📡 Weekly Relay Recap #25 🛰️
Over the last week between 05/06 to 05/12, the Pocket Network protocol has successfully relayed over 39.3M application requests and settled at 3,539 nodes.
Weekly Relay Recap
04/15 to 04/21: 33,751,554
04/22 to 03/28: 34,005,895
04/29 to 05/05: 38,169,844
05/06 to 05/12: 39,308,148
For the week of 05/06 to 05/12, the average successful relays per day were ~5.61M. The highest number of daily research was on May 8th, with over 6.07M relays.
This past week, 39.3M successful relays were processed. Nodes minted a ~393k POKT during this timeframe, ~349.8k POKT going to the service nodes, ~39.3 POKT going to the Pocket DAO, and ~3.93k POKT going to block producers.
Total Successful Relays from 04/15 to 05/12: 145,235,441
AVG Successful Relays Per Day 04/15 to 05/12: 5,186,980
AVG Successful Relays Per Week 04/15 to 05/12: 36,308,860
Over the last four weeks, applications using the Pocket Gateway have driven a total of 145.2M successful requests 📡
In this timeframe, that means nodes have minted a bit over ~1.45M POKT, with 89% going to the service nodes (~1.29M POKT), 10% going to the Pocket DAO ( ~145k POKT), and 1% going to the block producers (~14.5k POKT).
Total Staked Nodes
Analysis by Marco 👋 | @TMod_Marco
This week we saw the number of successful relays increase by 2.98%, whereas nodes increased by 1.98%. These are relatively small numbers compared to the previous weeks, however, it’s still an uptrend which is the goal.
As the number of relays continue to grow faster than the number of total active validator nodes, the earned rewards per node continue to increase slightly (remains to close to 13 POKT/day over the course of the past 30 days).
The number of jailed validator nodes decreased by over 10%. A positive and healthy sign.
Last week you read all about the upcoming launch of wPOKT, and how we forked Ampleforth’s contract to build a micro-economy that enables DApp end-users to get more involved in the web3 ecosystem. Enabling users to crowdsource infrastructure access on behalf of their favorite applications while earning a wPOKT yield - labeled as: Regenerative Finance.
What does this mean? Simple! Community members can cover projects’ infrastructure costs together! Here’s a sneak peak for you:
This week, we want to dive into this even further by providing insights into how wPOKT and POKT interact with the ecosystem.
In short, 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.
It’s a win-win-win scenario for all parties involved:
Farmers earn rewards for staking wPOKT on behalf of applications in a farm.
Applications get crowdsourced free infrastructure. As they consume their daily allotted network bandwidth, they drive relays (blockchain data requests) to the underlying network.
As relays are driven to the Pocket Network protocol, node operators serve and validate those application requests to earn POKT.
It’s a continuous (growth) loop where more value for the ecosystem is created, attracting more nodes, increasing decentralization, which attracts more applications to the network.
If this excites you as much as it excites us, then definitely check out our latest blog post!
For wPOKT specific updates and alerts, sign up at https://bit.ly/WrappedPOKT.
Have you read through the PEP-7 proposal discussion on our forum yet? We encourage you to read through it and participate!
In PEP-7, the SkillZ team requests the community and the DAO to fund the development and hosting of the Sand Walker (15,000 POKT), a reward explorer for POKT based on live blockchain data.
Mainnet Upgrade - 0.6.3 Bonus Feature - Update Stake
Last week, Jack published ‘Mainnet Upgrade – 0.6.3 Bonus Feature – Update Stake’, in which you can read more about a 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) & editing your service url.
Learn more about how you can update your stake, the new process, FAQ, and more on our forum.
POKT Community Dinner sponsored by Thunderhead OTC
Thunderhead OTC is sponsoring a dinner for Pocket community members near the Miami BTC conference. Attendees will get a POKT t-shirt.
There’s 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.
Crypto 101 Podcast - Decentralization
In this podcast episode, Michael sits down to talk about decentralization. What happens when a network doesn’t have enough nodes? How does POKT fix that? And more…
Pocket Network with RockTree Capital: Accelerating Web 3.0 And Becoming A Decacorn
Michael joins RockTree Capital in a conference panel on Web 3.0. Interested in watching the recap? We’d definitely recommend it!
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:
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