In this week’s AMA episode, Taariq Lewis @LewisTaariq, CEO of VolumeFi (
) talks about Paloma protocol updates highlighting the value of Pigeon operator keys that enable validators to relay more messages and earn more rewards. Other updates include landing on Gnosis Chain, more refactoring on the Gravity bridge functionality, and the deployment of testnet GRAINS to Optimism.
Props to the Volume team on the Palomabot TWAP bot success for Curve, Uniswap V2, and PancakeSwap V2 which are now live. A new Curve lending bot will be relaunched after bug fixes on the front end and smart contracts.
The Palomabot sweepstakes have ended with hints that there may be a second round on an L2 platform with more ways to win big rewards to jumpstart volume and activity.
The development of a new Gnosis bot for fiat off-ramping euros to cryptocurrencies is underway.
The host welcomes everyone to Volume’s Twitter Spaces. He shares a brief background about Volume.
Volume’s custom bots are open source to make it easy for any dev to build bots on the Paloma blockchain.
Pigeon operator keys are in development for release soon. These will enable validators to relay a high volume of messages. The aim is to fill up blocks with cross-chain messages.
Taariq explains the importance of Pigeon operator keys and collecting rewards.
Paloma has landed on Gnosis Chain! Instructions for validators are provided on README and Paloma’s announcements. Taariq mentions the importance of restarting Pigeon when there are chain upgrades, and that RPC endpoints must be configured to support the chain so that relay instructions to deploy Compass will go through.
He emphasizes that validators that have supported chains will collect more GRAIN rewards.
Those who are not doing the hard work of supporting the chain will only receive GRAINS in subsidies. They will not be able to earn extra revenue from message relay activities.
A Gravity bug was discovered on the Paloma testnet which was found to be a nonce issue. More refactoring will be done on the Gravity Bridge batch functionality and with nonces which will be fixed in the upgrade.
Taariq thanks all testnet validators for allowing the team to test the Gravity batch without risking ERC 20.
He thanks validators using Nodies who offered free RPC endpoints and invites them to share their experience.
Last week saw a lot of success on TWAP bots. The TWAP bots for Curve, Uniswap V2, and PancakeSwap V2 front ends and token listings have been upgraded and are now working well. Volume is now looking to build TWAPs on other DEXs.
The Curve lending bot was pulled out and is no longer live because of bugs found on the frontend and smart contracts. A new Curve lending bot will be relaunched after the upgrade.
Taariq explains why it is important to build jumpstart bots that are getting demand and interesting.
He invites everyone to visit VolumeFi’s GitHub, where all bot code is public.
New Curve bots are coming that are focused on lending. Riding on the success of the Curve’s stablecoin, crvUSD, the new Curve lending bot will be ready for pitch and feed soon.
Taariq announces that the Palomabot sweepstakes has ended and thanks everyone who participated. It was a first attempt to understand how Paloma can jumpstart activity and drive usage. He hints at another round of sweepstakes.
Taariq shares that Volume is building a bot that can swap cryptocurrency to Gnosis including exiting to fiat off-ramps for euros with Monerium.
Users who want euros deposited to their bank account from crypto can do it via the Volume bot running on Paloma. The bot is not yet live, and will still undergo testing.
Taariq thanks everyone who tuned in to today’s AMA.
“New upgrades, new bots, more bots, more volumes, more deployments as we continue to get ready for feed, which is the marketplace for pigeons on Paloma.”
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 (