Powerloom, the composable knowledge layer for next-gen onchain functions, kickstarts the mainnet operations of its Ethereum-based L2. The protocol is about to energy a brand new era of prediction markets. Powerloom’s token POWER was listed by a clutch of main tier-1 exchanges.
Powerloom launches mainnet with 5,300+ nodes
In line with the official assertion by its group, Powerloom, an Ethereum-based L2 community on Optimism’s OP Stack, is lastly dwell in mainnet. Previous to the discharge, the Powerloom group performed stringent stress check procedures connecting over 5,300 testnet nodes (“Snapshotters”).
The Powerloom protocol powers Generative Prediction Markets (GPM), a next-gen on-chain prediction market dApp that has garnered over 10,000 end-user wallets producing over half one million predictions on the GPM app.
Swaroop Hegde, the cofounder of Powerloom, highlights the essential significance of this innovation for the thriving phase of decentralized prediction markets:
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 guaranteeing shoppers get the total vary of services that blockchain know-how permits.
Powerloom depends on Conduit’s progressive Rollup-as-a-Service (RaaS) paradigm to realize a mature structure that’s sturdy, scalable and versatile without delay.
The Powerloom L2 relies on the OP Stack and is able to dealing with billions of day by day snapshots (distinctive knowledge factors) throughout protocols and blockchain ecosystems. Moreover, it makes use of EigenDA as its knowledge availability layer to realize the excessive throughput and reliability mandatory for complicated use instances.
POWER token makes it to tier-1 CEXes
On Jan. 10, 2025, Powerloom’s utility token, POWER, has been listed on a few the world’s main centralized exchanges, together with the likes of Gate.io, MEXC and KuCoin. Gate.io even added help for Powerloom’s mainnet so its merchants don’t have to bridge POWER from different EVM networks.
It ought to be famous that, within the preliminary section, the Powerloom mainnet solely incentivizes Uniswap V2 submissions by default. It should 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. Customers will even get extra management over market creation with upcoming options like dynamic knowledge markets.