In this week’s AMA episode, the host, Taariq Lewis @LewisTaariq, CEO of VolumeFi (
volume.finance
), revisits the milestones of Paloma bots and Curve bots which garnered $7.5M in transactions in just three months. As the Paloma Network undergoes upgrades and fixes, plans to scale Paloma to new heights are discussed from Pigeon operator keys: allowing validators to send multiple messages in a block, to improving validator performance and throughput speed to differentiate itself from the crowded blockchain ecosystem.
The Python SDK goes through an upgrade as well that will include the new message attribution feature tied to GRAINS. Paloma Compass-EVM has been successfully deployed to all mainnet chains, including Ethereum, BNB, Gnosis, Base, Optimism, and Polygon.
The team continues to grind away with engineering and development work in preparation for the nearing deployment of GRAINS to mainnet.
Taariq welcomes everyone to Volume’s Twitter Spaces. He gives a brief introduction about Volume Finance.
He adds that another goal is to use bots to manage private keys on multiple chains and enable more automation for the bots in the entire crypto community. The final and most important goal is to help validators generate profits.
Taariq prefaces the topic by noting that there is an oversupply of blockchain space in the crypto ecosystem. It takes hard work to help validators find a reason for block space.
He offers the winning metrics following the successful launch of Palomabots.
He emphasizes this TVL was not incentivized, and that no GRAIN tokens were given. There were some competitions to ramp up usage such as the Palomabot sweepstakes which opened with an initial prize money of $10,000 going up to $30,000 for the 300th user. He thanks everyone who participated in the sweepstakes.
He cites that the biggest and most complex bots were created on Curve, where the Curve TWAP bot garnered the highest volume in transactions. He thanks the Curve team for using the bots and providing feedback on how to improve them.
Taariq notes that with the excess glut of block space across the entire world from every blockchain, Paloma will need to differentiate its block space as unique and rare in a world of high supply.
He believes that people will want to build on Paloma for its fastest throughput speed. Throughput is the number of transactions that can go through and speed.
With the success of the Palomabots soft launch that generated $7.5 million in transactions, Pigeons will need to improve performance and throughput.
The Paloma V1.10 upgrade fixes will prevent Gravity batches from failing on testnet due to the high speed of Paloma at one-second block time.
The Paloma Compass EVM has been successfully redeployed to all six chains on testnet and mainnet. These are Ethereum, BNB, Optimism, Gnosis, Polygon, and Base.
To enable Paloma to scale up volume, unjail scripts will be ending soon. These are used by validators who do not meet the required performance requirements to unjail nodes when Pigeon is faulted and unable to either confirm RPC endpoint is active, or when target chain balances fall below the minimum.
Validators who do not have properly operating Pigeons are unable to deliver messages on time which compromises the reliability and performance of the Paloma network.
When a mission-critical trade or TWAP that needs to happen gets to a Pigeon that is failing poses a critical problem for the entire network. A cooling-off period is being prescribed to allow the validator to fix the problem.
Taariq encourages all validators to use Nodies who offer free RPC endpoints for Paloma.
Custom mempools that were implemented to remove account sequence mismatches and allow pigeons to send more messages with transaction prioritization are being reevaluated. The team continues to work on this issue which was a part of the Paloma V1.10 release. Once the mempool issue is resolved, validators can begin to use Pigeon operator keys.
Taariq encourages all validators to use Pigeon operator keys allowing them to make more transactions in a block.
The Python SDK used by Paloma for communicating is currently being upgraded.
The new SDK upgrade will include the message attribution feature allowing the network to know which validator operator keys are sending a message to attribute GRAINS to every message.
Once upgraded, all Paloma and Curve bots will be redeployed and undergo stress testing.
The GRAIN token cannot be deployed until all new fixes are up. The team will deploy the GRAIN token batches on the testnet to make sure that they work. Taariq assures that GRAINS on mainnet is coming.
Once the GRAIN token is deployed, the bridge tax of around 10% will be implemented.
The GRAIN tax amounts will be on governance and a 10% tax will be rewarded those who stay and make sure that the network is secure.
Taariq reiterates the goal of making the network profitable for all Pigeons.
He thanks everyone who tuned in, especially the community of validators, and assures everyone that the Paloma network is stable, and the flock is solid.
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!