DeNet Q1 2024 Results
DeNet concluded the first quarter of 2024 with a series of notable achievements and advancements, marking a remarkable kickoff to the year. This period was characterized by significant growth and innovation across various aspects of the ecosystem. Let’s delve into the key highlights and numbers from DeNet’s Q1 results.
Numbers
- Opened storage deposits reached 4 PB (including 2.3 PB from the Store&Earn program);
- Number of participants in the Store&Earn program increased by 160%;
- Datakeepers network expanded by 227%, with the total number of 49;
- Discord community expanded by 55%;
- Engagement within the community surged by 143%.
Updates
One of the most important updates in Q1 was the Store&Earn program rebalancing. The program was updated following a 1.7 PB ($110k) of deposits milestone to ensure the growth and security of the DeNet Storage Protocol. After a crucial rebalancing, technical changes were implemented to enhance the program. Here are the main highlights:
- 250k DE tokens to be distributed;
- Introduction of dynamic Balance reward;
- Updated boosts with a maximum of 10;
- Changes to the referral reward.
The program’s updated rewarding system, based on individual contributions, was positively received by the community and continues attracting even more members.
In Q1, DeNet Storage experienced numerous upgrades, culminating in the release of v. 1.14.1. Beyond the enhancements in UX&UI, application stability, and bug fixes, improvements include:
- A resolution to user-reported payment issues;
- Enhanced file search functionality;
- Language optimization within the app.
Most notably, there was a 20–30% increase in upload speed. As a decentralized storage solution, the app is continuously improved to ensure users enjoy the most seamless experience possible.
DeNet Payments update improved performance and added features for Datakeepers, such as activity display, rental period, and security warnings to assert their ID, ensuring a smoother and worry-free node management experience.
The DeNet website now features a new section: Datakeepers. This section offers public analytics of the Datakeeper network, designed to increase transparency in DeNet’s development. The current version presents the status of nodes, the shared capacity, and a map of the Datakeeper network.
- Store&Earn Web version
The web version of Store&Earn is currently in beta testing and is set to launch soon. Developed in response to the community’s demand for more accessible program options, the web-based Store&Earn program will offer convenience and accessibility for a variety of tasks
New collaborations
In the first quarter, DeNet Storage Protocol welcomed two new partners.
- Cedro, an innovative omnichain modular liquidity protocol, streamlines the process of lending and borrowing assets across multiple chains.
- R Games, a fully customized gaming platform, is powered by our friends at Fabwelt.
We are currently investigating potential synergies to provide benefits to our communities.
DeNet File Token
In Q1 the DeNet File Token ($DE) garnered significant attention in multiple segments, emerging as the top performer in these categories on CoinGecko:
- Top Storage Coins
- Top DePIN Coins
- Top Infrastructure Coins
- Top Polygon Coins
DE token was also listed on a crypto market data aggregator Cryptorank > https://cryptorank.io/price/denet-file-token
Ambassador program
The Storage Gurus are consistently delivering exceptional work, and the Ambassador network continues to expand. We have now reached a total of 90 Ambassadors, with 38 new members in Q1. This dedicated team has created 172 pieces of different content to capture attention and promote the DeNet Storage Protocol. About the program > https://medium.com/denetpro/get-up-to-10-000-for-being-storage-guru-ambassador-program-upgrade-a1f8a01e1a40
We wish to highlight the contribution of Nordic Crypto, the owner of a cryptocurrency-focused YouTube channel. He has produced a very detailed video, offering his insights on DeNet, running a Node, and the Store&Earn program. By the time this article was published, the video had already gained an impressive 12,000 views! We extend our best wishes to Nordic Crypto in his professional endeavors and strongly encourage everyone to view the video dedicated to DeNet > https://www.youtube.com/watch?v=R5C8NnUdvcE
The year began on a high note, marked by a productive first quarter. DeNet consistently hits new milestones, bringing the mass adoption of decentralized storage ever closer. We have grand plans for 2024, fueled by ambitious goals and innovative ideas.
