if they are outside of the MaxValidators limit. Pocket Network recently crossed 5,000 unjailed nodes, which is why the bug has now become apparent. It will also have the added benefit of enabling the long-tail of nodes to participate in proposing blocks and ensuring all service nodes can continue to use jailing as a graceful method of removing themselves from service.

For more information, please check out our forum thread: https://forum.pokt.network/t/pup-8-increase-maxvalidators-from-5-000-to-50-000/1032

Voting can be done here: https://gov.pokt.network/#/pokt-network/proposal/QmZ1BcUrFuNY9smDMuinwG47CksWHS9AcED3bQn6SquzJM

News

Release Candidate 0.6.13 (Pocket-JS)

Many of you may have already spotted this earlier this week on our social channels. A new version of the @pokt-network/pocket-js package for mainnet was published on Github!

This version includes the following updates:

  • RPC:

    • ResponseDeliverTx was causing the getAccountTxs and getBlockTxs queries to fail:

      • Removed gasWanted and gasUsed properties.

      • Added recipient, signer and messageType properties.

    • StdTx model:

      • Updated the Msg property to accept Any object since the response schema is not static.

What can you do to drive relays and add nodes to the network?

App Side of the Marketplace

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 Ethereum mainnet endpoint through the custom rpc settings!

Try out any of these other apps listed in this forum post. 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

If your application or service is interested in becoming a launch partner for the wPOKT farming program, register here

Node Side of the Marketplace

Don’t know how to run a node? Watch the Zero to Node videos above to learn how. 

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:

SubZero OTC

Thunderhead OTC

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.

Connect with Pocket: 

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

👾 Visit the Pocket Network Website

♻️ Learn more about wPOKT

Pocket Network News | MAY 2021

POKT Network Rebrand. Over 4,800 nodes currently live. Information on wPOKT, developer updates, and more...

🔥 POKT Network Rebrand

May was a huge month for Pocket Network, including an exciting full rebrand reflecting what the future of Web3 infrastructure should look like.

Our rebrand includes:

  • A fully new designed website displaying statistics, USPs (unique selling proposition), a clear CTA (call-to-action) for DApps & node operators, our great partners, and most importantly, the new website exhibits our values and mission: coordinating open access to the world’s public data by empowering anyone to provide unstoppable infrastructure.

  • New documentation enabling you to dig into the protocol and learn how the protocol works in detail.

  • A new press kit enabling anyone to share Pocket Network with the world, further kickstarting a decentralized future and proudly displaying that they use decentralized infrastructure.

We thank everyone who’s helped us to identify our new brand style!

📈 Network Heartbeat 🩺

Over the last four weeks, blockchain applications using the Pocket Gateway have driven a total of ~169.7 million requests. All of which were successfully processed by the network.

In this timeframe, that means nodes have minted a total of 1.69M  POKT, with 89% going to the service nodes (1.51M  POKT), 10% going to the Pocket DAO (169.7K POKT), and 1% going to the block producers (16.9K POKT).

At the time of writing this, there are 4,877 staked nodes in Pocket Network. 

That’s an increase of 1,422 nodes (+41.15%) compared to last month! And a massive  increase of 78.5% compared to the month before that (+2,145 nodes)!

Refresh of Weekly Relay Recap #27

Pocket Gateway Stats 05/27 to 05/31

05/06 to 05/12: 39,308,148

05/13 to 05/19: 31,136,505

05/20 to 05/26: 40,610,186

05/27 to 06/02 (So Far): 38,296,391

AVG Relays per DAY (in MARCH): 5,846,867

AVG Relays per DAY (in April): 4,982,846

AVG Relays per DAY (in MAY): 5,474,895

AVG Relays per Week (in MARCH): 40,928,072

AVG Relays per Week (in APRIL): 34,879,925

AVG Relays per Week (in MAY): 38,324,267

Total Successful Relays in MAR: 181,252,892

Total Successful Relays in APR: 149,485,394

Total Successful Relays in MAY: 169,721,755

For the month of May, node operators served 169.7M relays from blockchain applications. That means they generated 1.69M POKT with 89% going towards the service nodes (1.51M POKT), 10% going towards the Pocket DAO (169.7k POKT), and 1% going towards the block producers (16.9k POKT). 

