DREP Monthly Report 2.1–2.29 | Introducing DREP Credit 2.0; 2024 Roadmap Update; LookFor Alliance Expansion
In February, we witnessed remarkable strides in DREP’s technological landscape. With the launch of Credit 2.0, we welcomed 5,128 new users within just two days, as they eagerly engaged in the e-KYC process on DREP Credit and participated in LookFor pre-launch events.
Technology side, concurrently, the TVL of $DREP staking surged by an impressive 73%, reaching 1,823,731 $DREP. This month’s report encapsulates our journey towards innovation and empowerment within the realms of DeFi and Web3.0.
Ecosystem side, we have 3 more projects publicly announced in Feb 2024 in LookFor Alliance, and 4 more projects who’s ready to integrate DREP’s toolkits will be announced in the near term.
Technology
In February, DREP launched Credit 2.0, attracting 5,128 new users within 2 days to complete e-KYC process on DREP Credit and join in LOOKFOR pre-launch events. In the meantime, the TVL of $DREP staking grew by 73%, standing at 1,823,731 $DREP.
DREP Launches Credit 2.0 — Empowerment of Socialfi in Web3.0
We are thrilled to unveil DREP Credit 2.0, an innovative solution designed to drive DeFi mass adoption, DAO prosperity, and DeSoc empowerment. DREP Credit 2.0 marks a monumental leap forward from our previous iteration and enables DREP to stride towards a credit-based Web3. At the core of DREP Credit 2.0 is our embrace of SocialFi, a fusion of DeFi and social networking that redefines interaction in the decentralised space.
Facilitated by zero-knowledge proof, DREP Credit 2.0 includes an on-chain Know-Your-Client (“KYC”) tool. The KYC tool simplifies the KYC process in a confidential manner and will enable DREP Credit 2.0 to become a pivotal trust enhancer in the DAO layer.
With front-end plugins and social media data opt-in, DREP Credit 2.0 is able to retrieve user activity data and incentivize creditable behaviours. Users are also empowered to utilise Web3 identities and social systems. Hence DREP Credit 2.0 will help create a more practical Web3 social layer by acting as a bridge between full encryption and KYCed data.
Ecosystem
DREP 2024 Roadmap Update
The most expected DREP 2024 roadmap is released in February. In the following year, DREP is poised to bring the community more products and token utilities. With the focus on both innovation and technology, DREP product toolkits will have more excitement onboard, crossing different arenas including SocialFi, GameFi, Layer1 and Layer2 facilities, and NFT section. Check the detailed roadmap here: https://x.com/DrepOfficial/status/1755474892399792257?s=20
LookFor Alliance On the Momentum of Expansion
The LookFor Alliance has made significant strides, bringing together over 16 innovative projects that align with DREP’s mission and aspirations so far. These projects span a variety of domains, such as GameFi, NFT platforms, and Artificial Intelligence, among others. This rich tapestry of diversity forms a solid foundation that not only supports but also propels the growth and development of each individual project within the alliance. By leveraging their unique strengths, the alliance is poised to drive progress and set new benchmarks across the industry.
DREP x Rehide.io Partnership
We’re delighted to reveal our new partnership with Rehide, a cutting-edge password manager that prioritizes user security through zero-knowledge encryption. This collaboration with DREP Credit 2.0 is set to enhance our robust credit system, further safeguarding user privacy. Together, we’re committed to strengthening cyber security and fostering decentralized trust within the Web3 ecosystem. Our united efforts will pave the way for a more secure and trustworthy digital future.
DREP x Dojima Partnership
This month LookFor Alliance had another promising project onboard, Dojima Network, a forward-thinking omnichain Layer 1 platform. Our shared dedication to shaping a seamless Web3 infrastructure underpins this collaboration, promising to catalyze a wave of technical innovation. By combining our strengths, we aim to lead the industry with groundbreaking advancements that redefine the boundaries of what’s possible in the digital realm.
DREP x Micro3 Partnership
It is our hornor to have entered into a strategic partnership with Micro3. This collaboration unites us with a pioneering decentralized NFT platform that champions creative expression within the NFT space through Chainlink BUILD program. Our joint efforts aim to breathe new life into the DeFi and NFT sectors, offering our community enhanced asset value and improved liquidity options. This partnership marks a significant step forward in our commitment to innovation and the growth of the digital asset ecosystem.
Month after month, the DREP team remains steadfast in our commitment to excellence, consistently delivering results that not only meet but exceed the evolving demands of the Web3 market. Our dedication is reflected in the high-quality products and professional services we offer to our B2B and B2C clientele. As we look ahead, we are poised to unveil even more significant announcements that promise to make a substantial impact. Stay tuned for the exciting developments we have in store!
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.
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