Pocket Network, an infrastructure middleware protocol, has reported record-breaking growth in protocol revenue, relays, nodes and node revenue. The network facilitates decentralized cloud computing and bandwidth on full nodes to other Web3 applications on 37 blockchains, including Ethereum, Polygon, Solana, Fuse and Harmony. 

Since November, developers have routed approximately 16 billion relays — or application programming interface calls — on Pocket Network, which generated more than $215 million in total protocol revenue. This was evident in Token Terminal’s on-chain metrics, and more than $191 million was paid to node runners. 

This 90-day feat demonstrates Pocket Network’s significant growth trajectory compared to $14.8 million in total protocol network revenue the preceding period, August to October 2022. The growth is due to its latest strategic funding round. 

This surge in network revenue has attracted newly staked nodes to Pocket Network, which now has over 24,000 full nodes, cumulatively worth $500 million. A node costs 15,000 of Pocket’s native token, POKT. With ongoing plans to add new layer 1 and Web3 applications, the network is projecting billions of relays daily by mid-2022. 

This substantial growth can be attributed to the ongoing momentum of blockchain ecosystems and native-token accessibility, combined with the network effects from the increases in usage and node revenue. It’s further proof that Pocket Network has found a protocol-market fit. 

“We have been consistently doubling our growth monthly during the last six months,” said Michael O’Rourke, CEO of Pocket Network. “We remain focused on what is important and that is the traction of the protocol that we have been working on since 2017. It is remarkable to see people around the world providing infrastructure where usage fuels real revenue for node runners.”

Based mostly on organic industry demand — and spurred by recent Web2 centralized cloud providers having outages that affected many well-known applications — Pocket Network saw an increase of more than 60% in average daily relays. The “flywheel incentivization” of independent node runners to support each blockchain is where the bulk of Pocket Network’s revenue is distributed. For instance, 0.01 POKT is minted for every relay that is served on Pocket Network. Of that amount, the node that served the relay is rewarded 89%, 0.0089 POKT. The Pocket decentralized autonomous organization receives 10%, 0.001 POKT, and the block producer receives the remaining 1%, 0.0001 POKT. 

All network nodes have an opportunity to produce a block, but their chances are proportional to their stake. This economic formula drives quality network coverage, allowing applications such as DeFi Kingdoms, a play-to-earn game, to be successful among more than 2,000 highly trafficked decentralized apps that utilize Pocket Network, reducing risks of service downtime to near zero.

As an industry trailblazer in offering a full-node, incentive-based protocol, Pocket Network encourages and incentivizes niche cloud providers globally and aims to provide Web3 with a more compatible infrastructure network. 

About Pocket Network

Pocket Network, a blockchain data ecosystem for Web3 applications, is a platform built for applications that uses cost-efficient economics to coordinate and distribute data at scale. It enables seamless and secure interactions between blockchains and across applications. With Pocket, the use of blockchains can be easily integrated into websites, mobile apps, the Internet of Things and more, giving developers the freedom to put blockchain-enabled applications into the pocket of every mainstream consumer. For more information, visit the website.