Odaily Planet Daily News Covalent Network (CXT) released data for the second quarter of 2024. In the second quarter, Covalent Network (CXT) paid $990,000 to its network operators, an increase of 83% from the previous quarter. This growth highlights the strong performance of the CXT staking model. As a leading provider of blockchain data solutions, Covalent Network (CXT) has integrated more than 230 chains and provides billions of structured data points for dApps. The company's CEO Ganesh Swami said that this growth reflects Covalent Network's (CXT) strategic emphasis on long-term data availability. It is worth noting that Covalent Network (CXT) is gradually transitioning to a revenue sharing model. At present, 20% of query revenue has been used to repurchase CXT tokens weekly, stored in multi-signature wallets, and will be distributed to node operators in the future. Covalent Network (CXT) has also launched an innovative Ethereum Time Machine (EWM) designed to protect critical blockchain data that may be lost due to Ethereum upgrades. These measures not only improve network profitability, but also increase its attractiveness to operators, driving Covalent to become the core data infrastructure of the Web3 industry.