GnosisDAO to support Covalent as initially mentioned in GIP-16
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GIP: 85
title: GnosisDAO to support Covalent as initially mentioned in GIP 16
author: Ryan Coree @coreeryan & David Tso @davidtsocy
status: Draft
type: Funding
created: 2023-04-19
funding: 50,000 USD
Dear GnosisDAO,
Covalent is a hosted blockchain data solution providing access to full historical and current onchain data for 100+ supported chains, including Ethereum, Polygon, Arbitrum, Optimism, Base, Linea, Scroll, Avalanche, Fantom, and more.
Covalent Offers 2 Products
- Unified API: Covalent’s industry-leading Unified API is the most robust set of API services available on the market today. Our Unified API returns enriched blockchain data applicable to all blockchain networks, e.g. token balances, transactions, log events, etc., enabling developers to build wallet applications like Rainbow Wallet, NFT galleries like NFTX, investor dashboards like CoinGecko, and taxation tools like Rotki. Over 3,000 applications and 35,000 active developers today rely on our Unified API, powering half a billion monthly API calls.
- Increment: Increment is a Business Intelligence (BI) platform that empowers blockchain-based projects to understand their business metrics. Built on our Unified API, Increment has the full historical data set for over 100 chains. Increment is imbued with a standardized analytics framework – Reach (for growing a user base), Retention (for retaining a user base), and Revenue (for monetizing a user base). Increment also contains many more label tables for NFTs and DeFi.
Proposal
- As previously proposed in GIP 16 - Gnosis Chain - xDAI/Gnosis merge by Martin Köppelmann, the Co-Founder of Gnosis: “Gnosis Chain will look to attract core Ethereum infrastructure projects that are currently unavailable on the xDai chain. Gnosis Chain will cover the costs associated with such deployments. Examples include Etherscan, Beaconcha.in, Infura, Alchemy, Covalent…”
- Covalent will index Gnosis and integrate it with our Unified API and Increment for a compensation of 50,000 USD, this will benefit developers and analysts who want to access Gnosis’ data.
- Covalent will also create custom documentation for Gnosis and run a technical webinar for the Gnosis community to onboard more developers and kickstart novel use cases.
Covalent Deliverables
- Index Gnosis’ public blockchain and support it through our Unified API and Increment
- Dedicated documentation page for developers
- Prominent Gnosis logo on Covalent’s website
- Emails and relevant notifications to Covalent’s user base
- Promotion of launch across social media handles, Discord groups, Telegram, etc.
Gnosis Deliverables
- Vote for governance proposal
- A joint social media announcement post-integration
- Inclusion of Covalent’s logo in Gnosis’ marketing materials, website, and documentation
The end date will be one year from the agreement’s effective date. The agreement may be extended based on mutual discussions between relevant parties.
Grant and Disbursement
- The amount to be funded from the GnosisDAO treasury to Covalent is 50,000 USD of Gnosis’ xDai native token. Once the governance proposal is approved, the payment will be processed as one single transfer.
- The xDai/USD exchange rate for the disbursements is to be determined at the time of the transfer.
Testimonials
“So far, Covalent has significantly enhanced the developer experience on Fantom via their Unified API. It will no doubt be a staple in how users access blockchain data.”
– Michael Kong, CEO at Fantom
“Decentralized applications and services need fast and reliable access to backend data to deliver seamless experiences competitive with Web 2.0. With its Unified API for data across multiple chains, Covalent is well-positioned to support the march toward mass adoption of Web3.”
– John Nahas, SVP of Business Development at Avalanche
“Broader Web3 adoption requires great application UX and performant access to backend data, but these have historically been constrained by what the direct node RPCs are able to offer. Covalent’s unique approach not only delivers performance but also access to an enriched multi-chain data set via their Unified API. It’s a great fit for Moonbeam developers looking to create next-generation multi-chain applications.”
– Derek Yoo, CEO at Moonbeam
Conclusion
The Covalent team hopes that the GnosisDAO can see the value of this partnership and pledge their support. Thank you!