Most Relays in FEB: 8,044,418 (FEB 11th)

Most Relays in MARCH: 12,825,811 (MAR 25th)

Most Relays in APRIL: 8,420,327 (APR 11th)

Most Relays in MAY: 6,722,197 (MAY 28th)

The number of active validator nodes surpassed 4,800, meaning we’re getting really close to achieving 5,000 active validator nodes! Together with that, over 271M POKT remains staked on nodes.

If you’re new to running a node and want to know why your node has been jailed, please check out this post on our FAQ. Or, if you’re looking to get started with a node, then learn more here.

🧰 Developer Updates

Chain Halt Status Update

This (holiday) weekend, the resilience of our network was tested. We see ourselves in the same likeness as the largest utility networks in the blockchain space, like Ethereum, who have also experienced real production stress tests that could be considered defining moments for young communities. We are proud (and relieved) to now update everyone else on how our community came together to get through this moment and came out stronger because of it.  

To those of you who are unaware, we experienced a chain halt, which means we didn’t have the 67% consensus required between nodes to produce new blocks. 

No applications lost service throughout this time because our network and products are designed for maximum redundancy, including a scenario in which the protocol itself is under duress. This means our Pocket Dashboard/Gateway automatically shifted to “altruism mode,” in order to continue serving decentralized applications.  

The full details and history can be found here - https://forum.pokt.network/t/chain-halt-status-update/1021.

The most heartening thing about this experience has been seeing our largest node runners step up, coordinating around the clock with our core devs to diagnose the halt, keep their nodes up, and cooperate across time zones to achieve consensus. We’d like to shout some of these true nodeges out here 📣   

wPOKT Sneak Peeks & Updates

wPOKT is shaping up to be one of the most anticipated yield farming launches this year. Because of this major influx of attention and interest we are working tirelessly to dot our I’s and cross our T’s before the hard launch. But we could leave everyone hanging, so we dropped some teasers. 

Basically, we’re building a micro-economy that enables DApp end-users to get more involved in the web3 ecosystem. Giving users the opportunity to crowdsource infrastructure access on behalf of their favorite applications while earning a wPOKT yield — Regenerative Finance. Rather than projects paying for infra, they can now request their community members to cover these costs. We call this Regenerative Finance.

Regen wPOKT data farming is a growth bootstrap program for Pocket Network’s work economy.

The data farming program is designed to drive relays to the protocol, which boosts the rewards for nodes since the POKT mint rate is directly proportional to relays. A win-win situation for all parties involved.

At this time, the wPOKT farming app has been built by Raid Guild and is ready to go. However, after listening to the requests of our community, the timing of the wPOKT farming launch has been reevaluated to coordinate it more closely with the timing of the wPOKT<>POKT token bridge. This against are most hype up urges, means we still will not give a hard date, but will update the community as we get closer and closer to completing the bridge.  

SIgn up to stay in the loop that creates the loop:  

https://bit.ly/WrappedPOKT

P.S Partnership announcements will be going out soon!

Mainnet Upgrade - 0.6.3 Important Feature - Update Stake

Earlier this month, Jack published ‘Mainnet Upgrade – 0.6.3 Bonus Feature – Update Stake’, in which you can read more about this important bonus feature within the mainnet upgrade 0.6.3 release. This new functionality enables apps/nodes to edit certain parameters of their stake without needing to unstake first.

Such as adding more chains to your node, topping up your stake (e.g. to prevent falling below 15,000 POKT staked), and editing your service url.

⚖️ Economic & Governance Updates

Nodes: Genesis Block

This is an important economic update for those who received POKT from the genesis block earlier this month: ‘’If you received pre-staked POKT from the Genesis block, then that POKT was given to you as a jailed POKT Node. If you have not deployed your Genesis nodes, then they are still currently jailed.

