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Pocket Network Sells $9.3M of its protocol token $POKT to developers and node operatos

Pocket Network Sells $9.3M of its protocol token $POKT to developers and node operatos

Since Pocket’s mainnet launch, node operators have generated 10M POKT in network revenue that has been distributed by the protocol among nodes, block producers, and the Pocket DAO.

After several months of keeping this news under wraps, we’re excited to finally share the story:

After 6 months, we concluded our public sale in January totaling $9.3M with strategic purchasers including Blockchain.com, Eden Block, DACM, and over 200 other node runners to power decentralized data infrastructure for Web 3.0 applications.

In 2017, we began writing the first smart contracts for Pocket Network. After years of iteration, we launched Pocket Network on July 28th, 2020 as an independent, application-specific blockchain. Today it is a thriving ecosystem with over 3,600 nodes around the world supporting millions of daily requests for production web3 applications.

Throughout the years, the vision for Pocket Network has remained unchanged: To provide censorship-resistant full node infrastructure for web3. This is an ambitious undertaking, but we have made significant strides to that end.

While we are just scratching the surface, we believe that web3 will be touching millions, and eventually billions of users around the world over the next decade providing ample room for Pocket to grow. With this growth and the thousands of protocols increasingly becoming interconnected, the needs for open blockchain data are going to exponentially increase from here.

The global need for data safe from centralized parties will become ever larger as the ecosystem expands and Pocket Network provides a more efficient, decentralized and more private alternative than the options available today.

Our first public sale added an incredible set of believers and users within the Pocket ecosystem, with some of the best minds in the world able to contribute to running nodes and participating in the Pocket DAO.

This mainnet sale was public for anyone to purchase POKT and run apps and nodes within the network. We are incredibly proud of the diversity and interest among the participants in the network, and believe that we have laid the foundation for a secure and robust ecosystem moving forward.

Some data since we launched on July 28, 2020:

  • Over 200 individuals purchased POKT to run nodes in the network increasing our node count by over a factor of 15x
  • Over >1B successful requests served for production applications on Ethereum
  • $219.47M Total Locked Value in Staked POKT by apps and nodes
  • Over 3,600 nodes from all around the world
  • 10M POKT in network revenue minted by Pocket node runners
  • 11 Pocket DAO voters
  • 10 Pocket DAO proposals passed
  • 18 blockchain mainnets and testnets supported

Our mission is to become the default censorship-resistant node infrastructure layer for the multi-chain web3 ecosystem. For the first time, developers now can have stronger guarantees on resiliency and uptime for the infrastructure we use every day. All this without compromising on trusting third parties to retrieve this data. Applications interested in leveraging Pocket Network as a decentralized blockchain network service provider are eligible to purchase POKT and gain early access to our new dashboard by signing up here.

Thank you for all the support,

Michael O’Rourke

Pocket Network

Connect any App, to any Blockchain, from any Device.Following