VolumeFi CEO Taariq Lewis @LewisTaariq shares weekly updates on Volume and the Paloma Chain in this week’s AMA episode.
The recent Paloma upgrade to version 1.14 integrates Gravity support to multiple chains and fixes the EVM gas limit. As the team continues with Gravity Bridge refactoring work, Paloma version 1.15 to be released next week will incorporate the final changes to pave the way for Pigeon Feed Pigeon and the launching of the GRAIN token on target DEXs. All transactions will be prepaid and message relays will be prioritized based on validator performance and the lowest cost.
All Volume and Palomabots continue to be upgraded including leverage trading bots with automated repayments, Llamalend bots using Curve’s soft liquidation strategy, and Uniswap V3 Limit Order bots. Paloma heads to GMX next week with a new grant proposal for Pigeons to manage GMX short-funding trading.
Tailored, Volume’s first AI project will be announced in next week’s AMA.
Taariq welcomes everyone to Volume’s Twitter Spaces. He shares an overview of Volume.
While Volume continues the work on payments and trading bots that run on the Paloma chain, the main focus is building remote-controlled AI bots.
The recent Paloma Chain upgrade to version 1.14.0 brings multi-chain Gravity support and fixes the EVM gas limit.
This enables users to mint multiple tokens on multiple chains while keeping track of tokens on each chain.
The gas limit set to 1.5 will be moving into governance. There will be a minimum vote to upgrade, and when consensus is reached, all validators will update, removing the need to force a chain halt with the minimum upgrade. Hard-coded variables and TX-opt types will be pushed into governance as well on the Paloma side so the network can vote.
Paloma’s upgrade to Cosmos SDK 50.6 also brings governance and vesting improvements.
As the team continues with the Gravity Bridge refactoring work, Taariq announces the release of Paloma version 1.15 next week which will integrate the final changes and updates for Gravity.
Pigeon Feed will get into production and clear the way for the launching of the GRAIN token on the target DEXs. It has taken over a year for the chain to arrive at this juncture, and once Pigeon Feed is unleashed, everyone can finally build on Paloma.
Volume has been subsidizing gas on all the target chains up until this point, and this is the reason Paloma continued with a soft launch for testing. After working through gas price realities from 3 Gwei per byte all the way up to 90 Gwei per byte, Paloma and Pigeon are robust enough to handle any variation of those two.
Taariq congratulates all the validators who have stayed with the network even though the GRAIN token has not launched. He states that there might be an oversupply of validators and security, but there is no oversupply of cross-chain relay execution.
Users will prepay for all their TXs once Pigeon Feed is deployed.
There will be a balance of gas for users to ensure that gas is always available. If there is an overpayment on gas, the user will have free transactions going forward.
All Volume and Palomabots continue to get upgraded. Volume’s Leverage Trading bots have the most demand with transactions peaking between $75k-100k in the past week alone. He cautions everyone however that the Leverage bots are still being debugged.
Taariq explains that leverage bots will stay in demand as Bitcoin prices have retracted. Inflation numbers in the U.S. appear stable at around 3.3% year-on-year as of May indicating that the market is getting excited and industry cuts are coming. This is the best time to get into leverage, he explains, when prices are dropping. He assures that the bots, especially for leverage, will be launched soon.
Volume is using Curve’s soft liquidation strategy to make sure that users’ positions do not get liquidated.
The team is working on the liquidation logic for Curve’s Llamalend bots on Curve.
Volume is working on GMX which is a week away from launching. There will be announcements next week about the launching of new bots.
Taariq thanks the Volume and Paloma community for tuning in on today’s AMA episode. He encourages everyone to look out for Paloma release 1.15.0 next week, and the announcement of Volume’s first AI bot, Tailored.
Stay tuned for the next AMA!
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