DREP MONTHLY REPORT 10.1–10.31 | Most Notable Ethereum Project with Top Social Mentioning | Multi-Directional Momentum to Drive Web3 Adoption
What would you do during a bear market? This is a frequently asked question of DREP. Below it will demonstrate what goals DREP achieved to give October a perfect end.
Ecosystem side, 2022 Q4 roadmap is officially released, where DREP centers most of its efforts in GameFi 2.0 tools and NFT product. DREP remains its popularity in the crypto world and have again gained token awards across different ecosystems.
Technology side, DREP explores deeper into DID (Decentralized Identification) model that penetrates into areas of DeFi and DAO, and it will bring huge advantages to both individuals and projects. DREP’s new DAO governance structure, featuring DREP credit model and our innovative technologies, has been proposed to all parties of DAO participants in order to co-build a trustless Web3. That aside, every effort is put into the development of GameFi 2.0 tools and NFT product’s upgrade and testing.
$DREP Popularity Remains Top-Level on Ethereum
In October, DREP has obtained top awards for its popularity in the crypto world. Along with $APE, DREP is among most discussed projects in the Ethereum Ecosystem with a high social contributor mentioning. As a crucial part in Ethereum ecosystem. Aside from the top favorites, DREP is again rated top coins according to Lunarcrush Galaxy Score, which indicates a higher social impact score and positive sentiment. The data suggest our progress in ecosystem building and community engagement, and DREP will relentlessly keep up being a leading project that will truly benefit Web3.
DREP DID Model to Build up Credible Web3 Finance
With Web3 identity gaining more traction, DREP DID model opens up multi-layered possibilities to facilitate Web3 adoption through empowering a credible Web3 finance. By detecting possible hostile behavior of an individual address, DREP DID can act as a fraud identifier to enable DeFi interaction with less friction and risks. While for projects, simpler on-chain KYC and credit scoring process are first among all the benefits, less complicated onboarding process will definitely lower the barrier of DeFi participation, thus a DeFi ecosystem with more coverage and inclusivity.
DREP will Establish a Reputation-Supported DAO Governance Structure
Surrounding a trustable Web3, DREP’s DAO structure is based on EVM-compatible networks and DREP’s DeFi Credit protocol, with underlying technologies such as smart pipeline and zero-knowledge proof to boost efficiency and secure user privacy. Utilizing such credit tools, DREP is able to digitalize on-chain financial and non-financial attributes and verify user identity across the whole Ecosystem. DREP’s DAO structure is able to provide either DAO organizers reliable credit tools to optimize DAO participation or participants for better interaction with other members.
DREP’s Efforts Towards Web3 adoption
Following the announcement of a strategic funding to boost the whole Web3 ecosystem growth, DREP is on track to accelerate Web3 adoption with practical products.
As indicated in the 2022 Q4 roadmap, DREP will put major effort into upgrading gamification tools and the upcoming NFT product. Aiming to forge a better P2E model, DREP GameFi 2.0 will further enhance cross-chain platform asset verification and integrate DREP DID model to create a reputation-supported gaming environment.
For NFTs, DREP will initiate a pioneering move to reimagine a brand new way of NFT application. Furthermore, DREP will propose a series of solutions to support Web3 development and expand its coverage to benefit a wider range of people. DREP Credit 2.0 for example, is a credit database for on-chain activities; others such as DREP Crossing, which is a cross-chain bridge to facilitate interactions among different ecosystems.
For more information,
DREP Official Website: https://www.drep.org/
DREP Twitter: https://twitter.com/DrepOfficial
DREP Telegram: https://t.me/drep_foundation
DREP Credit: https://credit.drep.org/
