We want to share an important update with the community.
Since July 2021, POKTscan Technologies has been developing and funding the poktscan.com portal. However, with the current token price and the reduction in minting, generating the necessary funding to maintain and further improve the poktscan.com portal is becoming increasingly challenging for POKTscan.
The survival of POKTscan is a challenge for us all because of the vital role they play acting as the primary source of data and analytics about Pocket’s blockchain for exchanges, researchers, and the community at large. Nevermind the major contributions they have made, such as Geomesh, and by developing the custom APIs that enable integrations with external data aggregators like Web3Index and Token Terminal.
We believe that we cannot afford to lose POKTscan, as it is a crucial public good, and supporting them aligns with our mission to advance the best interests of the Pocket Network community.
Given the risk posed by not having the poktscan.com portal available to us all, PNF has agreed to help with a Grant:
POKTscan will keep all the rewards derived from running 171 validator nodes using 14.3m of PNF’s delegated POKT tokens staked on a non-custodial basis, originally estimated to be worth up to $15,000 per month,
an additional monthly grant of $5,000 payable in USDC to supplement POKTscan’s operational costs, and
in the event that POKTscan’s validator rewards are less than $15,000 per month, PNF has committed to top up the rewards towards this amount, but by no more than an additional $5,000 per month.
We made our first payment to POKTscan on 30 June, comprising 219,829 POKT in validator rewards and $5k in USDC. We subsequently sent over an additional $5k in USDC to make up some of the $8k shortfall from the lower than expected return from last month’s validator rewards.
We cannot say for certain how long this grant support will last for. Its continuation relies on POKTscan reaching a point of financial sustainability, which is primarily influenced by the price of POKT. Other factors, such as the necessity of additional analytics providers in the ecosystem, should also be taken into account to avoid relying solely on POKTscan and potential risks of a single point of failure. However, these considerations are of lower priority compared to the immediate importance of maintaining POKTscan as an active and reliable infrastructure for our entire community.
Detail of these payments will be covered in full in PNF’s quarterly accounts due in the coming weeks.
Stay tuned for more updates, and thank you for your support.