In this week’s AMA episode, Taariq Lewis @LewisTaariq, CEO of VolumeFi (
volume.finance
) talks about the infinite opportunities in blockchain and AI space for the Paloma Network. From AI tools, DePINS, GPU access, and human data collection to storage, Paloma is exploring the best fit among AI and blockchain companies for potential partnerships and building AI bots in the future.
The transition of Paloma to the best version of Cosmos SDK presents new challenges as the team continues to work through AppHash issues and consensus failures following the upgrade last week. The vote for a chain halt and upgrade to Paloma v1.13.1 will come with fixes for IAVL, Comet BFT, and UpgradeHandler. Volume bots remain offline while relay reliability issues are also being resolved. Once Cosmos SDK 0.50.5 is successfully deployed to mainnet, Paloma will begin to reap the benefits of the upgrade, allowing for optimistic execution, cutting-edge speed, and throughput at par with leading blockchains in the Cosmos ecosystem.
The work on Pigeon Feed continues so that validators get rewarded for message relays. Once completed, the Paloma GRAIN token will be deployed on all target chains. It is expected that there will be price discovery on GRAINs as usage and demand increase over time.
Taariq welcomes everyone to Volume’s Twitter Spaces. He shares a brief about Volume.
He also underscores Volume’s focus on adding and increasing revenue for validator profits. While validators are being refunded in ETH, the race is on to get them rewarded for supporting the network.
Paloma Network’s recent upgrade to Cosmos SDK 50.5 worked flawlessly on private testnet. However, attempts to upgrade to testnet and mainnet revealed new challenges from consensus failures and AppHash issues that are keeping validators off-chain.
The Comet BFT and Cosmos teams have been working all week to get the fixes up. Taariq shares that Cosmos dXdY, a multi-billion dollar chain, was forced to chain halt after experiencing the same problems. The vote for a Paloma Chain halt and upgrade to Paloma v1.13.1 is scheduled for Thursday. This will upgrade IAVL, Comet BFT, and UpgradeHandler to address consensus failures, AppHash errors, and relay reliability issues.
The host underscores the need for all validators to be able to return to the network.
Taariq explains that these challenges are a part of Paloma’s transition to the best version of Cosmos SDK.
Optimistic execution will allow Paloma to execute transactions in parallel, at the same speed and throughput of Sei and Injective as the network scales relay messaging.
Taariq announces that plans are underway to fire up a new public testnet. GRAIN grants are being arranged from the Paloma Foundation for validators who will support Paloma’s testnet.
Volume bots are offline while relaying issues are still being resolved. As soon as relaying reliability is guaranteed, the bots will be back up and more bots will be launched.
The work on Pigeon Feed continues so that validators get rewarded for message relays. Taariq assures that when everything goes back to normal, and once Pigeon Feed is completed, the Paloma GRAIN token will be deployed on all target chains.
There will be a Gravity Bridge tax for users bridging from Paloma to the DEXs to trade out GRAINS for ETH or any other token. The Bridge tax will then be redistributed to stakers so that users and validators who keep their GRAINS on Paloma are rewarded.
Pigeons will get paid in GRAINS for relaying messages. This means that GRAINS will be listed on decentralized exchanges because it is a forcing function to the network.
There will be price discovery on the GRAIN token as more users come to Paloma. It is not expected to be high because of the network’s low inflation rate.
As Paloma becomes an automated full-fee market relay network, and with the increasing demand and interest in AI, Taariq shares that Paloma is exploring areas where it will fit best. He explains the categories of AI tools and services.
AI tools can range from an AI rendering tool to Bittensor’s subnets. He also talks about DePins or Decentralized Physical Infrastructure Networks, including decentralized network access with apps like Helium.
GPU access with providers such as NVIDIA, Akash, Render, and
is another category of AI. From a bird’s eye view, Taariq mentions that GPU access might be where Paloma can land by automatically provisioning customized models for users.
Human data collection is another category and he cites Stepin, Sweat Economy, and Worldcoin as examples. They can be used to build AI foundational models for everything from labeling to creating clean data or bigger data sets.
Lastly, storage is another AI tool with companies like Filecoin, Ocean Protocol IoTeX, and Arweave in the forefront.
Paloma is looking to reach out and enter into partnerships with AI and blockchain companies where Pigeons can help to make it easier for people to use their tools. Taariq cites the vital partnership with Curve where Palomabots helped make the Curve protocol more usable.
Once Pigeon Feed is live, the goal is to let people build their own bots and let people see how they can use bots in AI.
Everything will be open-source, Taariq emphasizes, as in the case of Volume bots that run on Paloma. Users and developers will have access to the code and can build on them.
Taariq assures that Paloma’s protocol team and Volume are singularly focused on getting the network back up. He looks forward to getting Pigeon Feed online soon so that validators can get rewarded for relaying messages. The GRAIN token will be deployed on the EVMS and DEXs. There will be price discovery and there will be usage.
Stay tuned for the next AMA!
To find out more about Volume, check out Volume Finance (
), join the Discord (
), and follow us on Twitter (@Volumefi). Check out Paloma Chain on
(
), follow them on Twitter (@palomachain), and join the flock on Discord (
). Coo!