KYVE's Q2 Leap: Unpacking 2024’s Latest Strategic Advances
In the second quarter of 2024, KYVE achieved key milestones, pushing the boundaries of innovation in the Web3 data space. Through impactful technological updates and strategic collaborations, KYVE has further expanded its ecosystem and overall capabilities, introducing innovative solutions and providing essential support for a growing number of data users and leading ecosystems.
Let’s break down what was accomplished this quarter in support of KYVE’s vision for 2024 and beyond.
Q2’s Main Partnerships & Collaborations
For Q2 2024, KYVE has continued to advance its mission to become the leading provider of historical data solutions for Web3 projects, aiming to set the industry standard with its trustless data approach. This quarter, KYVE has significantly expanded its network through several strategic partnerships and collaborations, strengthening its ecosystem and broadening its data support capabilities.
Strategic Partnership with EthStorage
KYVE and EthStorage have partnered to further enhance the Ethereum ecosystem data experience. By providing EthStorage as a storage provider option for data from EVM blockchains and dApps, KYVE will expand its tooling customizability and support more builders. Stay tuned for further news on this upcoming integration and partnership dedicated to enhancing
KYVE + SubQuery Making Decentralized Building Even Easier
KYVE and Syntropy have partnered together to introduce collaborative integrations that significantly improve the Web3 developer and validator data experience.
With SubQuery leveraging the KYVE protocol to streamline and expedite access to historical on-chain data of supported blockchains. This fully eliminates the cumbersome task of hunting down non-pruned or archived RPC providers for SubQuery and its community.
KYVE’s validator and developer community can also now benefit from SubQuery’s chain indexing integration for streamlined taxes, tailored APIs, and more! Read further into this strategic partnership and collaboration.
Supporting Warden Protocol’s Active Ecosystem
Warden Protocol, the modular L1 infra for omnichannel apps, has partnered with KYVE, aiming to leverage the KYVE protocol and tooling to ensure streamlined historical data access for its Buenavista testnet ecosystem and beyond.
As KYVE Network and Warden Protocol continue to integrate their technologies, the focus will remain on expanding these solutions to further enhance the efficiency and security of blockchain data management. Read further into this partnership.
Partnering with SOURCE Protocol to Support Enterprise Web3 Adoption
KYVE and SOURCE, dedicated to future-proofing businesses, have partnered up to merge reliable data with enterprise needs. This will leverage KYVE’s streamlined data solutions to support its historical chain data and growing ecosystem of enterprise-grade Web3 solutions.
This integration is already live and running on KYVE’s testnet! Enabling SOURCE developers and network participants to already leverage KYVE tooling such as KSYNC to reliably sync with the network, or Data Pipeline to work with SOURCE’s historical data. Look into SOURCE’s historical data via KYVE.
Latest Tech Developments
This quarter KYVE surpassed 50 million total transactions, with an average of 200k transactions per day, over 1.2M data bundles created, and 5.5TB of data validated and stored onto Arweave. In support of this activity, 1.7M $KYVE has been funded into the protocol and distributed to the well-behaved validators and their delegators.
All this to say, KYVE is continuously making an impact on the Web3 data space, providing a trustless backup of important blockchains.
Making Historical Data A Public Good
KYVE has officially archived and validated the following historical data, making it all a trustless public good for the interchain ecosystem to leverage via our streamlined data tooling:
- 2.3 TB of Osmosis
- 1.6 TB of Cronos
- 750 GB of Archway
- 605 GB of Cosmos Hub
- 540 GB of Axelar
- 380 GB of Celestia
- 105 GB of Noble
On testnet Kaon, strong progress is being made on the Ethereum integration in support of fast-growing L2s such as Arbitrum and Optimism, providing an essential solution to the Dencun update data storage challenges.
