Covalent (CQT), the home for “all things Web3 data,” introduces an exciting prospect for $CQT stakers – future and retroactive ecosystem partner airdrops. This initiative aims to recognize and reward the support of $CQT stakers for contributing to the largest set of cryptographically secured structured on-chain data in Web3.
By crowdsourcing the largest on-chain data layer of Web3, Covalent empowers millions of users to participate in the emerging economies of AI, data availability, DeFi, NFT, gaming, and social products. As a significant step forward, the debut ecosystem partner airdrop will soon be distributed among $CQT stakers. With over 225 blockchains integrated and indexed and enriching over 240 million wallets with its data, Covalent powers a multitude of opportunities for those engaging with its Network.
Driving Value to the Network
Covalent Network value has historically been driven solely by customer demand for Covalent products (Unified API, Increment, GoldRush), with a missing tangible link between the number of blockchains indexed and the flow of value.
As new layer-1 and layer-2 blockchains coming to market iterate and improve on token distribution methods like airdrops, $CQT stakers and network operators stand to directly benefit from the support Covalent provides blockchain foundations.
Covalent’s Inclusive Approach to Community Rewards
Covalent’s approach involves the distribution of tokens from select new and existing partner projects directly to $CQT token holders who have participated in the network by staking their assets. This strengthens the bond with the community and provides an additional layer of utility and value for participants.
The future and retroactive ecosystem partner airdrop program showcases a diverse array of innovative blockchain projects supported by Covalent. This ecosystem approach aligns with Covalent’s commitment to inclusivity, actively involving the community in the ongoing growth and success of Covalent. It brings existing partner communities closer to Covalent’s community, and as new and exciting projects join the Covalent ecosystem, $CQT stakerscan anticipate their support being recognized through this initiative.
Ecosystem Incentive Drop Distribution & Timing
In an effort to address concerns regarding distribution, Covalent is introducing a unique eligibility structure based on quartile analysis and staking duration. This structure categorizes holders into four bands, determined by the length of staked time, thereby promoting a more equitable distribution of rewards and acknowledging the loyalty of long-term supporters. More information will be made available on the announcement of the first drop.
How to Get Involved
To participate in the upcoming ecosystem incentive drops, individuals are required to become a $CQT staker. For those who have not already staked their $CQT, simply refer to the staking documentation for a step-by-step guide on how to join and begin earning additional utility and value through these partner airdrops.
By encompassing applicable new indexing deals, retrospectively considering prior deals, implementing eligibility tiers, and involving diverse projects, Covalent unlocks a tremendous amount of community support to help grow the network.
About Covalent
Covalent (CQT) is the home for Web3 data, enabling millions of users to build the new economy of products in AI, Big Data, and DeFi. Its deep commitment to democratizing access to structured data is delivered through a singular Unified API for everyone. A core aspect of the DePIN ecosystem, Covalent serves developers, analysts, innovators, and1000’s of customers with comprehensive, real-time data access to +225 blockchains & growing. Learn how Covalent is building the long-term data availability ‘Ethereum Wayback Machine’.
For more information, check out Covalent’s Twitter/X
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