Pocket Mainnet has a max jail time of 37960 for POKT Nodes. THIS MEANS ANY POKT THAT IS SITTING IN A JAILED NODE WILL BE BURNED AFTER BLOCK 37960.

Block 37960 is expected to land in mid September. Be sure to unjail or unstake your jailed POKT Nodes before block 37960 or you will lose all your POKT.

To view what's the current block on Pocket Network feel free to visit https://explorer.pokt.network/’’

Unsure if this affects you? Ask for support in our Discord community server

Governance Updates

May was a busy month for the DAO, with various proposals . We’ll highlight the proposals that passed & the ones that are currently being discussed for you:

Proposals that successfully passed:

The Cancellation of PUP-4, PEP-6 Node Pilot, PEP-7 Sand Walker & PIP-5 ‘Upgrade before Upgrade Height’ Quest all unanimously passed earlier this month. For more information regarding each proposal and the involved discussions, click on the above hyperlinks.

Proposals currently being discussed:

PUP-7: Whole Lotta Requests: With the Pocket’s user base growing, the DAO needs to set its price targets for requests. To ensure that the service is priced competitively and therefore maximize app user growth, we should ensure that the average price of a relay is $0.00048 and that this price is achieved by an app after 10 months of staking.

Per the DAO Constitution, the Pocket Network Foundation will be responsible for maintaining these price targets by adjusting the following on-chain parameters: BaseRelaysPerPOKT & StabilityAdjustment.

As the famed philosopher Robert Plant once sang: Blockchain infrastructure projects succeed when App Developers can afford a “whole lotta requests’’.

PUP-7 was drafted by Michael, Rich, Adam and Jack. We encourage you to read through all information provided by them thoroughly on our forum to participate in this proposal conversation.

📰 News 

wPOKT to launch through Alchemist's Copper Fair Launch Auction

As mentioned earlier in this newsletter, the wPOKT farming application has been built by Raid Guild and is ready to go as soon as we’re closer to the wPOKT <> POKT bridge launch.

It looks amazing with such a sleek UI!  

Check out this $MIST <> $ETH example > Example

We’re excited to be using Alchemist’s Copper front-end to provide the most open, fair and user-friendly way for you to participate in our Balancer LBP.

Pocket Network with RockTree Capital: Accelerating Web 3.0 And Becoming A Decacorn

Michael joined RockTree Capital in a conference panel on Web 3.0. RockTree Capital made the recap available which you can now view at any time:

Crypto101 Podcast Episodes

This month, Michael sat down with Crypto101 to talk decentralization, Web3 and Pocket Network. There’s one episode in particular in which some very important points were made, namely: Why is decentralized infrastructure so important? What happens when a network doesn’t have enough nodes? How does POKT fix that?

We’d highly encourage anyone in the blockchain industry to take a look at the different networks around us. How decentralized are they really if the majority of nodes are hosted at one or a few centralized third parties?

If you’re reading this as a node provider for other projects, or as a project looking to decentralize further. Feel free to reach out to us and join our community, we’d be happy to onboard you on web3 decentralized infra!

🐦 Wall of Tweets and Memes 

Twitter avatar for @Fiskantes🃏Fiskantes 1(Ω, 三)7 @Fiskantes
Anon, may I grab a little bit of your attention? @POKTnetwork - I have already spent considerable energy explaining why it is good (read
insights.deribit.com/market-researc…) Now it FINALLY comes to Ethereum with $WPOKT, farms by @RaidGuild and LBP with assistance of @_alchemistcoin Copper

Pocket Network @POKTnetwork

Tying A Bow On $wPOKT: a status update In our latest article, we explain why we pushed back launch of $wpokt for a smoother launch and an awesome experience for all our new regen farmers. Check it out here: https://t.co/pDsSr9zQL4
Twitter avatar for @nigeldollentasNigel Dollentas🧞‍♂️ @nigeldollentas
You and @VitalikButerin should take a look at what we've done at @POKTnetwork then ;) It's actually very easy to connect to a Pocket endpoint, check out the video team member @DisruptBanksy made: Decentralize Metamask with $POKT in under 30 seconds:
bit.ly/DecentralizeMe…