Introducing KYVE’s Trustless API
It’s known across the industry that it’s extremely difficult and resource-intensive to source reliable historical data, until now! Thanks to KYVE’s trustless API. This tool enables all to leverage KYVE trustless data, Merkle roots for integrity, minimize data loads, and ensure lightning-speed access, all via one unique tool.
This is impactful for building out an in-depth data dashboard without the need to run an archival node, enabling your dApp to provide reliable historical data comparison or analyses, or in general getting EVM data access for free instead of expensive API keys. KYVE’s Trustless API is up and running, live for anyone to test out on the current supported data sources. More support and features to come. Read further.
V1.5 Preparation
To further enhance blockchain and protocol capabilities, promote ecosystem expansion, and create new use cases for $KYVE, the v1.5 upgrade was introduced. Initially deployed on the devnet Korellia for thorough testing, this upgrade features CosmosSDK v0.50 and implements multi-coin funding, promising significant advancements.
Multi-coin funding will enable data pools to be funded with various tokens, thus facilitating a more collaborative experience for partners and ecosystems. These various tokens may come from direct funding from blockchains and their foundations, or via KYVE’s recent Public Goods Funding Program, which leverages rewards generated from a public good validator running on a partner chain to fund the corresponding data pool. More news on this to come as the upgrade is brought to mainnet.
The detailed proposal to bring this update onto Kaon, and then mainnet, is featured on KYVE’s governance forum here.
Updated Docs
KYVE’s updated documentation now better highlights KYVE’s game-changing tooling and resources for builders, node operators, delegators, and more. Ensuring a streamlined experience from start to finish, KYVE is dedicated to continuous improvement, including updating the docs with this new look, layout, and further resources.
KYVE’s Second Validator/Builder Call on Discord
It was great catching up in our latest Validator/Builder call. During the call, KYVE’s team covered a range of topics, including community programs, upcoming tooling, chain and protocol news, and more. Thank you to everyone who joined and participated!
If you missed the call, don’t worry. Our Validator/Builder calls are now recurring every first Thursday of the month at 3 PM UTC on KYVE’s official Discord. Be sure to join us for the next one!
Milestones Made Together
Building on this quarter's successes, with the incredible support from our community, KYVE has also brought forward:
- The KYVE Grants Program: Phase 0 launched in accordance with the KYVE DAO and Foundation on KYVE’s commonwealth governance forum. Six applications have already been received. Five of these have already gone through DAO voting.
- The Slash Indemnification Program supporting protocol validators and delegators from unnecessary slashes and drives needed activity on KYVE’s testnet Kaon. Round 1 elections are still ongoing, with only a few spots left.
Q2 Top KYVE Mentions:
- ICF Ecosystem blog & Interchain Jam X space
- KYVE’s Observatory Zone dashboard
- KYVE on Arbitrum’s Ecosystem page
- KYVE on Cosmobook.io
- KYVE mentioned supporting Bablyon in a Messari report
- KYVE on Interchain Info
Conferences:
KYVE’s team also attended a few conferences this quarter, such as Paris Blockchain Week, Token2049 Dubai, and Berlin Blockchain Week. In doing so, KYVE was able to further solidify its connections with our partners, users, and investors, as well as create new connections and opportunities for KYVE tech.
They were also great opportunities to brainstorm how else KYVE can support the ever-expanding Web3 ecosystem. Next quarter, look forward to meeting KYVE in person at other conferences, such as EthCC Brussels!
Looking Forward: Join The Next Community Call
As a new quarter begins, KYVE strives to continue enhancing its user experience and data support capabilities, expanding existing collaborations and bringing on new partners. New community programs are also in the works, not only to further support and incentivize the validator community, btu that of our delegators as well. KYVE also looks forward to seeing more advancements in the Grants Program and what initiatives come from it.
A lot went on in Q2, and there’s a lot more to come. Let’s talk about it! Stay tuned for our quarterly Community Call to go into the details of all this and share more on what to expect next from KYVE.
Blog Author: Margaux, KYVE Head of Marketing
