📡 Weekly Relay Recap #18 🛰️
Over the last week between 03/04 to 03/10, the Pocket Network protocol has successfully relayed over 45.9M application requests and settled at 2,373 nodes.
Since the mainnet launch, Pocket Network node operators have served and validated over ~959M relays (API requests) from both Ethereum applications and native Pocket applications. This means it looks like we’ll be hitting the 1B relay milestone next week!
This has generated ~9.59M+ POKT in network revenue 🤯
Weekly Relay Recap
02/11 to 02/17: 51,452,093
02/18 to 02/24: 52,936,524
02/25 to 03/03: 62,639,876
03/04 to 03/10: 64,025,572
For the week of 03/03 to 03/10, the average total relays per day were ~7.94M.
This past week, 64.025M relays were processed. Nodes minted a ~645k POKT during this timefrime, ~574k POKT going to the service nodes, ~64.5k POKT going to the Pocket DAO and ~6.45k POKT going to block producers.
Over the last four weeks, applications using the Pocket Gateway have driven a total of 230.8M requests which equates to 874.25GB of data 📡
In this timeframe, that means nodes have minted a bit over ~2.31M POKT, with 89% going to the service nodes (~2.05M POKT), 10% going to the Pocket DAO ( ~231.0k POKT), and 1% going to the block producers (~23.1k POKT).
Total Relays from 02/11 to 03/10: 231,054,067
AVG Relays Per Day 02/11 to 03/10: 8,251,930
AVG Relays Per Week 02/11 to 03/10: 57,763,516
Total Staked Nodes
2,373 (+91)
Analysis by Marco 👋 | @TMod_Marco
We’re about a week away from validating a total of 1,000,000,000 relays! Really looking forward to this and would love to ask the community to celebrate with us once we reach the milestone. I know I certainly will on Twitter with #POKT #OneBillionRelayParty!
The number of weekly relays continues its exponential growth, it’s great to see a growth in both the number of relay requests and the number of nodes on the network. Most nodes are still running in North America, not expecting this to change anytime soon. Seeing small growth in the number of nodes ran in Germany and France. Total jailed validator nodes increased slightly compared to last week.
The relay success rate is a metric about relays serviced by the network (not client-side). The relay success rate of 72.00% is higher compared to last week’s 68.52%. However, we found the crux of the perceived low relay success rate: a throughput issue. An application using Pocket Network’s centralized Gateway service was going 2x to 3x over their relay limit. They were able to exceed this limit because of the fallback mechanism in place for the gateway, altruism nodes, which serve relays outside of Pocket Network’s protocol. It is meant to pick up error relays from misconfigured nodes, but in this case, it considered relays outside this application’s staked relay throughput as error relays. Essentially, taking advantage of a feature of the gateway designed to add an extra layer of resiliency and ensure applications maintain consistent service. To fix this issue, we simply increased their relay bandwidth by staking more POKT on their behalf and mapping additional Application Authentication Tokens (AATs) to their load-balanced RPC endpoint. By fixing this, it lifted our success rate by a significant amount. After 6 hours of observation, as reported on the evening of March 10th, the success rate rose to approximately 98%!
You may have guessed it, the extra throughput means more relays to serve for Pocket’s node runners, and therefore more POKT to earn. More AATs also mean more sessions, distributing work more evenly across the protocol, increasing the opportunities for nodes to serve application requests, and providing additional redundancy to the application as the number of nodes (5 nodes per session) scales with the number of AATs.
For a bigger picture of the network statistics and data straight from the tap, visit C0D3R - Pulse of the Pocket Network.
Current statistics show the average number of daily relays is 7,833,150 with an average of 22 POKT earned per validator per day over the course of the past 30 days. This is 22.3% higher compared to last week’s snapshot and 46% more POKT earned/day. The meter is a good indicator of the network growth we’re experiencing.
Updates
First, we’re excited to announce Nigel Dollentas joined the Pocket Network team as the new Meme Lord aka Marketing Manager. We’re looking forward to all he can do to help us get more exposure and network growth!
wPOKT is scheduled to launch in Q2 2021. wPOKT is an ERC-20 token backed 1:1 by native POKT used on Pocket Network’s own blockchain. wPOKT can interact with smart contracts on the Ethereum Network, offering various advantages, such as plugging into other money legos. wPOKT is going to be a lightweight token, significantly reducing gas fees in the current Ethereum Network gas climate.
Next to that, application end-users can soon crowdsource infrastructure access and participate in staking on behalf of their favorite DApps and be incentivized for this, by participating in our regen data farming program and earning a wPOKT yield.
This means there will be two ways to earn rewards on the network:
by staking POKT as a node runner, and
by staking wPOKT as a farmer - earning rewards while subsidizing relays for DApps, driving more relays to the protocol for nodes to serve.
Pretty much any chain and any application can be added to the program 🤯.
Check out https://bit.ly/WrappedPOKT for more information about this.
Chainstack joins Pocket Network as a trusted node provider to help build a more resilient Web3. This includes but is not limited to the support of developers and participants to use the Pocket Network, further accelerating growth.
As of today, anyone can become an independent node operator on Chainstack.
This includes using Chainstack for an Ethereum full-node that node runners can point to their pocket network node. Community members interested in running a node can also choose to use Chainstack’s low-code option to spin up a Pocket Network node via the Chainstack marketplace, this removes the need of having to run an Ethereum node yourself.
We encourage you to check out the press release for more information.
What can you do to drive relays and add nodes to the network?
App Side of the Marketplace
Use any of these apps listed in this forum post. You can also earn a skill 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 (DM me @disrubtbanksy on Twitter and/or Discord)!
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 the community-established OTC run by Subzero, which is the best way to buy or sell POKT and helps nodes cover the cost of their infrastructure. Join the private telegram channel (requires telegram) and message the admin to get started. Note that there are fees associated with the OTC 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 OTC.
Connect with Pocket:
🦜 Follow Pocket on Twitter at @POKTnetwork
💬 Chat with the Pocket team and community in Discord
🛰️ Sign up for the 1M Relay waitlist
👾 Visit the Pocket Network Website