EPNS Hits Ethereum Mainnet to Boost Links Between DeFi Projects and Users
The Ethereum Push Notification Service (EPNS) arrival on the mainnet may improve direct communication between projects and users.
By: Samuel Haig •Byte
The Ethereum Push Notification Service (EPNS) has launched on the Ethereum mainnet, enabling decentralized protocols to directly communicate with their users on-chain.
The protocol allows users to create, send, and receive multichain push notifications to crypto wallet addresses. EPNS investor Balaji Srinivasan tweeted his thesis for backing the team, describing the protocol as building a communication layer for web3.
“The idea is that emails and phones can both be man-in-the-middled by email providers and telcos respectively. But notifications to crypto addresses can’t be,” he wrote.
EPNS went live on Jan. 12 following more than one year of development.
Channels and Subscribers
The protocol is designed to cater to two types of users: “channels” and “subscribers” Channels are described as “dapps, users, and businesses” that want to send notifications to other network participants.
“For example, a media company can push out alerts for breaking news when a story is released,” said EPNS in a statement. “Or, a DeFi project can allow users to automatically receive notifications when their loans are closing in on liquidation.”
EPNS currently supports Metamask, Ledger, and Portis wallets.
Notifications can be manual or automated, with automated messages configured to respond to on-chain or off-chain information. Fifteen channels are live, including MakerDAO, Bancor, and The Crypto Volatility Index.
Anyone can create a channel using the EPNS application, although a user must provide at least 50 DAI to EPNS’ interest-generating staking pool on Aave. Revenue earned from the pool is used to incentivize subscribers.
Users can create three types of channels. “Open” channels can be subscribed by any user and can be browsed when live using the EPNS app. By contrast, the administrator of a “closed” channel invites accounts to follow it, while “mutual” channels allow administrators to accept or deny follow requests from users.
The protocol supports addresses across multiple chains, with EPNS Push Nodes relaying information across multiple networks. EPNS governance will exclusively take place on Ethereum.
The EPNS app is supported by iOS and Android devices. The team completed an audit with ChainSafe in October, and a token generation event last April.
The mainnet launch of EPNS has received praise from the crypto community, with commentator Richard Pickett asserting that “Twitter just got replaced.”
Daily Gwei host Anthony Sassano praised the EPNS team for their “infectious” passion for crypto, adding that they are “super committed to […] building something that is really needed in the industry.”
The protocol’s mainnet launch has also driven bullish momentum for its PUSH token, which is up 19% in the past 24 hours and 72% from its mid-December low.
PUSH last changed hands for $2.50 after pulling back from a local top of $2.66 and is the 745th-largest cryptocurrency with a $37M market cap, according to CoinGecko.