- Powerloom does all the hard labor with its 5300+ “Snapshotter” nodes spread across the world.
- Web3 apps can use Powerloom’s verified, transparent, and flexible datasets to build sophisticated applications.
Powerloom, the composable data layer for next-generation onchain apps announced the mainnet launch of its much awaited L2 Chain on the Ethereum network. The Powerloom team and community tested the protocol extensively before moving to the mainnet in order to optimize it. The Generative Prediction Markets (GPM), a next-generation onchain prediction market dApp with over 10,000 wallets and over 500k predictions on the GPM app, is powered by the Powerloom protocol.
The launch of Powerloom’s mainnet is a significant step toward removing the conventional obstacles of cost and complexity and enabling everyone to access accurate, dependable, and verifiable onchain truth. Powerloom does all the hard labor with its 5300+ “Snapshotter” nodes spread across the world, freeing up dApp developers to concentrate on innovation and providing the most possible value to the community. Because Powerloom’s composes datasets sync in real-time, consumer applications may operate without the need for external oracles or indexers.
Swaroop Hegde, the Co-founder of Powerloom, said:
“Given the rise of decentralized social networks, AI Agents, and other next-gen web3 use-cases, we are witnessing a growing demand for accurate, reliable, and most importantly, affordable onchain data. With Powerloom’s mainnet and token launch, we are a step closer to meeting this demand, catalyzing web3 innovations, and ensuring consumers get the full range of products and services that blockchain technology enables.”
The majority of web3 initiatives find it difficult to provide deep insights based on onchain data, even though blockchain technology may provide open and transparent access to verifiable data. Bots, dashboards, prediction markets, and other consumer products made from low-level blockchain data need a significant amount of processing power and specialized skills. Innovation is hampered by the fact that most web3 projects cannot afford this.
Web3 apps can use Powerloom’s verified, transparent, and flexible datasets to build sophisticated applications—from financial dashboards to prediction markets—without requiring custom data infrastructure, saving them millions of dollars on building or maintaining data access systems, RPC subscriptions, and data SaaS subscriptions.
It makes use of Conduit’s cutting-edge Rollup-as-a-Service (RaaS) paradigm to create a mature architecture that is both flexible, scalable, and reliable. The OP Stack serves as the foundation for the Powerloom L2, which can process billions of snapshots (unique data points) per day from various protocols and blockchain ecosystems. In order to achieve the high throughput and dependability required for complicated use-cases, EigenDA is also used as the data availability layer.
By default, the Powerloom mainnet only provides incentives for Uniswap V2 submissions during the first phase. In the near future, it will support several data markets, bring back the Uniswap V3 and Aave V3 markets, and introduce new markets. Revenue sources and the chance to get incentives for node operations will both be maximized in this way. Future features like dynamic data markets will also give consumers greater power over how markets are created.
The 5300+ Snapshotter nodes that make up Powerloom’s decentralized network continually record state changes, event emissions, and other data, then combine them to create useful, higher-order information (price actions, liquidity inflow/outflow, trading volumes, etc.). End users and Web3 applications may easily consume its “composed Snapshots” without having to worry about all the calculations. Over one billion snapshots (individual data points) have already been produced by the Snapshotters.
All Powerloom datasets are updated in real time to reflect the most recent state of the underlying blockchain and are synchronized to onchain blocks. By doing this, the possibility of applications and smart contracts running on out-of-date data is eliminated. Although users still have the option to double-check everything if they so choose, its built-in consensus mechanism guarantees the authenticity and integrity of each dataset.
We will require a strong decentralized infrastructure that permits social interactions, capital flow, and truth verification to coexist harmoniously if DeFi, GameFi, NFTs, or onchain AI Agents are to become widely used. Powerloom’s real-time datasets will assist dApps in providing a smooth user experience without sacrificing speed or accuracy, in response to the increasing demand for contextual, real-time data relays that can keep up with the rate at which users interact through likes, follows, and subscriptions.
$POWER Token Listed on Gate.io, MEXC, and KuCoin
On January 10, 2025, Powerloom’s utility token $POWER went live on some of the top centralized exchanges in the world, such as Gate.io, MEXC, and KuCoin. The $POWER token, which provides staking, community benefits, and engagement incentives for early adopters, is essential in motivating ecosystem participants.
- At 2025-1-10 09:00 (UTC), MEXC opened trading for the POWER/USDT trading pair and listed $POWER in the Innovation Zone.
- At 09:00 AM (UTC) on January 10, 2025, Gate.io listed $POWER for spot trading. Gate users may interact with the Powerloom L2 directly without having to pay expensive Ethereum transfer fees.
- At 09:00 (UTC) on 2025-1-10, KuCoin listed $POWER for spot trading.
Additionally, Powerloom’s native OP bridge and a third-party bridge driven by Relay Protocol allow users to access the $POWER token. Moreover, current Powerloom Snapshotters can now burn their nodes and receive Daily Mainnet Rewards. In order to receive Daily Rewards, new node operators can also join the network and operate their nodes on the Powerloom Mainnet.
