Covalent (CQT) Feed: Events, News & Roadmap

What is Covalent?

Covalent is a project that uses big-data technologies to extract meaning from numerous data points, providing actionable insights to investors and developers. It is designed to help developers focus on more valuable goals within their organizations by delivering comprehensive and actionable data.

Covalent operates by aggregating data from multiple sources such as nodes, chains, and data feeds, rather than relying on data from only a few chains. The Covalent API provides tailored data to end-users based on individual wallets, offering insights into both current and historical performance across various digital assets. This data is delivered swiftly and consistently through a single API interface, ensuring that users have access to all relevant information efficiently.

CQT is the native token of the Covalent Network and serves three primary functions. As a governance token, CQT allows holders to vote on proposals affecting the network’s parameters. It is also used for staking, with validators earning fees for processing queries. Additionally, CQT acts as a network access token, used to fulfill data queries for users of the Covalent API. This system facilitates a progressive decentralization, aiming to transition the ownership and operation of the Covalent Network to its users.