Powerloom, the composable data layer for next-generation onchain applications, launches mainnet operations for the Ethereum-based L2 network. The protocol is set to power a new generation of prediction markets. The Powerloom token POWER has been listed on a handful of major tier-one exchanges.

Powerloom launches a mainnet of over 5,300 nodes

According to his team's official statement. Powerluman Ethereum-based L2 network on Optimism's OP Stack, is finally live on the mainnet. Prior to release, the Powerloom team conducted rigorous stress testing procedures to connect over 5,300 testnet nodes (“Snapshotters”).

Powerloom Protocol powers Genetic Prediction Markets (GPM), a next-generation prediction market dApp that has garnered over 10,000 end-user wallets generating over half a million predictions on the GPM app.

Swaroop Hegde, co-founder of Powerloom, highlights the critical importance of this innovation to the thriving sector of decentralized prediction markets:

As decentralized social networks, AI agents, and other next-generation web3 use cases emerge, we are seeing a growing demand for accurate, reliable, and, most importantly, affordable onchain data. With the launch of the Powerloom mainnet and token, we are one step closer to meeting this demand, driving web3 innovations, and ensuring consumers have access to the full range of products and services enabled by blockchain technology.

Powerloom builds on Conduit's innovative RaaS model to achieve a mature architecture that is both robust and scalable and flexible.

Powerloom L2 is based on the OP Stack and is capable of handling billions of daily snapshots (unique data points) across blockchain protocols and ecosystems. Furthermore, it uses EigenDA as its data provisioning layer to achieve the high throughput and reliability needed for complex use cases.

POWER token reaches level 1 of CEXes

On January 10, 2025, Powerloom's utility token, POWER, was listed on two of the world's leading centralized exchanges, including the likes of Gate.io, MEXC, and KuCoin. Gate.io has even added support for the Powerloom mainnet so traders don't have to connect POWER to other EVMs.

It should be noted that, in the initial phase, the Powerloom mainnet only drives Uniswap V2 submissions by default. It will add support for multiple data marketplaces in the near future, reintroducing Uniswap V3 and Aave V3 marketplaces, as well as adding new marketplaces.

This will maximize revenue streams and the opportunity to earn rewards for contract operations. Consumers will also have more control over market creation through upcoming features such as dynamic data marketplaces.