Polkachu Team | 2022-09-20
Last week, we received a generous delegation from the Evmos Foundation Delegation program. A sincere thank-you to the Evmos Foundation!
With the additional commission revenue, we have ramped up our IBC operations by more than doubling our operating channels. At the time of this writing, Polkachu is operating 98 IBC relayer channels that connect between 49 chain pairs. We will continue to add more in the coming days. The expanded operation will not only support Evmos, but benefit the whole ecosystem in general.
Since we started our crypto journey, the plan has always been to provide free public support to the ecosystem while monetizing through the validation service. When we earn more revenue through validation, it gives us more resources to provide public infrastructure. On the other hand, when we provide more public infrastructure, we think that we can earn more delegations. A win-win virtuous cycle.
The activities in the Interchain is picking up as we speak: ATOM 2.0, multiple liquid staking protocols, multiple native stable coins, order-book app-chains, dYdX migration, IBC extension to Polkadot/Kusama/NEAR and potentially Ethereum, etc. While IBC relaying still does not have a native monetization mechanism, we believe that it is up to the #IBCGang validators to plough back our commission revenues to support the upcoming explosive growth of the Interchain.
We have two goals as we step deep into the Interchain. First, we want to become one of the top IBC relayers ourselves. Second, we would like to lower the barriers for future potential relayers. We are glad to see that both Hermes and rly have released a major version and brought much improvement to the relay tooling. To do our part, we have open-sourced our IBC relayer deployment Ansible script. In the coming days, we will publish a few IBC relayer Grafana dashboards too.