Proposal: PIP- 74 Paloma Foundation to distribute 1 Billion Grains to the Paloma LightNode Sale
Status: Proposed
Author(s): @BoweryKing
Type: Signaling Vote
Discussions-to:
Created: 07/25/2024
Simple Summary
The VolumeFi Software Team proposes to launch a Paloma Node Sale with 1 Billion GRAINs from the Paloma Foundation treasury. The Paloma LightNode Sale aims to expand the Paloma community by providing delegator software that will be run to delegate stakes across the network of validators. Increasing stake and security will allow Paloma to scale TVL and transaction volume with added security demanded to manage larger relay volumes.
The Paloma Foundation’s multi-sig wallet will manage funds from the node sale.
The Paloma Nodesale will be hosted on Paloma’s website at https://palomafoundation.com/nodesale
Motivation
- Distribute GRAINs from the Paloma treasury into staking applications on the network.
- Increase GRAIN rewards to Paloma validators
- Incentivize new validators to join the Paloma flock
- Establish Paloma Light Node for future development
- Increase relay volumes on the Paloma network
Specification Overview
The Paloma Foundation will transfer 1 Billion Grains from the treasury wallets to the LightNode Sale Module, which will distribute GRAINS to registered license purchasers.
Technical Specification
1 Billion GRAINs will be transferred from Paloma Foundation addresses paloma17t5pd5l0d8a3p54r0p92src8tx2tvs7l2afmd9 and paloma1vlrsw0hf6ddkje99jtnzh4raaa4dqpwqapeaz6 to Paloma module managing the LightNode Sale.
GRAINs will be minted on registered Paloma LightNode sale licenses. Each license will mint GRAINs over two years, linearly per block.
The Signaling Vote Proposal
{
“title”: “Paloma Foundation to distribute 1 Billion Grains to the Paloma LightNode Sale”,
“summary”: “Signaling vote to approve the request to transfer 1 Billion GRAINs from the Paloma Foundation addresses paloma17t5pd5l0d8a3p54r0p92src8tx2tvs7l2afmd9 and paloma1vlrsw0hf6ddkje99jtnzh4raaa4dqpwqapeaz6 to Paloma module managing the LightNode Sale”,
“type”: “Text”,
“deposit”: “10000000ugrain”,
“metadata”: https://forum.palomachain.com/t/pip-74-paloma-foundation-to-distribute-1-billion-grains-to-the-paloma-lightnode-sale/728",
}
The Signaling Vote CLI Command
palomad tx gov submit proposal
–chain-id=tumbler
–from
–node https://rpc.palomachain.com:443
–gas auto
–fees 400ugrain
-b sync -y
How to Vote on the Proposal
palomad tx gov vote 78 yes \
--chain-id=tumbler \
--node https://rpc.palomachain.com:443 \
--gas auto \
--from <Your Paloma Address> \
--fees 400ugrain \
-y
Rationale
With the launch of Pigeon Feed, the Paloma network will be ready to grow the flock. To attract new community members, Paloma will offer a security application called the Paloma Light Node. The Light Node will allow purchasers to secure the Paloma network and receive GRAINs in reward for their active staking, voting, and redelegating of stakes.
About Paloma
Paloma Protocol is a Cosmos-SDK blockchain protocol custom-built for the fastest cross-chain relay messaging and communication. Paloma allows permissionless control of any contract on any target chain.
Designed by Volume and run by a global network of validators, Paloma delivers the world’s first intelligently scheduled and automated smart contract transaction execution for the Cosmos ecosystem. The protocol enables developers to remotely control value transmission with a fast and secure decentralized network of validators.
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