Road Town, British Virgin Islands, January 16th, 2025, Chainwire
Powerloom, the composable data layer for next-gen onchain applications, is thrilled to announce the mainnet launch of its much-anticipated L2 Chain on the Ethereum network. Prior to the transition to mainnet, the Powerloom team and community carried out extensive 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 generating 500k+ predictions on the GPM app.
Powerloom’s mainnet launch is a major step towards making accurate, reliable, and verifiable onchain truth accessible to everyone, without traditional barriers of cost and complexity. With 5300+ globally distributed ‘Snapshotter’ nodes, Powerloom does all the heavy-lifting, letting dApp builders focus on innovating and delivering the most value to the community. It enables consumer apps to function seamlessly without relying on external oracles or indexers, thanks to the real-time sync of Powerloom’s composed datasets.
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.”
Despite blockchain technology’s ability to enable open and transparent access to verifiable data, most web3 projects struggle to generate rich insights based on onchain data. Turning low-level blockchain data into consumer products—bots, dashboards, prediction markets, etc.—requires a lot of computational resources and specialized skills. Most web3 projects can’t afford this, which hampers innovation.
Web3 apps that don’t want to spend millions of dollars on building or maintaining data access systems, RPC subscriptions, and data SaaS subscriptions can leverage Powerloom’s verified, transparent, and adaptable datasets to create advanced applications—from financial dashboards to prediction markets—all without needing custom data infrastructure.
It leverages Conduit’s innovative Rollup-as-a-Service (RaaS) paradigm to achieve a mature architecture that’s robust, scalable, and flexible at once. The Powerloom L2 is based on the OP Stack and is capable of handling billions of daily snapshots (unique data points) across protocols and blockchain ecosystems. Furthermore, it uses EigenDA as the data availability layer to achieve the high throughput and reliability necessary for complex use-cases.
In the initial phase, the Powerloom mainnet only incentivizes Uniswap V2 submissions by default. It will add multi-data market support in the near future, reintroducing Uniswap V3 and Aave V3 markets, as well as adding new markets. This will maximize revenue streams and the opportunity to earn rewards for node operations. Consumers will also get more control over market creation with upcoming features like dynamic data markets.
Powerloom’s decentralized network of 5300+ Snapshotter nodes continuously capture state changes, event emissions, etc. and compose them into practical, higher-order datasets (price actions, liquidity inflow/outflow, trading volumes, etc.). Web3 apps and end-users can simply consume its “composed Snapshots” without worrying about all the computation. The Snapshotters have already generated more than 1 billion snapshots (unique data points).
Every Powerloom dataset is synced to onchain blocks by default and receives real-time updates to match the latest state of the underlying blockchain. This eliminates the risk of apps & smart contracts executing on outdated information. Its integrated consensus mechanism ensures the validity and integrity of every dataset, though consumers still have the option to verify everything if they want.
For DeFi, GameFi, NFTs, or onchain AI Agents to go mainstream, we’ll need a robust decentralized infrastructure that enables social interactions, capital flow, and truth verification to coexist seamlessly. Amid the growing need for real-time, contextual relays of data that can match the speed at which users engage through likes, follows, and subscriptions, Powerloom’s real-time datasets will help dApps deliver a seamless user experience without compromising speed or accuracy.
$POWER Token Listed on Gate.io, MEXC, and KuCoin
Powerloom’s utility token $POWER has been listed on some of the world’s leading centralized exchanges including Gate.io, MEXC, and KuCoin on January 10, 2025. The $POWER token plays a pivotal role in incentivizing ecosystem participants by offering staking, community rewards, and engagement incentives for early adopters.
- MEXC has listed $POWER in the Innovation Zone and opened trading for the POWER/USDT trading pair at 2025-1-10 09:00 (UTC)
- Gate.io listed $POWER for spot trading on January 10th, 2025, at 9:00 AM (UTC). Gate users can directly interact with the Powerloom L2, without paying high transfer fees on Ethereum
- KuCoin listed $POWER at 2025-1-10 09:00 (UTC) for spot trading
Users can also access the $POWER token using Powerloom’s native OP bridge, as well as a third-party bridge powered by Relay Protocol.
Further, Daily Mainnet Rewards and the facility to burn their nodes is also live for existing Powerloom Snapshotters. New node operators can also join the network and run their nodes on Powerloom Mainnet to earn Daily Rewards.
About Powerloom
Powerloom is a composable data network running on an L2 built with OP Stack and EigenDA. With 5300+ global Snapshotter nodes, it makes reliable onchain data accessible and affordable for all. The POWER token fuels this distributed data economy, incentivizing stakeholders, rewarding contributors, and supporting protocols built on Powerloom’s infra.
From one-click node deployments to composable datasets, Powerloom promotes a hassle-free approach for operators and consumers, while maintaining top-notch accuracy and verifiability. By reducing the cost and complexity of data access, it catalyzes diverse use-cases like rich DeFi analytics for Uniswap V2/V3 or Aave V3 and consumer apps like Generative Prediction Markets (GPM). Powerloom thus envisions a future where data access is no longer a barrier to next-gen web3 innovations.
Contact
Itai Elizur
[email protected]