Preston Pysh @PrestonPysh

full node on Ethereum, it's not straightforward. As Vitalik says, “Like, I, for example, am definitely unhappy with the fact you know that Metamask for example is just a client that directly talks to Infura, but whatever.” Many people in the ETH crowd will tell you that a 3/

🌉Connect with Pocket: 

👾 Visit the Pocket Network Website and wPOKT website

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

🛰️ Sign up for the 1M Relay waitlist

♻️ Learn more about wPOKT

📡 Weekly Relay Recap #27 🛰️

Over the last week between 05/20 to 05/26, the Pocket Network protocol has successfully relayed over 40.6M application requests and settled at 4,772 nodes.

Weekly Relay Recap

04/29 to 05/05: 38,169,844

05/06 to 05/12: 39,308,148

05/13 to 05/19: 31,136,505

05/20 to 05/26: 40,610,186

For the week of 05/20 to 05/26, the average successful relays per day were ~5.80M. The highest number of daily research was on May 24th, with over 6.72M relays.

This past week, 40.6M successful relays were processed. Nodes minted a ~406k POKT during this timeframe, ~361.43k POKT going to the service nodes, ~40.6k POKT going to the Pocket DAO, and ~4.06k POKT going to block producers.

Total Successful Relays from 04/29 to 05/26: 149,224,683

AVG Successful Relays Per Day  04/29 to 05/26: 5,329,452

AVG Successful Relays Per Week 04/29 to 05/26: 37,306,170

Over the last four weeks, applications using the Pocket Gateway have driven a total of 149.2M successful requests 📡

In this timeframe, that means nodes have minted a bit over ~1.49M POKT, with 89% going to the service nodes (~1.32M POKT), 10% going to the Pocket DAO ( ~149k POKT), and 1% going to the block producers (~14.9k POKT).

Total Staked Nodes

4,772 (+239)

Analysis by Marco 👋 | @TMod_Marco

It’s great to see the number of successfully processed relays exceed the 40M mark again this past week! Fun fact: the average number of daily relays this past week was higher than the number of relays on any single day the week before. The past three days we even saw over 6M daily relays.

On top of that the number of total active validator nodes continues to grow. We’re close to 5,000 active validator nodes, a big & exciting milestone we’ll likely achieve next week! There is also over 270M POKT staked on these nodes at the moment, which is over 40% of the current total POKT supply!

Updates

Governance Updates

PUP-7: Whole Lotta Requests: With the Pocket’s user base growing, the DAO needs to set its price targets for requests. To ensure that the service is priced competitively and therefore maximize app user growth, we should ensure that the average price of a relay is $0.00048 and that this price is achieved by an app after 10 months of staking.

Per the DAO Constitution, the Pocket Network Foundation will be responsible for maintaining these price targets by adjusting the following on-chain parameters: BaseRelaysPerPOKT & StabilityAdjustment.

As the famed philosopher Robert Plant once sang: Blockchain infrastructure projects succeed when App Developers can afford a “whole lotta requests’’.

PUP-7 provides background info on why the DAO delegates price adjustments, why price targets aren’t set yet, an FAQ, implementation details and more relevant information.

We encourage you to read through the information thoroughly to participate in this proposal conversation, before the proposal activates and can be voted for by the DAO members.

Successfully passed proposals

As per WRR26, voting for proposal PEP-6 Node Pilot & A new deployment solution & The cancellation of PUP-4 & PIP-5: Add “Upgrade before Upgrade Height” Quest to POKT Arcade Node Path ended last week. All three proposals have successfully passed, meaning there’s a couple of implementations to happen next.

Here’s a brief summary of each proposal for you:

PEP-6 Node Pilot: The Node Pilot is Pocket's first Docker deployment tool that is actively being used by users of all technical levels. Node Pilot is free for everyone and has been self-funded by two Pocket community members. This proposal seeked to fund the Node Pilot with 161k POKT for further growth and development.

