Volume AMA: Paloma Gravity Bridge Update & More Palomabots

Taariq Lewis @LewisTaariq, CEO of VolumeFi (volume.finance) talks about Volume and Paloma updates in this week’s AMA episode. Following the major upgrade to Cosmos SDK 50 and chain halt last April, Paloma continues with recovery work, debugging, testing, and addressing issues ensuring that the new version will be competitive and faster, and enable stress-free trade execution on all target chains.

Gravity Bridge and Compass are being upgraded to support multiple chains and will undergo testing and deploying GRAIN tokens across all target chains in public testnet.

Curve’s Limit Order bot launched on Arbitrum and Ethereum with firm plans to deploy to more chains. Leverage bots, Price Prediction bots for Llamalend, and TWAP bots are undergoing more testing and debugging.

Volume is providing support for the Nectar team to build a stablecoin using GMX and short funding rates.

As Paloma takes flight into blockchain and AI space, a partnership with Cudos is in the brew and announcements will be made next week.

The host welcomes everybody to Volume’s Twitter Spaces. He shares a brief background about Volume.

He shares some of the goals of Volume.

Taariq reports that the Paloma network continues with recovery work, addressing issues, debugging, and testing following the chain halt last April. Bugs in the leverage bots for repayments are being resolved.

The work on Price Prediction bots which are based on Llamalend has begun. Llamalend however is being upgraded which is contingent upon the Paloma upgrade.

The team is now focused on TWAPs that can execute trades and reduce slippage.

Liquidations on Llamalend require liquidation logic so that when leverage positions are in soft liquidation, users are able to start new bots. The aim is to be able to start new bots even while in soft liquidation so that users can continue using the same wallet to create a new position. The work requires for contracts to be upgraded as well as the functioning logic of Volume bot contracts.

Taariq announces the launching of Curve’s Limit Order bot on Arbitrum and Ethereum today.

While the aim is to deploy to more chains, users can now execute intents on Curve Limit Order bots.

On the dApp side, decisions on the gas limit amount will be moved to governance. The initial design which used a 1.2 multiplier was found to be too conservative. As gas prices have gone up, the increase to 1.5 will require a chain halt for Pigeon to be upgraded and a required minimum on Paloma.

The Pigeon upgrade will require Paloma to upgrade which will include refactoring Gravity Bridge to support multiple chains. This means that there will be a Gravity-based nonce for each target chain. The multiple chain nonces will be supported by a new Compass which will also require an upgrade. The new Compass will have to be redeployed after the Paloma upgrade.

After upgrading Compass, and Paloma for Gravity Bridge, Taariq states that this will undergo testing and deploying GRAIN tokens across multiple chains and tracking them.

Once completed, Paloma will be upgraded to support validator features that will be shared in the Wings reports. These new features will prevent validators from getting jailed when their RPC endpoints are pruned. This brings evidence that RPC endpoints are changing and Paloma Pigeons need to be able to fall back on alternative RPCs if their RPCs are not working.

A new Paloma release will be coming shortly with improved testing coverage using mainnet state to test upgrades and test governance on private testnet.

More validators are encouraged to join the public testnet which is now live.

He assures that all these testing and upgrades will ensure that Paloma can be competitive, faster, and less stressful for executing trades on all target chains.

Volume is providing support for the Nectar team to build on Paloma.

“They’re building a stablecoin using GMX and short funding rates. We’re super excited to help them. They’re cranking away.”

All open-source GitHub repos are open to the team so that they can build their GMX functional stablecoin.

Taariq welcomes Luis Carvalho to the Volume team. His contributions will be a part of the upcoming Paloma release within the week.

The team will continue to work through the issues and upgrades as the network gears up for the increase in demand for the Bitcoin ETF and the Ethereum ETF.

Volume is looking to do more in the AI and blockchain space and anticipates the upcoming partnership with Cudos. Announcements will be made next week.

Stay tuned for the next AMA!

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