Proposal: PIP-113: Paloma Mainnet Upgrade to Paloma v2.4.0 Token Factory
Status: Proposed
Author(s): @BoweryKing
Type: Software Upgrade
Discussions-to: PIP-113: Paloma Mainnet Upgrade to Paloma v2.4.0 Token Factory
Created: 12/13/24
Simple Summary
This is a software upgrade proposal for Paloma to v2.4.0 Paloma’s MAINNEST tumbler network. This release includes an addition of the Paloma Token Factory and creating new token denoms and CW-20 bindings for Paloma’s Got Talent Bonding Curve. Paloma Token Factory works with the Paloma Skyway Bridge allowing all new denoms to flow to any EVM supported by Paloma, as well as to Solana, supported by Wormhole and LayerZero.
Abstract
Paloma currently lacks the ability to scale token production on its appchain outside of Cosmwasm. As such, Paloma is unable to launch its Paloma’s Got Talent launchpad for tokens to bridge to EVM and Solana.
This is a software upgrade proposal for Paloma to v2.4.0 Paloma’s MAINNEST tumbler network. This release includes a the addition of the Paloma Token Factory and creation of new token denoms and CW-20 bindings for Paloma’s Got Talent Bonding Curve. Paloma Token Factory works with the Paloma Skyway Bridge allowing all new denoms to flow to any EVM supported by Paloma, as well as to Solana, supported by Wormhole and LayerZero.
Motivation
The motivations for this Paloma upgrade include the following:
- The addition of the Paloma Token Factory will permit the creation of new token denoms and CW-20 bindings for Paloma’s Got Talent Bonding Curve. Paloma Token Factory works with the Paloma Skyway Bridge allowing all new denoms to flow to any EVM supported by Paloma, as well as to Solana, supported by Wormhole and LayerZero.
Specification Overview
The specification for this release includes the following features:
This change adds a token factory module that extends Paloma with the following features:
- New tokens may be created by anyone
- Tokens can only be minted by the admin of the token (by default, the creator of a token is the admin)
- Tokens can only be burned by the admin of the token
- All data is respected for genesis import/export
- Skyway registrations against user tokens do not require governance
- Tokens can be bridged outside of Paloma
- Creating a token costs 10 GRAIN
Technical Specification
Paloma
Paloma v2.4.0 upgrades include the following:
Pull request: feat: add token factory module by byte-bandit · Pull Request #1318 · palomachain/paloma · GitHub
Prior to upgrade
- An upgrade proposal that must be submitted by anyone running a node on the network. This proposal should have the correct block height.
- Please use the following tool to calculate the approximate Block Height: Huginn - PalomaChain Release Window Planner
- This upgrade proposal requires 10 GRAIN or 10000000ugrain for deposit for voting.
- IMPORTANT: The
upgrade heightis the block height where the chain halts and requires the upgrade. Allow at least one (1) day AFTER voting end time andupgrade-heightfor 2/3 of the network to have downloaded the new binary and prepped for the switch over to avoid/minimize downtime of the Paloma chain. - The Target block height for chain halt for this proposal is tentative 25320153 ****or approximately
12/16/2024, 7:00 UTCSee (Block height: Block 28740809 Details - Paloma (GRAIN) Blockchain Explorer
palomad tx gov submit-proposal ./pip-113.json \
--gas auto \
--fees 1500ugrain \
--node=https://rpc-1.paloma.nodes.guru/ \
--chain-id tumbler \
--from <Your Paloma Address> \
-b sync
pip-113.json
{
"messages": [
{
"@type": "/cosmos.upgrade.v1beta1.MsgSoftwareUpgrade",
"authority": "paloma10d07y265gmmuvt4z0w9aw880jnsr700jz87xyk",
"plan": {
"name": "v2.4.0",
"height": "28740809",
"info": "",
"upgraded_client_state": null
}
}
],
"metadata": "ipfs://",
"deposit": "10000000ugrain",
"title": "PIP-113: Paloma Protocol Upgrade to Paloma 2.4.0 with Token Factory",
"summary": "This Paloma 2.4.0 release includes a the addition of the Paloma Token Factory and creation of new token denoms",
"expedited": false
}
pip-113_metadata.json
{
"title": "PIP-113: Paloma Protocol Upgrade to Paloma 2.4.0 with Token Factory",
"authors": [
"BoweryKing"
],
"summary": "This Paloma 2.4.0 release includes a the addition of the Paloma Token Factory and creation of new token denoms",
"details": "\"'{\\\"binaries\\\":{\\\"linux/amd64\\\":\\\"https://github.com/palomachain/paloma/releases/download/v2.4.0/paloma_Linux_x86_64.tar.gz\\\"}}'\"",
"proposal_forum_url": "https://forum.palomachain.com/t/pip-113-paloma-mainnet-upgrade-to-paloma-v2-4-0-token-factory/869",
"vote_option_context": "Vote YES to support running this binary to upgrade the Paloma Mainnest Network."
}
How to Vote on the Proposals 155
palomad tx gov vote 155 yes \
--chain-id tumbler \
--from <Your Paloma Address> \
--fees 400ugrain \
--node <Your node> \
-y
How to check if 2/3 of the network is online after the vote is complete
curl -s localhost:26657/consensus_state | jq -r ".result.round_state.height_vote_set[0].prevotes_bit_array"
—> needs to return ≥ ~0.67 for the chain to start up again
To see which validators are online with the new binary, use GitHub - blockpane/pvtop: top-like tui for watching validator pre-votes on Tendermint chains
Rationale
We are upgrading Paloma to achieve the following objectives:
- Add Token Factory to Paloma for Bonding Curve Paloma Got Talent Launch.
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