DREP Monthly Report 1.1–1.31 | LookForGem Mint & DREP Staking Goes Live Gaining Strong Momentum | Staking APY Peaks at 400% | TVL Surges | Strides Made on Gamefi, DeFi and DAO
In the first month of 2024, DREP presents a great momentum in revolutionizing the arena at the intersection of NFT and DeFi. In January, with adequate preparation and careful testing, the upcoming NFT marketplace aggregator, LookFor, successfully launched its platform level NFT collection — LookFor Gem, and $DREP staking went live on 26 Jan, bringing much hype to the community.
Technology side, the launch of $DREP staking successfully locked 1 million $DREP within the first 24 hours, generating an APY up to 400%. The LookFor Gem whitelist mint and public mint also ignited the public’s enthusiasm. Eventually 1,703 NFT were minted.
Ecosystem side, with another strong force joining LookFor Alliance, our community’s ethusiasm was reignited by the high-rewarding $DREP holder incentive plan on Binance and the consecutive warm-up events towards the launch of $DREP staking.
Technology
LookFor Gem Being a Smash Hit
From 11 to 12 Janurary, 2024, the most expected LookFor Gem NFT collection finally revealed themselves! In the 1,703 minted LookFor Gem NFT, 1,022 of them were minted by $DREP holders, ready to level up the function of their $DREP utility. Trades related to rarer skin color, which can bring higher staking rewards, were pursued by the community. Within the first 24 hours, LookFor Gem ranks TOP 1&2 respectively on Opensea and Blur on Trending Ranks.
DREP Staking Enhances Token Utility
On 26 January, 2024, $DREP staking went live, which ignited the community’s ethusiasm. In the first day, a total of 1.05 million $DREP tokens were staked in contract, and the ETH wallet addresses holding $DREP grew by 9.5%. Being innovatively utilized as a staking asset, $DREP can thereby provide holders a constant source of passive income.
DREP DAO Network
DREP has been upgrading DAAS and DREP Credit to facilitate a solid-built DAO, bringing socialfi to another level. While all on-chain user data can be recorded and traced through a Decentralized ID system, it will assure players that all interactive financial behaviors would be validated on-chain. The DID is not only the ticket to enter a DAO, but also the real starting point of Web 3.0. Besides, for DAO participants, it’s hard to decide whether it’s worthwhile to join one or several particular DAOs before joining the organization. In fact, there is no need to participate in the DAO with low credit. DREP Credit scores DAOs according to particular factors such as wash trading and member retention rate, which is a relatively objective way to evaluate DAOs.
Ecosystem
Partnership
DREP partnered with FlappyMoonBird, a H5 multi-chain nft-based game metaverse. The partnership between DREP and FlappyMoonBird marks as a significant Gamefi movement for DREP as we continue to deliver great liquidity in metaverse. DREP is set to offer a game-dedicated API layer that integrates both financial toolkits and DeFi credit solutions, recharge web3 gaming with brand new DREP Gamefi SDK.
Community Growth Fueled by Exciting DREP Staking APY
On the community front, we are thrilled to have welcomed over 10k members who showed interest in DREP Staking. Within a mere 24 hours, our community has staked a remarkable 1.05 million $DREP tokens, while an additional 2.04 million $DREP tokens have been securely locked on-chain through LookforGem NFT staking. Notably, our innovative NFT-based staking mechanism, coupled with attractive staking rewards, has enabled us to engage with a wider audience of crypto enthusiasts, effectively leveraging their NFT and DREP token assets. With an impressive APY of nearly 400%, our efforts have not only fostered community growth but also enhanced the value of the LookFor ecosystem. As we continue to strive for excellence, we eagerly anticipate further exciting developments in the upcoming months, as we work tirelessly to present LookFor in an increasingly user-friendly manner.
DREP is committed towards building Web 3.0 connectors and toolkits based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration.
Website | Twitter | Telegram | Telegram Announcements | Discord
