DREP Monthly Report 3.1–3.31| DREP 2.0 Official Launch; DREP Token Upgrade; the 1st Product Launch in the 2.0 Product Line
Dear DREPers,
In March, the DREP team focused on the development of DREP ecosystem.
In terms of technical products, DREP officially introduced the DREP 2.0 product line and released a detailed roadmap on March 19: DREP is initiating an upgrade from frictionless blockchain toolkits to DeFi Credit Protocol. DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, which will change the single method of credit enhancement in the DeFi field through over-collateralization, and enhance the multidimensional credit investigation of DeFi user portraits. Moreover, as DREP’s infrastructure, the DREP chain has been optimized specifically in its nodes-producing stability; the redundant P2P content has been eliminated; the rate of information synchronization between nodes has been improved. The team has also been working on the development of the DREP block weighting scheme to improve the evaluation standards of the quality of block-generating nodes. The DREP Explorer has optimized its diaries and inquiry functions to further improve user experience.
In terms of ecosystem, in DREP 2.0 product line, DREP Token will undertake the key role as the primary approach for fee payment and fully capture the value of the entire credit-data network. Therefore, we conducted an upgrade plan for DREP Token. The upgrade has begun on March, and will span across 6 months, ending on 2021–09–01. The swap ratio of the legacy DREP and the upgraded DREP will be 100:1, thus the total supply of DREP will be reduced from 10,000,000,000 to 100,000,000. Many exchanges have already supported DREP Token upgrade. For example, Gate.io (March 25), Binance (April 2), AscendEX (April 6) have all completed DREP token redenomination and commenced trading for upgraded DREP.
Furthermore, DREP has achieved the first new product launch in DREP 2.0 product line: Crossing.network. Aiming at the pain points in today’s NFT market and cross-chain asset swap, Crossing is the ultimate solution to NFT cross-chain swap & multi assets circulation. It is equipped with numerous advantages including multi-chain & assets support, lower gas fees, decentralized, easy to enter, rich liquidity incentives, etc. It will also launch a unique NFT cross-chain swap function in the near future to explore more possibilities and value of cross-chain NFT circulation.
Technology
In terms of technical products, DREP will officially introduced the upgraded DREP 2.0 product line and released a detailed roadmap on March 19: DREP is initiating an upgrade from frictionless blockchain toolkits to DeFi Credit Protocol. DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, which will change the single method of credit enhancement in the DeFi field through over-collateralization, and enhance the multidimensional credit investigation of DeFi user portraits. Moreover, as DREP’s infrastructure, the DREP chain has been optimized specifically in its nodes-generating stability; the redundant P2P content has been eliminated; the rate of information synchronization between nodes has been improved. The team has also been working on the development of the DREP block weighting scheme to improve the evaluation standards of the quality of block-generating nodes. The DREP Explorer has optimized its diaries and inquiry functions to further improve user experience.
Public Chain Development
- Optimization of the stability of block generation.
- Elimination of redundant P2P content.
- Improvement on the rate of information synchronization between nodes.
DREP Products Development
DREP Explorer
- Optimization of diary
- Optimization of inquiry function
Ecosystem
In terms of ecosystem, in DREP 2.0 product line, DREP Token will undertake the key role as the primary approach for fee payment and fully capture the value of the entire credit-data network. Therefore, we conducted an upgrade plan for DREP Token. The upgrade has begun on March, and will span across 6 months, ending on 2021–09–01. The swap ratio of the legacy DREP and the upgraded DREP will be 100:1, thus the total supply of DREP will be reduced from 10,000,000,000 to 100,000,000. Many exchanges have already supported DREP Token upgrade. For example, Gate.io (March 25), Binance (April 2), AscendEX (April 6) have all completed DREP token upgrade and commenced trading for upgraded DREP.
Furthermore, DREP has achieved the first new product launch in DREP 2.0 product line: Crossing.network. Aiming at the pain points in today’s NFT market and cross-chain asset swap, Crossing is the ultimate solution to NFT cross-chain swap & multi assets circulation. It is equipped with numerous advantages including multi-chain & assets support, lower gas fees, decentralized, easy to enter, rich liquidity incentives, etc. It will also launch a unique NFT cross-chain swap function in the near future to explore more possibilities and value of cross-chain NFT circulation.
DREP 2.0’s Official Launch; DREP Token 100:1 Redenomination Upgrade
DREP officially introduced the DREP 2.0 product line and released a detailed roadmap on March 19: DREP is initiating an upgrade from frictionless blockchain toolkits to DeFi Credit Protocol. DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, which will change the single method of credit enhancement in the DeFi field through over-collateralization, and enhance the multidimensional credit investigation of DeFi user portraits.
In DREP 2.0 product line, DREP Token will undertake the key role as the primary approach for fee payment and fully capture the value of the entire credit-data network. Therefore, we conducted an upgrade plan for DREP Token. The upgrade has begun on March, and will span across 6 months, ending on 2021–09–01. The swap ratio of the legacy DREP and the upgraded DREP will be 100:1, thus the total supply of DREP will be reduced from 10,000,000,000 to 100,000,000. Many exchanges have already supported DREP Token upgrade. For example, Gate.io (March 25), Binance (April 2), AscendEX (April 6) have all completed DREP token upgrade and commenced trading for upgraded DREP.
Total supply of DREP Token after the redenomination: 100,000,000
Circulating supply of DREP Token after the redenomination: 39,900,000
DREP 2.0’s First Product Launch Crossing is to Capture the Value of NFT
DREP has officially achieved the first new product launch in DREP 2.0 product line: Crossing.network. Aiming at the pain points in today’s NFT market and cross-chain asset swap, Crossing is the ultimate solution to NFT cross-chain swap & multi assets circulation. It is equipped with numerous advantages including multi-chain & assets support, lower gas fees, decentralized, easy to enter, rich liquidity incentives, etc. It will also launch a unique NFT cross-chain swap function in the near future to explore more possibilities and value of cross-chain NFT circulation.
Crossing is a trustworthy, transparent and convenient cross-chain swap solution for decentralized assets. It is equipped with numerous advantages including multi-chain & assets support, lower gas fees, decentralized, easy to enter, rich liquidity incentives, etc. It will also launch a unique NFT cross-chain swap function in the near future to explore more possibilities and value of cross-chain NFT circulation. Crossing is already live on Ethereum, Binance Smart Chain (BSC), Huobi Eco Chain (Heco Chain) and Gate-Chain. The functions regarding NFT swap and trading are still under testing and will be launched in the near future. Welcome to visit Crossing.network now and explore more of its innovative functions!
DREP Partners with DeGate and Jointly Hosted an AMA
DeGate is an Ethereum based layer 2 DEX that aims to become the strongest layer-2 liquidity pool. The team behind DeGate is KeyGroup, which together with its subsidiary BIHU.com (the largest Chinese blockchain community platform with more than 1 million users). On April 4, DeGate hosted an AMA in DREP Community, which received warm feedback. In the future, DREP will establish more great partnerships, to expand the influence of DREP 2.0 DeFi Credit Protocol and bring more benefits to our DREP community.
The above is the DREP team’s monthly report for March 2021. 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!