The cancellation of PUP-4: An exponential reward reduction curve was approved in PUP-4 which has the effect of reducing relay rewards to near zero as the number of validator nodes approaches 5,000. PUP-4: Adjust DAOAllocation to Limit Service Node Counts 7.

As a result of improvements in software and configuration which have occurred after the adoption of PUP-4, the current state of the peer-to-peer network is no longer in need of this drastic change in economic policy.

PIP-5: PIP-5 will make it easier for involved node operators to gain voting rights, by adding a Level 2 quest to upgrade your node before the DAO’s chosen upgrade height and make the evolution threshold 5/8 (currently 5/7).

News

POKT Community Dinner sponsored by Thunderhead OTC

We are excited to see the community forming its own meetups and to everyone thatreached out to us and will join us near the Miami BTC conference next week. We look forward to getting together IRL!

There’s still some last-minute spots available, if you’re interested then be sure to contact Addison on Telegram: https://t.me/thunderheadotc

For those that cannot join, don’t worry, we’ll surely be sharing photos and videos during the event so you don’t have to fully miss it!

Pocket Network Progress

We’re very thankful of the positive feedback and comments we’ve gotten on Pocket’s rebrand!

Our team is working hard on building the future of Web3, we’d recommend you to keep an eye on our social channels throughout the weeks as we make continued progress on wPOKT!

What can you do to drive relays and add nodes to the network?

App Side of the Marketplace

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 Ethereum mainnet endpoint through the custom rpc settings!

Try out any of these other apps listed in this forum post. 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

We are offering applications up to 1,000,000 requests per day as part of a limited free tier program. Please refer us to any blockchain apps/services that you want to be actually decentralized and truly resilient to single points of failure! 

If your application or service is interested in becoming a launch partner for the wPOKT farming program, register here

Node Side of the Marketplace

Don’t know how to run a node? Watch the Zero to Node videos above to learn how. 

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:

SubZero OTC

Thunderhead OTC

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.

Connect with Pocket: 

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

👾 Visit the Pocket Network Website

♻️ Learn more about wPOKT

📡 Weekly Relay Recap #26 🛰️

Over the last week between 05/13 to 05/19, the Pocket Network protocol has successfully relayed over 31.1M application requests and settled at 4,533 nodes.

Weekly Relay Recap

04/22 to 03/28: 34,005,895

04/29 to 05/05: 38,169,844

05/06 to 05/12: 39,308,148

05/13 to 05/19: 31,136,505

For the week of 05/13 to 05/19, the average successful relays per day were ~4.48M. The highest number of daily research was on May 13th, with over 5.48M relays.

This past week, 31.1M successful relays were processed. Nodes minted a ~311k POKT during this timeframe, ~276.79k POKT going to the service nodes, ~31.1k POKT going to the Pocket DAO, and ~3.11k POKT going to block producers.

Total Successful Relays from 04/22 to 05/19: 142,620,392

AVG Successful Relays Per Day  04/22 to 05/19: 5,093,585

AVG Successful Relays Per Week 04/22 to 05/19: 35,655,098

Over the last four weeks, applications using the Pocket Gateway have driven a total of 142.6M successful requests 📡

In this timeframe, that means nodes have minted a bit over ~1.42M POKT, with 89% going to the service nodes (~1.27M POKT), 10% going to the Pocket DAO ( ~142k POKT), and 1% going to the block producers (~14.2k POKT).

Total Staked Nodes

4,533 (+994)

Analysis by Marco 👋 | @TMod_Marco

This week we saw the number of successful relays decrease a bit versus last week. Though, the number of daily relays have been steady between 30-40M relays per week.

Much more interesting this week is the number of new active validator nodes that joined the Pocket Network. Close to 1,000 new nodes joined the network, an increase of 28% in a single week!

As we move forward, we also aim to provide you with as much information as possible. This includes adding new data points for you to reflect on and keep track of.

