KYVE's Q3 2024: Driving Trustless Data Innovation and Expanding Ecosystem Impact
In Q3 2024, KYVE took major steps toward expansion by forging strategic partnerships and rolling out impactful updates aimed at making its data solutions more accessible to all users.
With initiatives like Public Goods Funding and collaborations across prominent ecosystems, KYVE is streamlining decentralized data management, empowering an ever-growing community of supported data users and blockchain networks. As more projects integrate KYVE's cutting-edge data tools, the platform is cementing its position as the leading hub for seamless, trustless historical data management and accessibility in Web3.
Let’s delve further into what KYVE and its network accomplished this quarter, in support of its vision for 2024 and beyond.
Q3’s Main Partnerships & Collaborations
With new strategic partnerships and innovative approaches, KYVE has expanded interoperability across ecosystems. Additionally, enhanced educational resources have been introduced to help users better understand and utilize KYVE’s powerful data tools.
KYVE Public Goods Funding Introduction
The KYVE Foundation, as the steward of the KYVE Network streamlining decentralized data storage and accessibility, has introduced its Public Goods Funding (PGF) initiative, which will be the first use case of multi-coin funding on the KYVE protocol. This initiative aims to empower blockchains with full decentralized historical data support while fostering a collaborative experience within their existing networks.
Already running on chains like SOURCE Protocol and Andromeda, KYVE looks forward to expanding PGF to more ecosystems, ensuring seamless data support for all of Web3.
Lava Partnership Update
KYVE’s testnet Kaon is now archiving and validating historical blockchain data from Lava Network! After thorough testing, this integration can be proposed for mainnet deployment, providing Lava and its expanding ecosystem with a trustless data backup of the entire chain.
KYVE’s tools, such as KSYNC, will simplify onboarding for new validators, while the Data Pipeline will offer enhanced capabilities for in-depth chain analysis and more. Stay tuned for more updates, this is just one of the many ways these two data solutions can support each other.
Strategic Partnership with Andromeda
KYVE is thrilled to kick off a strategic partnership with Andromeda, the first all-on-chain and multi-chain suite of products, tools, and utilities enabled by a decentralized Operating System.
With this integration collaboration and other data-focused initiatives, KYVE looks forward to supporting Andromeda in making Web3 easier, better, and faster. Want to know more?
Introducing KYVE’s Trustless Data Stories, a Testimonial Series
KYVE is thrilled to introduce its new testimonial series, “Trustless Data Stories.” This series showcases the power of KYVE's data solutions through the experiences of KYVE partners, users, and investors, one chapter at a time. Two have been released, and many more are to come!
➡️ Chapter 1: Crosnest, one of KYVE’s most active validators and users.
➡️ Chapter 2: Osmosis, one of KYVE’s most active data tooling users:
KYVE’s Dev Workshop with ZetaChain
From syncing to any historical height to reliable indexing, free unlimited querying, and more, KYVE’s latest Dev Workshop on ZetaChain’s Disocrd showed users how to unlock the full potential of their chain’s historical data. This demo helped further ease the developer onboarding experience with KYVE tooling.
KYVE’s Dev Workshop with dYdX
KYVE also was invited to provide in-depth demos on how to sync and build with dYdX's historical chain data, making the data an easily accessible trustless public good by KYVE.
Latest Tech Developments
This quarter KYVE hit 70 million total transactions, with an average of 180k transactions per day, over 1.8M data bundles created, and 7.4TB of data validated and archived onto Arweave.
In support of this activity, 2.4M $KYVE has been funded into the protocol and distributed to the well-behaved validators and their delegators.
All this to say, KYVE is constantly proving its impact in the Web3 data space, ensuring that it can support as much historical chain data as possible to aid chain scalability and ecosystem development.
Making Historical Chain Data A Trustless Public Good
KYVE has officially archived and validated the following historical blockchain data, making it all a trustless public good for the interchain ecosystem to leverage via KYVE’s streamlined data tooling:
This data includes blocks, block results, and state snapshots which enable data users to access all the data they need to recreate the entire chain, retrace previous transactions or trends, or perform other analyses.
On testnet Kaon, KYVE has archived and validated over 500GB of dYdX data and 1.5TB of ZetaChain data, supporting their ecosystems and enabling them to test out KYVE tooling in wait for mainnet support. Progress has also been 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.
V1.5: Introducing Multi-Coin Data Pool Funding & Other Protocol Enhancements
As KYVE continues to extend its data solutions to new ecosystems, more use cases and user opportunities arise. As a positive step in KYVE’s journey to revolutionize decentralized data management and accessibility, KYVE has upgraded to v1.5, enabling multi-coin data pool funding, protocol optimization, and more.
This upgrade has unlocked a new era for KYVE, allowing funders to fund data pools in multiple different tokens, providing the corresponding validators and delegators with rewards in $KYVE and other tokens (Disclaimer: Please note, that this comes with corresponding token risks). Overall, this enables an even more collaborative experience for partner ecosystems and lays down a strong foundation to make the web app the hub for all things KYVE. Get all the details.
An Update on KYVE’s Trustless API
KYVE’s Trustless API tool is progressing, with a newly updated schema to allow users to choose whether they want the data to be trustless or not. This provides an even faster experience if trustlessness isn’t a priority for them.
You can also already start querying Celestia and Ethereum data today by visiting the data services page here. Also, another thread has been published around more use cases with this tool, truly displaying its game-changing capabilities for developers. Stay tuned for more in-depth documentation and demos around this exciting, free data tool.
