Thanks to the devs from the Omen squad, DXdao has been exploring a decentralized blockchain API from Pocket Network. It provides:
a permissionless two-sided market between node providers who run full nodes, and dapps that query data from blockchains for their services
routing requests through decentralized relay infrastructure of thousands of independent full nodes, designed to connect any app to any blockchain
The trustless API from Pocket Network also helps avoid:
deploying to a single centralized service provider
paying high fees
risking random outages
risking leaked data
It is currently available on major networks like Ethereum’s mainnet, xDai chain, Arweave, Algorand, Polygon, Solana, Fuse, Avalanche, BinanceSmartChain… and soon Arbitrum.
DXdao does not currently use Pocket Network as default infrastructure for any of its dapps, but it believes in full-stack decentralization, so a strategic collaboration can bring benefits for the DAO, Pocket Network, and the whole DeFi ecosystem.
DXdao is the perfect candidate to further the adoption of decentralized infrastructure by adopting Pocket Network for its own multi-chain suite /where applicable/ - Omen, Swapr, Carrot, DXvote, Mesa. As DXdao’s portfolio of products grows and its user base along with it, the amount of usage of Pocket Network will increase as well, which brings synergistic benefits.
Pocket Network’s economy requires both developers and nodes to stake its native utility token POKT, in order to participate in the network. A token swap would allow DXdao to own its cost-effective infrastructure, stake POKT tokens and help secure long-term runway and much needed throughput for all its dApps.
Adopting Pocket Network as the default RPC for all DXdao products helps bootstrap the protocol by driving more relays to it network, while also decentralizing counterparty risk and ensuring an uninterrupted secure service for DXdao dApp users. It is recommended that DXdao partners with Pocket Network’s DAO by swapping 50’000 POKT for the equivalent value in DXD tokens.
As the POKT token currently lives on Pocket Network, DXdao could either have a dev multisig in custody of the tokens /short-term/, or wait until the token gets wrapped as an ERC-20 wPOKT /backed 1:1 by POKT/ and bridged to Ethereum mainnet /by the end of the year/, so it can be sent to DXdao’s treasury. If the second option is chosen, until that happens, Pocket Network is happy to sponsor DXdao’s traffic on Pocket for any chain they support, until the token swap can be done trustlessly.
Pocket Network is also working on a novel program for increasing throughput to bootstrap the protocol by incentivizing supporters, called Data Farming or Relay Farming. It will enable dApp users to buy wPOKT and earn rewards for staking it while securing infrastructure on behalf of their favorite applications. Users will be earning yield for spreading the word and helping onboard new applications to the program. Each dApp will have its own pool.