DREP MONTHLY REPORT 3.1–3.31 | DREP Provided Solutions for NFT Security Issues; DREP Lifted User Experience in Web 3.0 with On-Chain KYC; DREP Stayed at the TOP Rankings

DREP Foundation
4 min readApr 13, 2022

Dear DREPers,

In March 2022, DREP kept optimizing our capacity in dealing with the NFT credit obstacles and promoting the on-chain KYC system, to secure a real decentralized environment in Web 3.0. What’s more, DREP made some remarkable achievements at coin rankings — — TOP 1 BSC DApp, and the TOP influencer at @LunarCrush.

Tech-side, DREP has made progress in providing solutions to ensure users a safer environment, for instance, raising the upper limit of the liquidity pool, amending the pricing mechanism, etc. We also captured the flaws in DAOs, and strived to figure out solutions to improve the users’ experience in the metaverse.

In terms of ecosystem, DREP won the championship both in the list of top influencers by LunarCrush and among BSC DApps by BNB CHAIN, and also ranked top 5 altcoin. DREP currently has 17 linguistic communities and has witnessed robust growth to more than 350,000 active users on DREP Credit.

Technology

DREP enhanced the safety and flexibility of NFT transaction

Issues of NFT authenticity and price discrepancy still caused inconvenience in the NFT market, but DREP has sought solutions to alleviate the problems. Regarding the safety issues, the DREP Credit DID can collect users’ historical transaction data, asset management, preference settings, and internet social behaviors, and all the information is updated in real-time, plus it is even adaptable to cross-chain transactions. For the price fluctuations, the DREP Credit Data Oracle Solutions and Credit Explorer in the 2.0 product line are able to form a credit price range for the NFT assets, by which liquidity providers can make price adjustments, and users can have a clear view of valuations of products, and make more rational decisions of investment. Moreover, by mapping a new token, DREP users can swap their NFTs once approved, thus the interoperability of the overall market can be fairly enhanced.

DREP buckled up and marched into Web3.0 at a higher speed

It is apparent that the traditional KYC system has shortcomings, such as the possibility to cause bias, and its security crisis has been proven by the news reports lately. However, with DREP Credit DID, which can benefit both managers and the users, discrimination can be mitigated. Besides, DREP on-chain KYC can optimize the market liquidity, because one can use accumulated credit to assuage the traditional way of mortgage — — over-collateralization, therefore the users’ pressure can be significantly reduced. DREP will function as a trusted toolkit to facilitate a more efficient and hassle-free experience in the metaverse.

Ecosystem

DREP achieved several TOP rankings

DREP was graded as TOP 1 influencer by LunarCrush and TOP 1 BSC Dapp in BNBCHAIN on March 24th and has been among the TOP 10 coins by AltRank from the beginning of April.

According to LunarCrush @LunarCrush, DREP ranked TOP 1 in the list of top influencers, with its weighted avg ranking the 2nd, follower ranking the 2nd, engagement ranking the 1st, and post ranking the 3rd. DREP also rose to the championship among #BNB Chain DApps with its news volume reaching as high as 2.73k. What’s more, DREP gained TOP 5 and TOP 10 by ALTRank, also from @LunarCrush.

This shows DREP is an active content creator and promoter, and thus enjoys much popularity on social media platforms.

DREP sees an expanding userbase

There have been more than 350k active users on DREP Credit, a milestone in DREP’s stable progress. Such a breakthrough should be credited to its social impact, community sentiment, and news volume, which successively make DREP on the list of well-known media & DAOs. Moreover, DREP has expanded its influence across social media and enjoyed popularity among 17 linguistic regions around the world.

The above is a brief review of what DREP has achieved in March. We will strengthen our role as a Web 3.0 infrastructure and a toolkit provider, allowing access to better services and technical support for DREP users and Web 3.0 builders. DREP will bear in mind to prioritize customer services and user experience and spare no effort to pave a solid path towards Web 3.0.

For more information,

Telegram group: https://t.me/drep_foundation

DREP Twitter: https://twitter.com/DrepOfficial

DREP Official Website: https://www.drep.org/

DREP Crossing: https://www.crossing.network

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DREP Foundation

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