Powerloom launches mainnet on Ethereum, unlocking new possibilities for Web3 apps

Powerloom, a composable data network for onchain applications, has officially launched its highly anticipated L2 mainnet on Ethereum. This milestone simplifies access to accurate and verifiable onchain data, removing traditional barriers like cost and complexity for developers.

With over 5,300 globally distributed “Snapshotter” nodes, Powerloom automates the data-heavy processes, allowing dApp builders to focus on creating impactful tools for their communities. The platform enables seamless app functionality without external oracles or indexers by syncing real-time, composed datasets.

What This Launch Matters

The mainnet launch underpins Powerloom’s broader vision of making reliable onchain data accessible for innovative applications like Generative Prediction Markets (GPM). This platform, for example, allows users to predict decentralized finance (DeFi) market trends and earn rewards in POP tokens. Powered by Powerloom’s infrastructure, GPM ensures data transparency and reliability, enabling new markets to be created every five minutes.

Beyond GPM, Powerloom’s mainnet sets the stage for countless other Web3 projects that require trustworthy data. The network reduces the technical and financial challenges many developers face when working with blockchain data, spurring innovation across sectors.

Extensive Testing and Early Success

Before launching on mainnet, Powerloom underwent rigorous testing with support from its community. Its infrastructure powers GPM, which has already attracted 10,000+ wallets and generated over 500,000 predictions. The results highlight the demand for accessible and affordable onchain data.

Swaroop Hegde, Powerloom’s Co-founder, commented, “With the rise of decentralized networks, AI agents, and other Web3 use cases, the demand for affordable and accurate onchain data has never been higher. Powerloom’s mainnet launch brings us closer to meeting this demand while driving innovation across the blockchain ecosystem.”

Addressing Challenges in Blockchain Data

Blockchain technology promises transparency and verifiability, but extracting meaningful insights from raw data remains resource-intensive and costly. Powerloom bridges this gap by offering verified datasets that developers can integrate into products like financial dashboards, prediction markets, and consumer apps—without requiring custom data infrastructure.

Built on the OP Stack and leveraging Conduit’s Rollup-as-a-Service (RaaS), Powerloom’s L2 architecture delivers high throughput and reliability, handling billions of daily data snapshots. Its use of EigenDA ensures the scalability needed for complex applications while keeping costs manageable.

Expanding Market Opportunities

Initially, Powerloom’s mainnet will incentivize Uniswap V2 submissions, with plans to add support for Uniswap V3, Aave V3, and dynamic data markets. This will open new revenue streams and enhance market creation capabilities for consumers and node operators alike.

The network’s Snapshotter nodes continuously capture and compose data such as price actions, liquidity flows, and trading volumes, providing real-time insights for dApps. These composed datasets are synced with blockchain activity, ensuring applications always operate with the most up-to-date information.

$POWER Token Goes Live on Major Exchanges

Powerloom’s utility token, $POWER, is now listed on Gate.io, MEXC, and KuCoin, enabling spot trading on January 10, 2025. The token is integral to Powerloom’s ecosystem, offering staking opportunities, community rewards, and incentives for early adopters. Users can also access the token through Powerloom’s native OP bridge and third-party services powered by Relay Protocol.

Node operators can participate in the Powerloom network to earn daily rewards and contribute to a decentralized data economy.

Based in the British Virgin Islands, Powerloom is a global data network powered by over 5,300 Snapshotter nodes. Its mission is to make reliable onchain data affordable and accessible for developers, enabling diverse applications in DeFi, GameFi, NFTs, and beyond. With a focus on composability and ease of use, Powerloom is driving the next wave of Web3 innovation, removing barriers to data access while maintaining high accuracy and transparency.