In this week’s AMA episode, Taariq Lewis @LewisTaariq, CEO of VolumeFi (
) takes a deep-dive into Paloma and Pigeon V1.10 which introduces Pigeon operator keys allowing validators to use multiple signing keys to relay more messages in one transaction block on the Paloma network. The new version also includes fixes to the Gravity Bridge to prepare for the launching of the GRAIN token.
The upcoming upgrade of the Compass-EVM to automatically deploy to all six chains will require a redeployment of all Palomabots to restart bot activity. Once Compass-EVM is deployed, another round of 0.1 ETH will be airdropped to all active validators on the mainnet to help with rising gas fees.
Pigeon Feed enabling validators to set their own fees for relaying messages is top of the agenda for the remaining part of the year.
Fueled by the successful launch of Paloma and Curve bots which yielded over $14K in volume, and the early success of the Gnosis Euro Swaps which earned $100K in transactions last weekend, Volume will continue to build more bots to demonstrate real use and real value.
Taariq welcomes everyone to Volume’s Twitter Spaces. He shares a background about Volume.
He adds that Paloma is validator-centric, and the goal is to enable more revenue and profits for validators.
Taariq announces the upgrade to Pigeon V1.10 introducing Pigeon operator keys and other enhancements for target chain communications.
Communicating across chains is message-intensive. Coming from the vision for this message economy, Paloma wants to ensure that Pigeons can handle a message as well as monitor RPC endpoints on every chain supported by Paloma, namely, Ethereum, BNB, Gnosis, Base, Arbitrum, and Optimism. He shares the vision for validators where they can do more work.
The introduction of Pigeon operator keys will allow validators to relay as many messages as possible in one transaction block on the Paloma network without account sequence mismatch issues.
With Pigeon feed, validators will be rewarded on the number of messages they send. They can make money for as many transactions per block as the block size is filled.
This new feature has been tested in a private testnet where it worked flawlessly. However, an issue was discovered in testnet that caused stuck transactions in the Paloma mempool. The team is currently investigating the bug which might be caused by an artifact of a priority mempool issue or the migration to the new consensus layer, CometBFT.
Taariq shares that they are engaging the services of the Vitwit team as Paloma upgrades to Paloma to Cosmos-SDK V0.50 and CometBFT 0.38.
Taariq shares that Pigeon V 1.10 also improves on the Gravity bridge. He explains that Gravity works in two ways. One is used in arbitrary logic calls to execute bots while the other is batching which is the movement of tokens across the network. A bug was discovered in one of the batches which was sending the same token in an infinite loop.
This happened during mainnet testing where Pigeons were unable to verify the event nonce due to the speed of the network. The fix has been shipped and there will be a new event nonce on the Compass EVM contract so that Pigeons can track and attest to that nonce and that the GRAIN token has successfully crossed the bridge. This upgrade requires the redeployment of Compass EVM with the new vision of Paloma and Pigeon.
Compass-EVM is being upgraded to automatically redeploy to all six chains. The deployment will be successful if all validators have RPC endpoints that are working.
While Taariq points out that Volume does not want to centralize validators across one RPC endpoint provider, Pigeons need to stay alive because testing and running data centers cost money.
He encourages everyone to get on board and check out Nodies. Nodies offer free RPC endpoints for Paloma validators. With the new Compass-EVM, all Paloma and Curve bots will be brought back and redeployed pointing to the new contracts to take advantage of the new pigeon key functionality.
Taariq announces that another round of ETH will be airdropped to all Paloma validators. For the first time in the history of the network, many bots were failing because of insufficient gas. The 0.1 ETH that validators had to pay for gas was not enough due to rising gas prices.
It will be an open-air drop to all active validators. This will help when the bots come back online so that validators can handle the higher gas fees.
Pigeon feed is next on the agenda for November, which gives control of setting fees over to the validators.
Users will be able to buy GRAINS in a pool and then pay for relaying messages. Validators can sell GRAINS in a pool to pay to maintain their data centers.
As Paloma continues to ship more upgrades and redeploy Compass-EVM, Taariq sets goals for Volume and Palomabots.
He notes that being able to deliver more volume on the bots means that the network is getting a workout with real use.
He cites the soft launch of the Gnosis bot EURe last week yielded $100k in volume, by far the fastest and most successful bot without much push. He believes that bots that can off-ramp to euros are going to be big so they will continue to build them.
He stresses that as more people are informed about how Palomabots work, more people will want to use them.
More bots are in development and will be launched after undergoing testing. He mentions his excitement about the collaboration with Curve to keep building bots. The Curve bots are TWAP and Limit Order, and Gnosis Off-Ramp bots which are being improved to do TWAPs.
Taariq gives special thanks to validators on the testnet and mainnet for their contribution to the network.
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
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