Covalent commits $2.5M in grants to Empower the Identity Tech Ecosystem with Polygon ID

Covalent, a leading data analytics provider for Web3, is thrilled to announce its strategic collaboration  with Polygon ID, the pioneering identity infrastructure for Web3. This collaboration aims to bolster the Polygon ID ecosystem, encompassing:

• Issuers

• Verifiers

• Wallet Providers

• System Integrators

• SaaS ID Solutions

• Cross-chain ID Solutions

By leveraging the principles of self-sovereign identity and privacy by default, Polygon ID empowers developers and users to establish trusted and secure relationships between users and decentralized applications (dApps). Using Decentralised Identifiers (DIDs) in combination with Verifiable Credentials and Zero-Knowledge (zk) Proof Technologies, Polygon ID stands at the forefront of identity toolset in the Web 3 space, Polygon ID stands at the forefront of identity toolset  in the Web3 space.

Grant Opportunity for the Polygon ID Ecosystem

To incentivize and support the growth of the Polygon ID ecosystem, Covalent is offering grants of up to $25,000 USD in credits per project. These credits can be utilized across Covalent's data products to fetch data from Polygon POS, zkEVM, and CDK chains. This initiative underscores Covalent's commitment to fostering innovation and scalability in the Web3 domain.

Use Cases: Leveraging Covalent APIs with Polygon ID Apps

Verifiable Credentials Verification: dApps can use Covalent APIs to cross-reference on-chain data with verifiable credentials stored in user wallets, ensuring data integrity and authenticity.

Zero-Knowledge Proofs for Smart Contracts: By integrating Covalent APIs, dApps can fetch necessary on-chain data to generate zero-knowledge proofs, allowing users to interact with smart contracts without revealing sensitive information.

Enhanced User Experience: Covalent's rich data analytics can be combined with Polygon ID's passwordless authentication to provide users with a seamless and secure login experience.

Compliance and Privacy: For dApps requiring compliance checks, Covalent APIs can be used to fetch relevant on-chain data, which can then be verified using Polygon ID's zero-knowledge technology, ensuring compliance without compromising user privacy.

“This collaboration with Polygon ID is not just a milestone for both our organizations but a leap forward for the Web3 ecosystem. By bridging the gap between data analytics and identity solutions, we're paving the way for a more secure and user-centric decentralized future." - Ganesh Swami, Founder, Covalent.

"We're thrilled to team up with Covalent, a leading provider of blockchain data APIs in the Web3 space, to support the rapidly expanding PolygonID Ecosystem. This collaboration will undoubtedly inspire developers to create Self-Sovereign Identity (SSI) solutions in Web3, making use of the powerful toolset from PolygonID and the extensive on-chain data APIs provided by Covalent." - Silvia Aran, Technical Sales Director, Polygon ID

Grant Recipient:

ReputeX, aiming to be the Credible Hub for Web3 Metrics, received a $15,000 grant in Covalent credits to advance their analytics and insights into user behavior within the Web3 space. This grant will enable ReputeX to extend its reach across multiple networks, enhance server throughput, and improve real-time data management and on-demand score generation. Covalent's APIs play a crucial role in ReputeX's mission, providing unique data endpoints that allow for in-depth research and the computation of reliable Web3 metrics.

Apply for the Grant

Entities within the Polygon ID ecosystem interested in availing of this grant opportunity can apply through this form.