DREP Monthly Report 12.01–12.31 | DREP Reconstructed Codes of Public Chain, Tenet Was Officially Launched on PancakeSwap and Uniswap

Dear DREPers,

In December, DREP focused on the sustainable development of the DREP ecosystem.

In terms of technical products, DREP public chain has been further improved. The codes of DREP public chain has been reconstructed to enhance code reuse. At the same time, the first stage of the DREP reputation calculation model has been fulfilled, which has increased the pledging limit of block nodes. The optimization of both the DREP public chain’s transaction process and the coinbase reward system has further enhanced the stability of block production. Generating nodes for block creation have also been optimized with node selection strategies being upgraded to prevent node block forks. The DREP explorer continues to optimize the trading query operations, the query speed under poor network status, and the display interface of contract contents.

In terms of ecosystem, in order to further boost DREP’s token circulation model, DREP Foundation has completed the buyback & lock of the latest DREP token in the fourth quarter of 2021. At the same time, Tenet, a DeFi product incubated by DREP Signal Labs, has officially launched. Its token TEN has carried out the initial public offering on January 5th 2021 through PancakeSwap and Polkastarter. TEN token has already been oversubscribed by over 14 times on PancakeSwap and sold out within in 20 seconds after its launch on Polkastarter. The great demand for TEN token has also prompted the listing of DREP token on Uniswap. All users who hold DREP tokens will be given the privilege to mine initial TEN token and receive rewards. In addition, the DREP team has recently hosted an AMA event to introduce the Tenet product to the community, attracting various projects including some already listed on leading exchanges to submit their applications of creating Liquidity Taps with Tenet.

Technology

In terms of technology, DREP public chain has been further improved. The codes of DREP public chain has been reconstructed to enhance code reuse. At the same time, the first stage of the DREP reputation calculation model has been fulfilled, which has increased the pledging limit of block nodes. The optimization of both the DREP public chain’s transaction process and the coinbase reward system has further enhanced the stability of block production. Generating nodes for block creation have also been optimized with node selection strategies being upgraded to prevent node block forks. The DREP explorer continues to optimize the trading query operations, the query speed under poor network status, and the display interface of contract contents.

Public Chain Development

  • DREP public chain reconstructed its code, improving reusability of the codes.
  • Fulfilled the first stage of the DREP reputation calculation model, increasing the pledging limit of block nodes.
  • Optimized both the DREP public chain’s transaction process and the coinbase reward system, further enhancing the stability of block production.
  • Optimized the generating nodes for block creation and upgraded node selection strategies, preventing node block forks.

DREP Products Development

DREP explorer

  • Improved the query speed under poor network status.
  • Enhanced the display interface of contract contents.

Ecosystem

In terms of ecosystem, Tenet, the DeFi product incubated by DREP Signal Labs, has officially launched. Its token TEN has begun the initial public offering on January 5th 2021 through PancakeSwap and Polkastarter. TEN token has already been oversubscribed by over 14 times on PancakeSwap and sold out within in 20 seconds after its launch on Polkastarter. The great demand for TEN token has also prompted the listing of DREP token on Uniswap. All users who hold DREP tokens will be given the privilege to mine initial TEN token and receive rewards. In addition, the DREP team has recently hosted an AMA event to introduce the Tenet product to the community, attracting various projects including some already listed on leading exchanges to submit their applications of creating Liquidity Taps with Tenet.

Tenet Officially Launched; TEN Token Gained 14 Times Oversubscription

At present, Tenet has officially launched on Uniswap and PancakeSwap platforms, and has simultaneously started mining on ETH and BSC. Tenet V1 supports multiple AMM platforms of ETH and BSC, and cooperates with major crypto wallets such as MathWallet. Tenet is the first AMM connector in the industry to build DeFi Layer2 facilities. It not only offers convenient and effective liquidity incentive tools to projects, but also provides users with triple benefits through projects, AMM platforms, and Tenet, adding great value to the entire DeFi ecosystem. Users who hold DREP token can enjoy the privilege to mine initial TEN token rewards.

On January 5th, 2021, Tenet issued its token TEN for the first time through PancakeSwap and Polkastarter. The maximum supply of TEN tokens is 3,457,970 (of which 1,833,450 will be issued on ETH and 1,624,520 will be issued on BSC), of which 44.25% are carried out for initial offering, 12.9% for providing mining revenue, and the remaining 42.85% are used for building the Tenet Ecosystem Fund.

The TEN tokens sold on Ethereum blockchains were carried out in the form of IDO held in cooperation with Polkastarter. The sale would be initiated at the same time as IFO, where 300,000 TEN tokens would be sold. As the community has responded enthusiastically to this sale, DREP decided to adopt the whitelist registration strategy to issue purchase quotas. The whitelist was opened on January 4th. Within 24 hours of the opening of the whitelist, DREP received 12,903 applications, of which 909 passed the whitelist (including 600 in the public pool and 309 in the POLS pool). In the end, only 400 were able to snap up TEN tokens (ERC20). The huge demand for TEN tokens also prompted the listing of DREP tokens on Uniswap, providing more convenience to our community members.

The initial offering of TEN was a huge success. After the initial distribution, now it has also been carried out on both PancakeSwap and UniSwap, the two decentralized Swap platforms where users can easily obtain TEN tokens and start mining through the official Tenet platform. Tenet has also received a large number of requests from excellent projects seeking for partnerships and launching liquidity taps on Tenet.

Tenet Launches Its First Liquidity Tap with Fountain (FTN)

As the first partner of Tenet to create a Liquidity Tap on eth.tenet.farm, Fountain is a block-chained content ecosystem based on Proof of Contribution. Fountain is backed by China’s Top original content community Jianshu.com. Established in 2013, Jianshu relies on convenient creative tools and intelligent distribution strategies, Jianshu has gathered a large number of high-quality authors and content. Jianshu has received multiple financing from SIG Heiner Asia, Junlian Capital, Saifu Investment Fund, Gobi Venture Capital and other quality investment institutions. Jianshu has been launched on the web, iOS, Android and other mainstream platforms. With a total registered number of users of more than 12 million, an average of one new piece of content is published every second. The average monthly traffic is 200 million visits.

Steve Tung, CTO of Tenet Project, Held Online AMA

On January 4th, 2021, Steve Tung, the chief technology officer of the Tenet project, hosted an online AMA in five communities including CryptoDiffer, Crypto Daku Robinhood, the main English group of PancakeSwap and PolkaStarter, and the Vietnamese group of PolkaStarter. He presented a detailed introduction of Tenet’s value, operation system, and its token distribution to community members, and answered exciting questions regarding the product from community members. The AMA has achieved great success in all five communities, receiving warm responses and bringing Tenet to larger groups of people.

The above is the DREP team’s monthly report for December 2020. DREP will keep up the good work and follow the planned roadmap to further advance DREP’s technical and ecological development, achieving more ground-breaking applications. Thanks to the members of the DREP community for their attention and support!

DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, to be the backbone of DeFi Credit Era.