Axelar – KYVE Foundation – KYVE Network Public Good Funding

Description:

KYVE is revolutionizing decentralized data management by ensuring data validation, permanent storage, and customizable access for leading blockchains like Cosmos Hub, Cronos, Axelar, and others.

Via KYVE’s DPoS protocol and data tooling, any blockchain or dApp can offload its historical data, enhancing scalability and transforming it into a trustless public good for developers, node operators, data analysts, and other data users to leverage.

Project Description:

The KYVE Foundation has covered the costs of integrating Axelar into the KYVE protocol to provide historical data validation and archiving and access to its suite of data tooling.

To maintain a healthy live-height sync, the KYVE Foundation requests to receive a delegation to run a Public Good validator in the Axelar Network and use the generated returns to keep the integration (data pool) running and consistently caught up to live-height. KYVE Public Good validator will participate to the quadratic consensus for EVM bridges.

Impact:

This project would prove to be a mutually beneficial opportunity for both Axelar and KYVE. It would allow Axelar to leverage a delegation to fund the off-boarding of their historical data for optimal scalability and avoid costly archival nodes, while also expanding KYVE’s trustless data sets and capabilities.

In doing so, this historical data is made a trustless public good for the Axelar ecosystem to leverage for free along with KYVE tooling, such as:

  • KSYNC: Nodes are at the heart of blockchains. To enhance the node experience and overall scalability, KSYNC enables rapid node syncing to any historic block, state, or height of a chain made trustless by KYVE.
  • Trustless API: Via KYVE’s trustless API, developers can connect their applications to KYVE trustless data within seconds. The Trustless API serves validated data for free, thereby making it accessible to everyone.
  • Data Pipeline: For analytics purposes like explorers, marketing tools, or accounting solutions, developers need to be able to analyze big data sets quickly. KYVE’s Data Pipeline enables just that, providing a customizable no-code solution for importing trustless data into BigQuery, Snowflake, MongoDB, and others.

Additionally, the KYVE foundation will delegate 40.000 $KYVE to each Axelar protocol validators joining the Axelar data pool on the KYVE protocol layer for them to safeguard Axelar historical data. With the data pool being funded by commission rewards from the public good validator delegation, the validators and delegators participating in this data pool will be rewarded in $AXL tokens.

Goals, Milestones, & KPIs

Milestone Source of Truth Deadline
Funding of the existing data pool (@kyvejs/tendermint runtime). Data pool continues to archive block and block results. As soon as the delegation occurs.
Creation of the @kyvejs/tendermint-ssync data pool to archive state snapshots. The creation of the data pool on KYVE’s testnet for a test period of two weeks. Creation of the governance proposal with a one week voting period after testing. Launch of the data pool if the proposal passes. One month after the delegation occurs.
Funding of the @kyvejs/tendermint-ssync data pool on KYVE mainnet and time to reach live state and height. Once the second data pool is launched on KYVE mainnet, the funding of this data pool to incentivize validators to join the data pool. Funding will occur as soon as the @kyvejs/tendermint-ssync data pools go live on KYVE mainnet. The estimated time to reach live height is 4 months.
Maintenance of both data pools, and education for the data consumers to access the data and leverage the tooling provided by KYVE. The continued funding of the data pools, participation in validators calls, and creation of educational material. Indefinitely when the last data pool reaches live height and state.

Team Information

BCP Innovations is the core team building KYVE and other unique data solutions. The people involved in this grant project would be:

  • Fabian Riewe, CEO and KYVE Co-Founder
  • Maximilian Breithecker, Blockchain developer
  • Troy Kessler, Blockchain developer
  • Christopher Brumm, Blockchain developer

Previous work: KYVE has integrated over 50 different chains across its testnet and mainnet, having validated and archived over 5TB of data including 525GB of Axelar data onto Arweave. This data and KYVE tooling is being leveraged by node operators such as Chorus One, Crosnest, Validatrium, and some others, as well as developers worldwide. KYVE tooling is also linked in the documentation of ZetaChain, Archway, and others as a resource for their ecosystem participants.

KYVE mainnet currently supports the following chains:

  • Cosmos Hub: blocks
  • Osmosis: blocks and block results
  • Archway: blocks, block results, and state sync
  • Axelar: blocks and block results
  • Cronos: blocks, block results, and state sync
  • Noble: block, block results, and state sync
  • Celestia: blocks, blobs, block results, and state sync

Budget & Financing

The KYVE Foundation requests a delegation of 5.000.000 tokens. The KYVE Foundation Public Good node will have a commission of 100%. The generated returns will be broken down by the following:

  • 50% of the generated returns will be used as funding for the data pool(s) ($AXL will be directly funded into the data pool and leveraged as validator and delegator rewards, no token swap will take place).
  • 25% will be used to cover operational expenses for this initiative.
  • 25% will be earmarked as a reserve for diversification and unforeseen events to ensure smooth operations and continuous funding; if there are no unforeseen events, a part (or all) of the 25% will be added to the 50% and used as funding

Contact Details

Contact – Fabian Riewe
Email: [email protected]

Telegram: @fabianriewe

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Due to a recent protocol update on the KYVE network, the funding amount has been reduced, requiring a delegation of 3,000,000 AXL with 100% commission instead of 5,000,000 AXL with 100% commission.

The above grant request is now for 3,000,000 AXL with 100% commission and will be submitted on chain with this new amount.