DREP Monthly Report 8.1–8.31 | LookFor Brings Major Enhancement in DREP Token’s Utilities | Global Community Highlights
With the launch of DREP’s NFT+DeFi Aggregator LookFor approaching, we recently revealed a few exciting features to the public and ignited community engagement. The most thrilling part is the great enhancement in the utility of $DREP, which would significantly drive its demand and add more liquidity.
Technology side, as various features of LookFor, including one-stop trading/sweep, $DREP staking, and NFT staking, have been announced, the dev team is forging ahead with the audit of smart contracts for token and NFT staking, striving to deliver a reliable and trustworthy Dapp to the public.
Ecosystem side, DREP continued to make substantial progress on the ecosystem front, focusing on the expansion of the LookFor Alliance. Simultaneously, our pre-launch activities for LookFor resulted in remarkable organic growth within our global community.
Technology
Major Enhancement in DREP Token’s Utility
To enhance the utility of the DREP token in the new product and to effectively optimize DREP token supply, we build $DREP staking modules for token holders to earn passive incomes from their assets and mitigate volatility risks.
Another effort we’ve made is to introduce the NFT collection — LookFor Gem (LFG). The LFG NFT collection is set to undergo an initial launch to showcase the functionality of LookFor and improve user onboarding. With the innovative stake-to-mint mechanism, DREP token holders will be the first batch to enjoy the benefits brought by this collection, for instance, a pioneering feature that correlates NFT rarity with DREP staking yield.
With the belief that these features will take DREP community to the next level, the dev team is pressing ahead with smart contract auditing on staking-related modules. These efforts are designed to bolster confidence in our community.
Ecosystem
In August, we made significant progress in expanding the LookFor Alliance, strengthening our partnerships related to DREP Credit system and encouraging organic growth within our global communities.
LookFor Alliance Growth
Our efforts to build the LookFor Alliance, a decentralized accelerator for NFT and DeFi projects, gained significant momentum. We engaged in constructive discussions with several alpha projects that expressed interest in collaborating with LookFor Alliance. Together, we are poised to drive the growth of our ecosystem and offer enhanced user-centric services.
Global Community Highlights
With our LookFor pre-launch activities undergoing these couple of months, DREP community has seen significant organic growth, which has translated into an increase in community size, engagement levels, and discussions revolving around DREP and LookFor, manifested across platforms such as Telegram, Twitter, and various comment sections spanning local communities in Turkey, Nigeria, Vietnam, South Korea, Indonesia, Spain and more. DREP community’s global organic growth was notably led by Turkish community. Here’s the snapshot of DREP global community growth.
In conclusion, as we approach the launch of LookFor, DREP is poised for an exciting growth and development. We are excited about the prospects that lie ahead as we continue to forge ahead with our DeFi+NFT Aggregator LookFor.
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.