That said, as of this week, C0D3R provides an overview of how many nodes run on each version (RC-0.6.1, RC-0.6.3, etc.), how many validator nodes are jailed per category and an overview of node versions for staking power:

Updates

Tying a bow on wPOKT🎁

That’s right, a new wPOKT update has been released for you!

Throughout the past couple of weeks, we’ve kept you in the loop on wPOKT updates and shared various teasers. We’ve received incredibly valuable feedback from the community, which enabled us to further shape wPOKT.

At this time, the wPOKT farming app has been built by Raid Guild and is ready to go.

We’ll also be using the Alchemist copper front-end for the wPOKT LBP.

After listening to the requests of our community, the timing of the wPOKT farming launch has been reevaluated to coordinate it more closely with the timing of the wPOKT<>POKT bridge launch in Q3.

We encourage you to read through the full update for more information and teasers: https://medium.com/pocket-network/tying-a-bow-on-wpokt-28c13dbc8018

Governance

PEP-7 voting ended today, the proposal was unanimously accepted by the DAO. This means  the SkillZ team will be funded by the DAO (15,000 POKT) to further develop and host/maintain the Sand Walker reward explorer for POKT based on live blockchain data.

What are you waiting for? Start exploring already! https://sandwalker.sbrk.org/.

PIP-5 (Add “Upgrade before Upgrade Height” Quest to POKT Arcade Node Path) is now up for voting and ends in four days!

PIP-5 will make it easier for involved node operators to gain voting rights, by adding a Level 2 quest to upgrade your node before the DAO’s chosen upgrade height and make the evolution threshold 5/8 (currently 5/7). Read all about it on our forum and be sure to cast your vote!

Both voting for proposals PEP-6 Node Pilot - A new deployment solution & The cancellation of PUP-4 end today.

Both proposals PEP-6 - Node Pilot & the cancellation of PEP-4 have been unanimously approved by the DAO.

News

Web3 Infrastructure the Right Way. Decentralized.

As much as we loved our brand, we felt a refresh would enable us to really show what the future of Web3 should look like. And what an overhaul it is!

Our rebrand includes:

  • A fully new designed website, displaying statistics, our USPs (unique selling proposition), a clear call-to-action for DApps & node operators, our great partners and most importantly, the new website really displays our values and mission to coordinate open access to the world’s public data by empowering anyone to provide unstoppable infrastructure.

  • New documentation, enabling you to really dive into the protocol to learn how the protocol works at a much deeper level.

  • And, a new press kit has been made available, to enable anyone that’s here to help us to share Pocket Network with the world, to further kickstart a decentralized future.

    We’re looking forward to the road ahead of us and thank you for being a part of it!

POKT Community Dinner sponsored by Thunderhead OTC

We’d love to remind you of Thunderhead OTC sponsoring a dinner for Pocket community members near the Miami BTC conference in June. Attendees will get a POKT t-shirt!

There are 30 spots available. RSVP by messaging @thunderheadOTC on Telegram.
Price: 50 POKT.

Note: POKT must be deposited prior to May 23 to confirm final headcount with the restaurant, this means you have two more days to do so!

Are you ready to set the new standard of Web3 Infra? We are!

What can you do to drive relays and add nodes to the network?

App Side of the Marketplace

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 Ethereum mainnet endpoint through the custom rpc settings!

Try out any of these other apps listed in this forum post. 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

We are offering applications up to 1,000,000 requests per day as part of a limited free tier program. Please refer us to any blockchain apps/services that you want to be actually decentralized and truly resilient to single points of failure! 

If your application or service is interested in becoming a launch partner for the wPOKT farming program, register here

Node Side of the Marketplace

Don’t know how to run a node? Watch the Zero to Node videos above to learn how. 

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:

SubZero OTC

Thunderhead OTC

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.

Connect with Pocket: 

🦜 Follow Pocket on Twitter at @POKTnetwork

💬 Chat with the Pocket team and community in Discord

👾 Visit the Pocket Network Website

♻️ Learn more about wPOKT

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