📡 Weekly Relay Recap #19 🛰️
Over the last week between 03/18 to 03/24, the Pocket Network protocol has successfully relayed over 69.6M application requests and settled at 3,395 nodes.
Weekly Relay Recap
02/25 to 03/03: 33,180,484
03/04 to 03/10: 35,309,143
03/11 to 03/17: 42,644,136
03/18 to 03/24: 69,666,560
Note: We’ve decided to pull data from C0D3R instead of Grafana. It’s more accurate, but only counts successful relays, which is a better metric. The numbers have been updated to reflect this change. You might notice that the relays from 02/25 to 03/17 are different that previous weekly relay recaps.
For the week of 03/18 to 03/24, the average successful relays per day were ~9.95M. With a massive spike on Saturday, March 20, with 11.7M relays processed on a single day!
This past week, 69.6M successful relays were processed. Nodes minted a ~696k POKT during this timeframe, ~619k POKT going to the service nodes, ~69.6k POKT going to the Pocket DAO and ~6.96k POKT going to block producers.
Total Successful Relays from 02/25 to 03/24: 180,800,323
AVG Successful Relays Per Day 02/25 to 03/24: 6,457,154.39
AVG Successful Relays Per Week 02/25 to 03/24: 45,200,080.75
Over the last four weeks, applications using the Pocket Gateway have driven a total of 170.5M successful requests 📡
In this timeframe, that means nodes have minted a bit over ~1.71M POKT, with 89% going to the service nodes (~1.52M POKT), 10% going to the Pocket DAO ( ~171k POKT), and 1% going to the block producers (~17.1k POKT).
Total Staked Nodes
3,395 (+663)
Analysis by Marco 👋 | @TMod_Marco
As mentioned, this weekly update is different from other ones. As we’ll be using C0D3R from now on instead of Grafana.
Immediately standing out to me this week is the spike towards >10M processed relays on Saturday, March 20th.
In the meantime, the number of active validor nodes continues to grow. As we broke the 3,000 nodes mark, there’s over 138M POKT staked on active validor nodes at the moment of writing! This means an average of 42.7K POKT staked per node. In total, 315.5M POKT is staked throughout the network at the time of writing this newsletter.
Updates
We’d like to remind you of two major proposals that can be voted on by the community right now. These two proposals are: PUP-4 and PEP-5.
PUP-4: Adjust DAOAllocation to Limit Service Node Counts.
To maintain network reliability as we approach 5,000 nodes, the proposal votes aims to re-allocate servicer rewards to the DAO, to limit the incentives of spinning up new nodes beyond 5,000. This is done to prevent P2P scalability from affecting reliability of service.
Read through the full proposal and discussion here.
PEP-5: Allocate POKT from the DAO Treasury to Launch/Support the wPOKT Program.
As Pocket Network relies on the growth of relays to grow the ecosystem, it requires a way to scale its application outreach without drastically scaling the size of its team. Due to the prevalence and wide adoption of farming programs, the proposal was created to create a mutually beneficial farming program powered by wPOKT rewards. This program is designed to incentivize users to stake on behalf of applications providing “free” infrastructure to applications, in turn, encouraging widespread adoption of Pocket Network by Web3 Apps. Additionally, wPOKT will provide a second on/off ramp for node operators in addition to the existing OTC.
Read through the full proposal and discussion here.
News
Infrastructure LEGO. Pocket Network was displayed as a case study on middleware services. The middleware thesis by Matti of Zee Prime Capital connects the macro to the micro perspective, to look for the middle ground. Looking at the current developments around DeFi, it’s stated that DeFi applications have run ahead of the infrastructure, requiring infrastructure to catch up in order to further accelerate growth and new features.
‘’Middleware helps developers build applications more efficiently. It acts like the connective tissue between applications, data, and users.’’
Oracles have been the first major infrastructure providers. Now, others (other types) will follow. Pocket Network is a key middleware that will span different chains. As we’re heading further into a transition of finance from centralized to decentralized, the actual underlying infrastructure has to remain decentralized. This is exactly what POKT can enable.
If you’re interested in reading the full thesis, we recommend you to check it out at: https://bit.ly/InfraLego_MiddlewareThesis.
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!
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 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