Street City, British Virgin Islands, January sixteenth, 2025, Chainwire
Powerloom, the composable knowledge layer for next-gen onchain functions, is thrilled to announce the mainnet launch of its much-anticipated L2 Chain on the Ethereum community. Previous to the transition to mainnet, the Powerloom crew and group carried out intensive testing to optimize the protocol. The Powerloom protocol powers the Generative Prediction Markets (GPM), a next-gen onchain prediction market dApp that has garnered over 10,000 wallets producing 500k+ predictions on the GPM app.
Powerloom’s mainnet launch is a significant step in the direction of making correct, dependable, and verifiable onchain fact accessible to everybody, with out conventional boundaries of value and complexity. With 5300+ globally distributed ‘Snapshotter’ nodes, Powerloom does all of the heavy-lifting, letting dApp builders give attention to innovating and delivering essentially the most worth to the group. It permits shopper apps to operate seamlessly with out counting on exterior oracles or indexers, because of the real-time sync of Powerloom’s composed datasets.
Swaroop Hegde, the Co-founder of Powerloom, stated, “Given the rise of decentralized social networks, AI Brokers, and different next-gen web3 use-cases, we’re witnessing a rising demand for correct, dependable, and most significantly, inexpensive onchain knowledge. With Powerloom’s mainnet and token launch, we’re a step nearer to assembly this demand, catalyzing web3 improvements, and making certain shoppers get the complete vary of services and products that blockchain expertise permits.”
Regardless of blockchain expertise’s skill to allow open and clear entry to verifiable knowledge, most web3 initiatives battle to generate wealthy insights based mostly on onchain knowledge. Turning low-level blockchain knowledge into shopper merchandise—bots, dashboards, prediction markets, and so forth.—requires a number of computational assets and specialised expertise. Most web3 initiatives can’t afford this, which hampers innovation.
Web3 apps that don’t need to spend tens of millions of {dollars} on constructing or sustaining knowledge entry methods, RPC subscriptions, and knowledge SaaS subscriptions can leverage Powerloom’s verified, clear, and adaptable datasets to create superior functions—from monetary dashboards to prediction markets—all without having customized knowledge infrastructure.
It leverages Conduit’s revolutionary Rollup-as-a-Service (RaaS) paradigm to realize a mature structure that’s sturdy, scalable, and versatile directly. The Powerloom L2 relies on the OP Stack and is able to dealing with billions of every day snapshots (distinctive knowledge factors) throughout protocols and blockchain ecosystems. Moreover, it makes use of EigenDA as the information availability layer to realize the excessive throughput and reliability vital for complicated use-cases.
Within the preliminary part, the Powerloom mainnet solely incentivizes Uniswap V2 submissions by default. It would add multi-data market help within the close to future, reintroducing Uniswap V3 and Aave V3 markets, in addition to including new markets. This can maximize income streams and the chance to earn rewards for node operations. Shoppers can even get extra management over market creation with upcoming options like dynamic knowledge markets.
Powerloom’s decentralized community of 5300+ Snapshotter nodes constantly seize state modifications, occasion emissions, and so forth. and compose them into sensible, higher-order datasets (worth actions, liquidity influx/outflow, buying and selling volumes, and so forth.). Web3 apps and end-users can merely devour its “composed Snapshots” with out worrying about all of the computation. The Snapshotters have already generated greater than 1 billion snapshots (distinctive knowledge factors).
Each Powerloom dataset is synced to onchain blocks by default and receives real-time updates to match the newest state of the underlying blockchain. This eliminates the chance of apps & sensible contracts executing on outdated info. Its built-in consensus mechanism ensures the validity and integrity of each dataset, although shoppers nonetheless have the choice to confirm every thing if they need.
For DeFi, GameFi, NFTs, or onchain AI Brokers to go mainstream, we’ll want a strong decentralized infrastructure that allows social interactions, capital stream, and fact verification to coexist seamlessly. Amid the rising want for real-time, contextual relays of information that may match the pace at which customers interact by likes, follows, and subscriptions, Powerloom’s real-time datasets will assist dApps ship a seamless person expertise with out compromising pace or accuracy.
$POWER Token Listed on Gate.io, MEXC, and KuCoin
Powerloom’s utility token $POWER has been listed on a number of the world’s main centralized exchanges together with Gate.io, MEXC, and KuCoin on January 10, 2025. The $POWER token performs a pivotal position in incentivizing ecosystem contributors by providing staking, group rewards, and engagement incentives for early adopters.
- MEXC has listed $POWER within the Innovation Zone and opened buying and selling for the POWER/USDT buying and selling pair at 2025-1-10 09:00 (UTC)
- Gate.io listed $POWER for spot buying and selling on January tenth, 2025, at 9:00 AM (UTC). Gate customers can instantly work together with the Powerloom L2, with out paying excessive switch charges on Ethereum
- KuCoin listed $POWER at 2025-1-10 09:00 (UTC) for spot buying and selling
Customers can even entry the $POWER token utilizing Powerloom’s native OP bridge, in addition to a third-party bridge powered by Relay Protocol.
Additional, Each day Mainnet Rewards and the power to burn their nodes can be stay for present Powerloom Snapshotters. New node operators can even be part of the community and run their nodes on Powerloom Mainnet to earn Each day Rewards.
About Powerloom
Powerloom is a composable knowledge community working on an L2 constructed with OP Stack and EigenDA. With 5300+ international Snapshotter nodes, it makes dependable onchain knowledge accessible and inexpensive for all. The POWER token fuels this distributed knowledge financial system, incentivizing stakeholders, rewarding contributors, and supporting protocols constructed on Powerloom’s infra.
From one-click node deployments to composable datasets, Powerloom promotes a hassle-free method for operators and shoppers, whereas sustaining top-notch accuracy and verifiability. By lowering the fee and complexity of information entry, it catalyzes various use-cases like wealthy DeFi analytics for Uniswap V2/V3 or Aave V3 and shopper apps like Generative Prediction Markets (GPM). Powerloom thus envisions a future the place knowledge entry is not a barrier to next-gen web3 improvements.
Contact
Itai Elizur
[email protected]