📡 Weekly Relay Recap #27 🛰️
📡 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:
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