DREP Monthly Report 8.1–8.31 | DREP Credit & Binance Affiliate Program; Defining DREP Gamefi and NFT; New Partnership with ZK Swap
In August, DREP team has made headways in DeFi ecological infrastructures building and we have taken solid strides in our DREP 2.0 roadmap, well meeting the expectations. DREP aims to bring a new level of performance with its innovative development on cross-chain solutions, delivering more benefits to our growing community in NFT trading.
In terms of technical products. August is a time of retrospection and innovation for DREP. Since we started building DREP 2.0 technical product lines, DREP has made great achievement in promoting user’s activity and developing pattern. We are turning to a stage where techonoloy progress, users’ experience and software security counts most. DREP deems it the real trend of the industry. The semiannual report is a good conclusion of what we did so far in 2021, which also injects much confidence and lifts our spirits up. Taking the lead by our roadmap and existing progress, DREP made attempts on the development of DREP Gamefi and NFTfi, which will join DREP’s whole map of DREP 2.0 value-adding. Meanwhile, DREP Crossing and DREP Cedit’s updates will follow up and support DREP’s NFT trading and Gamification tool.
In terms of ecology, DREP ecosystem has seen some new changes. The DREP team has always been good at considering the situation and seizing opportunities. DREP Credit will act as a driving force to DREP&Binance Affiliate Program, and bring generous benefits to all DREP users that trade in Binance. DREP’s Gamification tool and NFT trading are also under planning. DREP are meant to build a fresh new ecology encircling better cross-bridging and more diverse NFT application for all DREP users and partners.
Progress in Following DREP 2.0 Roadmap
DREP has made progress in following our 2.0 roadmap and built its own flourishing DeFi ecosystem in its smart contract chain, such as launching Layer 2 solution, including the Credit Oracle & Explorer, the Credit DID for cross-protocol Credit Granting & Transfer, the verifiable white list, and more.
DREP Oracle not only provides a delivery mechanism for transmitting data on the chain, but also serves as a verification mechanism to ensure the high integrity of data. DREP Credit Data Oracle solutions and Credit Explorer can help form a credit price for the DeFi protocol, which can assist in determining the configuration of parameters such as variable interest rate, margin rate, commission rate, and clearing threshold.
DREP Credit DID, a cross-chain data system where where interactive authentication can be achieved through asymmetric-key encryption between different nodes is based on the traditional PKI challenge-response authentication mechanism and data encryption. Through DREP Credit DID, the credit accumulated by DeFi users through historical transaction data, asset management, preference settings, and even Internet social behaviors will be quantified and capitalized, which will fully improve the accuracy and efficiency of the DeFi protocol, and users will be able to manage and use their credit assets more intelligently.
DREP Crossing is already live on Ethereum, Binance Smart Chain (BSC), Huobi Eco Chain (Heco Chain) and Gate-Chain. It is equipped with numerous advantages including multi-chain & assets support, lower gas fees, decentralized system, 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 DeFi New Normal: Gamefi & NFT
Gamefi is very likely to play a leading role in the next blockchain era as powerful as DeFi, and is committed to present financial products as games and creat a concept of “play to earn”, so as to enhance users’ interest and promote the development of game ecology.
DREP Gamification Tool, a toolkit based on DREP SDK, aims to fully enhance the token economic system, allow easy integration while bringing secure, decentralized and customized game elements to users. Developers will be able to create economic models, provide asset consumption scenarios, and enable user-defined operations.
Based on DREP Gamification Tool, DREP successfully developed the first blockchain miner pakour game — DREP MINING, integrating attributes of multi-currency payment SDK, hold & mining, lock & earn, etc. Of the three versions in DREP MINING, the Alpha received outstanding improvements in social media with a prize pool of 100,000 DREP; the Beta, known as the “Quess DREP TPS” game, attracted more than 8,000 participants with a prize pool of 200,000; the third round DREP added a tiered increase mechanism in the prize pool distribution so that the rewards will not be diluted as participants increase.
DeFi endows NFT with commercialized value through finance, and NFT is a blockchain project integrates with NFT elements. The DREP team is promoting the cross-border application of DeFi, especially by combining with NFT to launch more innovative projects. With a huge number of newcomers participate in the trading of cryptocurrency, NFT-related infrastructures and applications are surging in diverse forms. Since NFT boasts an enormous potential in the market, new forms of trading platforms for NFT transactions are highly possible to be developed. Under the aim to endow DeFi+NFT certain value, the team has kept working on developing the DREP Credit NFT assets delegation and transfer system to provide more trusting and convenient DeFi solutions for our community.
Whether it is DREP Crossing, DREP Credit or other DREP Layer2 solutions, all of these DREP DeFi products seem to be ready for a next big step that DREP will stride. In the near future, with the help of DeFi’s decentralization, DREP will enable users to initiate NFT transactions in the chain on the basis of solving credit and certificate deposit problems, so as to achieve cross-chain DeFi interoperability, bring better user experience and help DeFi application land successfully.
DREP products development
· Launch of DREP Gamefi and NFT developing plan
· DREP Credit’s clearing of bugs and errors
DREP Cross-Chain Solutions
The DeFi ecosystems continue to gain momentum in various fields, yet different networks still remain siloed and separated from each other, thus the demand for bridging infrastructures has surged more than ever, to break the existing barriers.
To reduce the impact of the gradual fragmentation of the ecosystems while protecting the security of users’ cross-chain assets, DREP team strives to provide the most optimal solution of cross-chain bridges, allowing users to gain access to a wider array of opportunities and seamless movement in a secure, efficient and trustworthy way. After innovative development and endeavor, DREP cross-chain bridge comes with such intriguing advantages as low operational costs and short waiting period, helping users better manage their assets.
Cross-chain bridges, acting as the underlying infrastructure, will boost all blockchain systems on the grounds that they enable interoperable and vibrant blockchain layers. The move to a world where blockchains are interoperable will allow ecosystems to draw on each other’s services and specialties. In the future, DREP Bridge intends to realize more functions that could better serve the blockchain industry.
DREP Credit × Binance Affiliate Program
Among all the projects that listed on Binance, DREP is by all means an industry-leading Blockchain Connector and Toolkit with its unique features and advantages. As a decentralized credit-data middleware based on layer-2 facilities, DREP owns its technological light spots in terms of Reputation Quantification Algorithm Library, Reputation Monetization Model and Virtual Account Identification Mechanism.
Based on Binance Smart Chain, DREP has already deployed its products and introduced DREP(BEP20). In response, Binance also published its official support to the charge and withdraw of DREP(BEP20), which shows that the products and services provided by DREP is trustworthy and reliable.
DREP Credit × ZKSwap
DREP Credit is to be in a partnership with ZKSwap, a ZK-Rollups based Layer-2 DEX with AMM model. This cooperation will empower bilateral synergy and fusion, delivering smooth user experience and resilient solutions with unlimited scalability.
DREP will work with more leading exchanges to improve the convenience of DREP transactions and continue to show our community the huge potential of DREP infrastructures.
With these cooperation ahead, we are sure that DREP will build up more and more mutual events in the future. To meet diverse needs of all DREP users and DREP holders, new forms of trading are highly possible to be developed, and we will never be confined on the way of digging into new applications.
The above is the DREP team’s monthly report for August 2021. DREP will further our commitment and stick to its path to forge ahead in DREP’s technical and ecological development, yielding more ground-breaking results. Thanks to the members of the DREP community for your attention and support!
For more information,
join our 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