In this week’s AMA episode, the host, Taariq Lewis @Lewis Taariq, CEO of VolumeFi (
) announces another round of Palomabot sweepstakes starting this week. Paloma ups the ante to $30,000 for the 300th Telegam/Palomabot user. Participants must perform at least one transaction using Paloma bots in
. Read on to find out the mechanics of how to participate.
Taariq discusses upgrades and new releases on the Paloma protocol and the engineering side. Long-term solutions to prevent account mismatch errors that cause jailing will be in the next release. Extended Pigeon signing keys are being created to pave the way for Paloma to be the fastest message relayer in the Cosmos ecosystem enabling users to engage in DeFi high-frequency trading. Compass EVM is being upgraded as well with the introduction of new features and automates the migration of all the ERC 20.
Paloma partners with Liquify to provide low-cost RPC endpoints. This will be the first among other service providers to help reduce costs.
Taariq announces that Gnosis is coming to Paloma. Gnosis will allow Pigeons to host fiat rails off-ramping to Euros from all target chains.
The host welcomes the Paloma community and everyone tuned in to Volume’s Twitter Spaces. He gives a brief about Volume Finance.
He adds that Paloma builds bots that secure private keys and enable automation across any blockchain.
Paloma ups the ante as another round of sweepstakes kick starts this week.
Taariq shares an update on last week’s $20,000 sweepstakes.
There were 162 Paloma bot user registrations and 28 users with transactions. The prize money was going to the 200th user with a transaction. However, the number of users with transactions did not reach the target of 200.
The rules are simple. Participants must perform at least one TX with any Paloma bots in
and then start a Telegram bot at
. Users must key in their EVM address used in Palomabot/Curvefi. The 300th Palomabot user with a TX wins $30,000.
There are no transaction fees for October, but users have to pay for gas. Botting the registration is not allowed. All repeated accounts will be removed. The pot will keep growing until more people participate in the sweepstakes.
Claims from some users that were accidentally charged with transaction fees will be refunded, Taariq assures. If by any chance a transaction fee was charged, users can message Paloma on Telegram Telegram:
The $30,000 Palomabot sweepstakes will be running for another week. Taariq reiterates some reminders to qualify.
The host shares a postmortem on the protocol upgrade.
Account sequence mismatch errors blocked Pigeons from signing their keep-alives in time which caused jailing last week. The keep-alive window is 5 minutes while blocks were at 1.5 seconds. Taariq explains that it is possible that validators may have repeated retries that went outside the 5-minute window.
Paloma will be creating extended Pigeon signing keys exclusive for use in message relaying, separate from keep alive activities.
Taariq shares that the long-term solution is going to be something new to the Cosmos and any other Cosmos SDK chain. He emphasizes that ever since the Paloma project started, the goal was for Paloma to sign faster than any other chain.
Paloma will continue to leverage the distributed key-signing functionality of hierarchical-deterministic wallets, enabling Pigeons to sign more keys. Pigeons will be able to include more messages into a block, from attestations, signing, and verifying, to keep alive messages.
Compass EVM is undergoing an upgrade and full migration. Taariq explains that the Compass EVM is deployed to target chains and acts as the control client that communicates to contracts. He cites the sweepstakes as an example.
Upgrading the Compass EVM is necessary as new features are introduced and to automate the migration of all ERC 20s.
Taariq states that it is critical to undertake continuous upgrades on Paloma so that stop time is reduced to a minimum.
As Paloma aspires for decentralization, more work is being done on preserving network liveness if major validators go offline. Paloma has delegated stake to validators to keep the network running.
Taariq maintains that the upgrades make the flock more resilient every day, and the network stays alive and becomes more valuable.
As a service to the community and to keep costs down, Taariq announces the partnership with Liquify to offer low-cost RPC endpoint services. He encourages validators to check them out and negotiate for the lowest price. Announcements and links will be posted on Discord and Telegram.
He adds that this partnership will be the first among several others that will compete to provide low-cost RRC endpoints to validators.
Taariq gives a heads-up to validators that Paloma is going to Gnosis.
Paloma will be building bots so users will be able to do transactions straight to Euros.
He shares his excitement that with Gnosis, Pigeons will be hosting fiat rails off-ramping into Euros from all target chains.
Taariq thanks all the validators and the Paloma community for keeping the network alive. The continuing upgrades and improvements while temporarily blocking Pigeon feed will pave the way for lowering costs and increasing volume. He assures that more jailing relief solutions are coming in the next release.
He invites everyone to join the Palomabot sweepstakes. The $30,0000 pot is up for grabs for the 300th user.
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 (