Powerloom, a composable data layer designed for next-generation onchain applications, has officially launched the mainnet operations of its Ethereum-based Layer 2 (L2) network. This development aims to support a new era of prediction markets by providing reliable and scalable onchain data solutions. The protocol’s token, POWER, has also been listed on several major tier-1 exchanges, further expanding its reach within the blockchain ecosystem.
According to the team’s official announcement, the Powerloom network, built on Optimism’s OP Stack, is now live on the mainnet. Before its release, extensive stress testing was conducted, connecting over 5,300 testnet nodes, referred to as “Snapshotters,” to ensure system robustness and efficiency.
Empowering Generative Prediction Markets with Scalable Data
The Powerloom protocol serves as the backbone for Generative Prediction Markets (GPM), a next-generation onchain prediction market application. This decentralized platform has already attracted over 10,000 end-user wallets, generating more than half a million predictions. The team behind Powerloom has emphasized the growing demand for accurate, reliable, and cost-effective onchain data, particularly with the increasing adoption of decentralized social networks, AI-driven agents, and other Web3 use cases. The launch of Powerloom’s mainnet and token is considered a crucial step toward meeting this demand while fostering blockchain innovations and expanding the range of available decentralized services.
🎉 Powerloom Mainnet is Live! 💪
We're now a step closer to making accurate, affordable, & verifiable onchain data accessible to everyone in web3 — from next-gen apps to end-users.
This marks the beginning of a new era in onchain data access 🚀
🧵: More details ↓ pic.twitter.com/xLrRBMTDMd
— Powerloom Protocol (@Powerloom) January 9, 2025
To achieve a highly scalable and flexible architecture, Powerloom integrates Conduit’s Rollup-as-a-Service (RaaS) framework. By leveraging the OP Stack, the protocol is designed to handle billions of daily snapshots across multiple blockchain networks. Additionally, EigenDA serves as its data availability layer, ensuring high throughput and dependability for complex use cases.
Listing on Tier-1 Exchanges and Future Market Expansion
On January 10, 2025, Powerloom’s utility token, POWER, was officially listed on prominent centralized exchanges, including Gate.io, MEXC, and KuCoin. Gate.io has even integrated support for Powerloom’s mainnet, enabling seamless transactions without requiring users to bridge POWER from other EVM-compatible networks.
Initially, Powerloom’s mainnet incentives will be limited to Uniswap V2 submissions. However, the network is expected to introduce multi-data market support in the near future, with plans to reintroduce Uniswap V3 and Aave V3 markets while also incorporating new ones. These enhancements aim to diversify revenue streams and increase earning opportunities for node operators.
Upcoming features such as dynamic data markets are set to provide users with greater control over market creation. This expansion is expected to further strengthen Powerloom’s position as a leading force in the decentralized prediction market sector. As the platform continues to evolve, its innovative approach to onchain data processing is anticipated to play a key role in shaping the future of Web3 applications.