KSYNC
KSYNC has also seen advancements, acquiring more and more daily users and supporting more chain datasets made trustless by KYVE. It was recently calculated that KSYNC has so far saved node operators 66 days of chain syncing time, which is huge for their overall experience, not to mention, it’s trustless and free! To further spread awareness and understanding of the tool, KYVE published an in-depth KSYNC article detailing its impactful use cases.
To highlight these advancements, KYVE, the Osmosis Support Team, Lavender Five, and Crosnest took to an X Space to chat about the overall node operating experience and how KYVE and KSYNC are significantly impacting their daily operations. Weren’t able to join? Listen to the replay.
Key takeaways from the X Space:
“It’s becoming more of an issue with these chains becoming more mature. […] You just can’t find that data anywhere [...] From the sounds of it, I can cover anything I couldn’t have done before by using KYVE and its tools.” – Max Power, Contributor to Osmosis Support Labs
“Whenever a client of ours needs an archival node or a specific period of data, it’s a lot easier to refer them to KYVE […] Running an archival node, you cannot have a window in the past, you need it to be live and running. But using KYVE, you can literally have that window in the past without any issues.” – Ertemann, Chief of Staff at Lavender Five
“We are using KSYNC often to reset nodes over time instead of using snapshots from a provider, we can reset our node to a given state - especially on IBC nodes, we need to keep a lot of history […] it’s useful to have a source that we can trust to reset our nodes and get back to operating quickly.” – David, CTO at Crosnest
KYVE’s Latest Validator/Builder Calls
This quarter’s calls, #3, #4, and #5, provided updates on current and upcoming developments, as well as an open space for you to share feedback, and questions, and get further support. With the most recent ones hosting brainstorming sessions around how to enhance the overall experience on KYVE and its two layers.
Watch the latest call, which introduces some new ideas on how KYVE can further enhance its protocol economics…
Milestones Made Together
Building on this quarter's milestones, with the incredible support from the community, KYVE has also brought forward:
- KYVE Grants Program, Phase 0 complete: After over 100 days live, Phase 0 of the KYVE Grants Program is now closed! Resulting in 17,000 USDC and 50,000 in $KYVE total grants given out. This initial phase has demonstrated the value of community-driven innovation and really set the stage for the KYVE Grants Program as a whole. A big thanks to all who participated, stay tuned for the upcoming Phase 1!
- The Slash Indemnification Program supports protocol validators and delegators from unnecessary slashes and drives needed activity on KYVE’s testnet Kaon. Round 1 elections are almost complete, with only a few slots left!
- The official KYVE blog is live and featured on the KYVE website and web app newsfeed. This transition from publishing on Medium to KYVE’s own platform marks a significant milestone, as it reflects KYVE’s growth and ability to offer an even more personalized and enriched experience for readers.
Q3 Top KYVE Mentions:
- SOURCE docs mention KYVE’s KSYNC to sync to their network
- WAGMI News covered KYVE in their latest deep-dive article
- Le Journal Du Coin published a thread on KYVE’s v1.5 upgrade for KYVE’s French community
- Four Pillars published their 1st research article funded by a KYVE grant, exploring KYVE's impact on Web3, as well as their 2d report on KYVE’s data ecosystem and a full project report as well, completing all their grant milestones;
- You can now find KYVE’s KSYNC tool in Cronos docs
- Andromeda x KYVE partnership X Space
- Commonwealth’s Podcast Episode featuring KYVE Grants Program
- Blockchain Addict, French media interviewed Paul, KYVE’s Head of Ecosystem and published an article on KYVE’s data support for Celestia
- Journal du Coin’s article on KYVE’s data support expanding into the EVM space;
- Osmosis’ response on KYVE’s data support for their ecosystem;
- Lava CTO’s excitement around KYVE x Lava’s expanding partnership;
- WAGMI data pipeline thread on its updated structure.
Conferences:
Ethcc Brussels: Far more than just a conference, EthCC was a dynamic convergence of visionary minds, groundbreaking projects, and forward-thinking discussions, amplified by over 100 engaging side events. The week was a great success, gaining invaluable feedback and forging new connections, further demonstrating KYVE's growing impact on the crypto space. Read KYVE’s main highlights.
Token2049 Singapore: KYVE also took to Singapore to further strengthen relations by networking and joining in on all the impressive and innovative get-togethers and events.
KYVE also had the pleasure of co-hosting an exclusive event with dYdX, WorldChain, and Kronos Research, which brought together thought leaders in the space to discuss the future of blockchain technology. During this event, Four Pillars was able to distribute their long-form report on KYVE, further spreading awareness of KYVE’s tech and impact.
Looking Forward: Join KYVE’s Next Community Call
With Q3 2024 coming to a close, KYVE continues its momentum, expanding strategic partnerships and enhancing its role as the decentralized data hub for Web3. This was a lot to cover!
Let’s talk about it all in KYVE’s upcoming Quarterly Community Call on X this Thursday (Oct 24th) at 2pm UTC. Be sure to set a reminder, join in, bring your questions, and be ready for some sneak peeks into what’s next for KYVE!
And remember, with KYVE, every blockchain has the choice of off-boarding its historical data management to scale while still providing a trustless backup of its chain that its ecosystem ever-so needs. Simply start your data journey with KYVE today.
Blog Author: Margaux, KYVE Head of Marketing
