What Is Covalent? (CQT)

Covalent provides a unified API that lets developers query blockchain data from 200+ chains through a single endpoint. Instead of building custom indexing infrastructure for each blockchain, developers call the Covalent API to get wallet balances, transaction histories, token metadata, NFT assets, and DeFi positions across virtually every chain — Ethereum, Solana, Bitcoin, Cosmos, and hundreds more. The CQT token powers the Covalent Network's decentralized data infrastructure, where operators index blockchain data and serve API queries.

Covalent Key Facts

History of Covalent

Ganesh Swami founded Covalent in 2018. The API grew to support 200+ chains. The network transitioned toward decentralized operation with CQT-staked operators handling data indexing. Major integrations include DeFi dashboards, wallets, and analytics platforms.

How Covalent Works

Covalent operators run full archive nodes and index blockchain data into a unified schema. Developers query via REST API with consistent data formatting across all supported chains. CQT is staked by operators to participate in indexing and earn query fees.

CQT Tokenomics

CQT is used for operator staking and query fee payments. Operators stake CQT to participate in the network and earn fees.

Use Cases

Advantages of Covalent

200+ chain coverage

Widest blockchain data API coverage available.

Unified API

Single endpoint for all chains — massive developer convenience.

Real usage

Thousands of developers query Covalent daily.

Decentralizing

Transitioning to decentralized operator network.

Risks and Drawbacks

Competition from Alchemy and Infura

Well-funded competitors offer similar data services.

Free tier competition

Many developers use free alternatives for basic queries.

B2B visibility

Infrastructure invisible to end users.

Revenue model maturity

Transitioning to sustainable token-based fees.

Frequently Asked Questions

How does Covalent compare to The Graph?

Both provide blockchain data APIs but differently: Covalent offers a unified API across 200+ chains through a centralized-to-decentralizing model. The Graph uses subgraphs (custom indexers) deployed by developers. Covalent is simpler (one API call); The Graph is more customizable (build your own subgraph).

What is CQT used for?

CQT is staked by network operators who index blockchain data and serve API queries. Stakers earn query fees. CQT also provides governance over the network.

Is CQT a good investment?

CQT is a bet on blockchain data infrastructure demand growing. If multi-chain development expands, unified data APIs become essential. Evaluate based on API query growth and developer adoption metrics.

View live Covalent price, charts, and market data on the Covalent detail page.

Learn how to purchase: How to Buy Covalent