Powerloom Launches Mainnet on a Layer 2 (L2) Chain Backed by Ethereum, Its $POWER Token Now Available on Leading Exchanges

Powerloom, an open composable data layer for Web3 apps, launched its mainnet on a Layer 2 (L2) chain supported by Ethereum. The move provides a solution for the pains related to Web3: affordable and reliable, in addition to scalably on-chain data.

Powerloom, a composable data layer for Web3 applications, has announced the launch of its mainnet on a Layer 2 (L2) chain powered by Ethereum. This launch aims to provide a solution for the challenges faced by Web3 applications, including high costs, unreliability, and limited scalability of on-chain data.

Developers can now access real-time datasets through Powerloom's innovative infrastructure, which boasts over 5,300 Snapshotter nodes globally. These nodes simplify the process of building frictionless applications, eliminating the need for complex custom configurations and external oracles.

The L2 Powerloom is built on OP Stack and EigenDA, ensuring scalability and reliability for high-throughput use cases. The network can support multiple blockchain ecosystems and has already processed over 1 billion unique data snapshots in real-time, keeping pace with on-chain blocks. This enables dApps to operate with the most up-to-date and precise information.

The launch also introduces initial incentives for Uniswap V2 data submissions. Powerloom plans to expand its support to multi-data markets, such as Uniswap V3 and Aave V3, to provide multiple revenue streams and enable further market creation.

According to Swaroop Hegde, Co-founder of Powerloom, this launch marks a step forward in catalyzing innovation within the Web3 ecosystem, where reliable and affordable on-chain data is crucial.

$POWER Token Lists on Major ExchangesPowerloom's utility token, $POWER, was listed on major centralized exchanges on January 10, 2025. The token will be used to incentivize ecosystem participants for activities like staking, operating nodes, and early adoption.

Gate.io users can directly interact with Powerloom L2 without paying high Ethereum transfer fees. Meanwhile, MEXC will be listing $POWER in its Innovation Zone with a POWER/USDT trading pair. Additionally, KuCoin will also list $POWER for trading, increasing the token's availability. The exchange offers seamless bridging options using its native OP bridge and Relay Protocol-powered third-party bridge.

With Powerloom's real-time datasets boasting over 1 billion snapshots, we can expect broader adoption in DeFi, GameFi, NFTs, and AI domains without compromising user experience, precision, or speed. Powerloom positions itself at the forefront of the Web3 landscape, paving the way for scalable decentralized data solutions.