PIP-108: Set Upgraded LightNode sale contracts for Paloma LightNode Sale Demand Curve
Status: Proposed
Author(s): @BoweryKing
Type: EVM Proposal
Discussions-to: PIP-108: Set Upgraded LightNode Sale Contracts for Paloma LightNode Sale Demand Curve
Created: 10/25/2024
Simple Summary
Vote to upgrade the Paloma LightNode sale contracts addresses to support reducing the price of LightNodes, while reducing the amount of GRAINs mined per node. This will allow the Paloma Foundation to increase the number of LightNodes sold per slot and make LightNodes more accessible to a larger community. Also, this proposal includes the launch of Paloma LightNode Affiliate Marketing Contracts. A community vote is required to launch these new Paloma LightNode sale contracts as the reference on-chain contracts.
Abstract
After one month of the Paloma LightNode sale, the Paloma Foundation believes that it has discovered the demand curve for the Paloma AI LightNodes. Sales of the Paloma LightNodes peaked at a price of $75 per node. Given the decline in sales at the $150 node price, the Paloma Foundation believes that is found the emand curve for Paloma LightNodes. As such, the Paloma network needs to adjust the node sale price tiers with new contracts to capture more users at the lower price points.
The Node Sale smart contract current state and the adjustments are as follows
| Current Sale Parameters | Proposed Sale Parameters | |
|---|---|---|
| Implied FDV | $16MM | $52MM |
| Starting Slot | 4 | 5 |
| Nodes per Slot | 884 | 5,088 |
| Grains Mined Per Node | 50,000 | 5,000 |
| Slot Price Per Node | $138 | $40 |
| Mining Duration | 2 Years | 2 Years |
| Affiliate Promo Codes | None | Yes (3 Per User) |
Motivation
The Paloma Foundation wants to recapture the volume of Paloma LightNode sales that maximized distribution of Paloma LightNodes as well as grain mining activity on the Paloma blockchain. The more LightNode owners, the larger the Paloma community.
To achieve this goal, Paloma Foundation’s LightNode sale will adjust the price of Nodes to increase uptake of individual purchases. In addition, to protect early purchasers and current FDV, the GRAIN mined per node will decrease on-chain.
Thus, the Paloma LightNode sale contracts were updated to allow for an updated tier schedule for nodes to allow a lower price point and larger number of nodes. Therefore, the Paloma LightNode client contracts need to be set again in Paloma via governance from the community vote.
The community will vote for this upgrade. As such, we are motivated to have the community weigh in on this proposal.
Specification Overview
Update the following contracts via governance:
- LightNode sale vyper contracts:
- Arbitrum: 0xbD2c6F718Ee724884E536be3Fa6Ca5b3E0D1Be36
- Ethereum: 0x92aB2012738039AB10E684B010053168f9c1A7E5
- BSC: 0x25BF3E67ccF137BCacEAf529e5b68052Cca38915
- Polygon: 0x25BF3E67ccF137BCacEAf529e5b68052Cca38915
- Optimism: 0x2f78AfAdD7E58052c4a8789dc01A1eD49848cc0C
- Base: 0x25BF3E67ccF137BCacEAf529e5b68052Cca38915
Technical Specification
Run the governance commands to set the Paloma LightNode vyper contracts
palomad tx gov submit-legacy-proposal skyway set-light-node-sale-contracts '{"arbitrum-main":{"contract_address":"0xbD2c6F718Ee724884E536be3Fa6Ca5b3E0D1Be36"}, "eth-main":{"contract_address":"0x92aB2012738039AB10E684B010053168f9c1A7E5"},"bnb-main":{"contract_address":"0x25BF3E67ccF137BCacEAf529e5b68052Cca38915"},"matic-main":{"contract_address":"0x25BF3E67ccF137BCacEAf529e5b68052Cca38915"},"op-main": {"contract_address":"0x2f78AfAdD7E58052c4a8789dc01A1eD49848cc0C"}, {"base-main":{"contract_address":"0x25BF3E67ccF137BCacEAf529e5b68052Cca38915"}}' \
--title "PIP-108: Set Upgraded LightNode sale contracts for Paloma LightNode Sale Demand Curve" \
--summary "Vote to upgrade the Paloma LightNode sale contracts addresses to support reducing the price of LightNodes, while reducing the amount of GRAINs mined per node" \
--deposit 10000000ugrain \
--fees 300ugrain \
--gas auto \
--from <From Paloma Address> \
--chain-id tumbler \
--yes
If the proposal passes, the account addresses will be set and used for the LightNode sale.
How to Vote on Proposals 135
**Paloma Client:**
palomad tx gov vote 135 yes \
--chain-id tumbler \
--from <Your Paloma Address> \
--fees 400ugrain \
--node <Your node> \
-y
**Paloma LightNode Users of V2 Only:**
1. Windows
docker run --rm --pull=always -ti -v $env:USERPROFILE\paloma-lightnode\.paloma:/root/.paloma palomachain/lightnode-client:v2 vote-proposal 135 yes
1. Mac, Linux & VPS
sh $HOME/Downloads/setup.sh vote-proposal 135 yes
Rationals
Lower priced Paloma LightNodes will encourage the growth of the Paloma flock as more users spend less to join the Paloma nest. Increased distribution of GRAINs will result in increased transaction volumes on chain as well as increased application development and fee growth on the Paloma network.
If Paloma’s community wants more users to onboard Paloma, this is the most immediate the community can make to spur growth.
About Paloma
Paloma wants to be the fastest relay chain in the world with the most decentralized network of validators that can attest to any transaction with the fastest possible execution. Paloma aims to make it easy for developers to control smart contracts on any Solana, Ethereum L1, L2, and L3 chain.
To learn more about Paloma, please visit https://palomachain.com
To follow the project on Github, please star the project GitHub - palomachain/paloma: The fast blockchain messenger protocol
To participate in the community, please join the Paloma Discord: Paloma