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Push Protocol launched V2 of its app on Aug. 2, introducing an update that adds several new social and reward features to the application.

The latest update notably introduces Push Spaces, which the project has described as “the web3 version of Twitter Spaces.” This feature allows users to participate in live audio calls, just like the equivalent feature on Twitter (now X).

Push V2 also introduces a feature called Incentivized Chat, which allows users to impose a one-time fee for receiving chat requests in order to prevent ads and spam messages. V2 also introduces support for customized profile pictures.

The latest update includes new opportunities to earn yield farming rewards in the form of the project’s native PUSH token. Specifically, V2 includes two new staking pools. The first is the Push Fee Pool, which allows staking users to earn rewards drawn from social action fees; the second pool allows users to stake UNI-v2 LP tokens.

Push Protocol aims to empower users and incentivize participation with these features. They are designed to facilitate a “circular economy,” a model where stakeholders share control and resources are continually cycled back into the system, promoting sustainability and user engagement.

It further noted that the new features are meant to extend the user experience (UX) of decentralized applications and added that this will allow for new integrations.

PUSH maintains $9M market cap amidst downturn

Push Protocol is an open communication layer that aims to support communication, notifications, and messages across multiple blockchains, and across decentralized apps, wallets, and blockchain services.

The app otherwise offers basic messaging features. It connects to Metamask and wallets that support the protocol Wallet Connect and is available for iOS and Android.

Despite the positive news, Push Protocol experienced slight losses today, reflective of a broader market downturn. The entire crypto market dipped by 0.4% over the past 24 hours, while PUSH saw a slightly higher dip of 1.2%. This parallels the performance of other similar tokens.

The PUSH token currently has a market cap of $9.3 million.

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