PowerLoom to host first node mint on Polygon’s PoS

5,000 nodes will be available for pre-mint

article-image

Vladimir Kazakov/Shutterstock modified by Blockworks

share

Decentralized data startup PowerLoom is launching a node mint on Polygon’s proof-of-stake network.

PowerLoom is designed to enable protocols to index and query blockchain data in a decentralized manner. The protocol is designed for developers building DEX aggregators or any other Web3 applications that require reliable data.

An initial pre-mint of 5,000 nodes will be accessible to interested participants who meet the necessary criteria. These participants, if selected, will be given a soul-bound token that will enable them to operate PowerLoom Snapshotter Lite nodes.

Soul-bound tokens are tokens that can only be owned, or transferred by a specific user address. Unlike NFTs, which are freely transferable and tradeable, soul-bound tokens often serve as a credential. 

Read more: Mastering NFTs: From Beeple to Starbucks to Digital Twin Cities

Pre-minting will end on Feb. 4. On Feb. 6, winners will be announced, Swaroop Hegde, co-founder and CEO of PowerLoom protocol, told Blockworks in an interview. 

A total of 10,000 independently run Snapshotter Lite node spots will be available, said Hegde. Additional node spots will be given to PowerLoom community members, ecosystem partners and contributors. 

“You could essentially acquire more than one soul-bound token as there are 10,000 nodes, but we are limiting it to 10 per person,” Hegde said.

The node mint follows a recent incentivized testnet that PowerLoom undertook in partnership with Coinlist, a cryptocurrency exchange, and it is designed to enable less technically experienced users to participate in the network. 

Read more: Protocol Obligate ramps up push to boost institutional blockchain use

Pratik Gandhi, marketing lead at PowerLoom, told Blockworks that PowerLoom’s goal is to become a completely decentralized data network that is composable and flexible in obtaining data from any chain.

“Although we are EVM-focused right now, if someone wants to get data from Celestia data markets, for example, they can and PowerLoom will support that,” Gandhi said.

According to the project, residents in the US and sanctioned countries will not be able to participate in the mint. 


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Post-conference musings on Firedancer, Kraken, Solana Mobile and Trump

article-image

Executives expect others to follow SharpLink Gaming’s lead in purchasing an asset that has surged this past month

article-image

After a weekend of tariff policy shifts, investors appear confident that trade deals are underway

article-image

Multiple rounds of prior audits did not catch the flaw, the DEX said

article-image

StarkWare launches new consumer-grade hardware ZK prover

article-image

Bitcoin’s creator may have had a powerful mining trick up his sleeve