Deeper Network Project Update
With the successful completion of Deeper Network’s IDO, conducted across four launchpads, it’s time to update the Deeper community on what’s been achieved so far. In this post we’ll detail the progress we’ve made, the decisions we’ve made in terms of listing the DPR token, and where we’re headed next.
Let’s get started.
Choosing the Deeper DEX
As you may be aware, the DPR token will be listed on Uniswap initially where it can be traded against ETH and other ERC20 assets. While gas fees are unfortunately high on Ethereum, there are many advantages to listing on its leading DEX, Uniswap, on account of the deep liquidity and high number of active users.
It is for these reasons that we made the decision to list DPR on Uniswap initially. This will take place on April 10 @ 00:00 UTC.
And our Smart Contract Number is:
However, Deeper is not tied to any single DEX and we will explore other DEXs and other networks with a view to listing the DPR token on these where there is a compelling case for doing so.
We can also confirm that we are in discussion with a number of CEXs concerning listing the DPR token. We will make an announcement concerning this matter once one or more CEX listings has been confirmed.
How the DPR Token Works
Speaking of DPR, let’s run through some of the primary functions of Deeper Network’s native token and the ways in which it can be utilized.
The DPR token serves as the gas at the heart of Deeper Network. It incentivizes users to share bandwidth by using our Proof of Credit consensus algorithm. DPR is also used to make micropayments between users and within the Web3 ecosystem it will connect to. This will enable DPR to be used on various defi platforms, NFT stores, dApp stores, and decentralized e-commerce and e-services.
The ability to swap the DPR token cross-chain is something we are currently developing as well. Moreover, a staking program for DPR will be implemented in the future, while liquidity mining is something we are considering.
Who’s Backing Deeper Network
We’d also like to take a moment to recap the investors who are backing Deeper Network after participating in its seed round. Some of our notable investors and advisors include Republic, Youbi Capital, Parity, UVA Univalues Associates, SevenX Ventures, Consensus Lab, Master Ventures, Digital Renaissance, and ChinaPolka.
We’re grateful to all our investors and advisors for their support so far and are fortunate to have them with us on this journey. Like us, they’re in this for the long haul, and we look forward to drawing upon their expertise and utilizing their extensive partner network as we build out our ecosystem.
Where We’re Headed Next
As noted above, the Uniswap listing of the DPR token will occur on April 10 @ midnight UTC. That’s the next major date the Deeper community will want to make a note of, but it’s merely the first of many milestones on our roadmap.
Over the next six months, we’ll be focused on launching our mainnet, which is scheduled for Q3. This will be built on Polkadot’s Substrate framework. We are also working on several strategic partnerships with projects that can add features and products to our ecosystem.
By the end of the year, we intend to launch our sixth generation Deeper Connect Pico which will be the smallest and most affordable model to join the Deeper Connect family yet. The Pico will be wifi compatible, which will allow for even greater usability and positioning.
There’s lots more to come in the weeks and months ahead. Rest assured we’ll keep you updated every step of the way.