Paloma’s Light Node Sale is coming on August 7th! One billion GRAINS from the Paloma Foundation’s ecosystem fund will be used to sell Paloma node clients converted into an automatic delegation, claiming, and staking app. Taariq Lewis @LewisTaariq, CEO of VolumeFi (volume.finance) talks about the sale that introduces a new way to earn more revenue and participate in the Paloma Community where all proceeds go directly towards increasing transaction volume on-chain and boosting profits for validators as well as delegators.
The sale comes at an auspicious time to broaden the network reach before GRAIN tokens are listed on DEXS. Available on subscription priced at only $50 per node, buyers can mint tokens over two years as long as the client is delegating and claiming GRAIN tokens. Big incentives also await validators as 60% goes directly to the validator and 30% of the fee is distributed to the community. Big win for all! Visit
https://www.palomachain.com/lightnode/
for more details on the sale.
Pigeon Feed is live! Validators will soon be collecting GRAIN rewards for relaying messages across chains with the freedom to choose any strategy to maximize profits on Paloma. Validators can stake or sell while taking advantage of arbitrage opportunities. Fee rates, uptime, and past success are measured so that validators with low stakes can jump up the Paloma relay queue and have a chance to be the number one relayer.
Taariq welcomes everyone to Volume’s Twitter Spaces. As the GRAIN token nears trading, he thanks all validators for staying on with Paloma through testnet and mainnet even without a token listing.
Pigeon Feed is up! Taariq reminds all Pigeons to check out GitHub v15.4 release for instructions on setting up their relay fees.
Validators with low fees can still make inflation because of commissions. He states that while validators can charge whatever commission they want, they are also competitive.
Message relaying will be priced differently on every chain. For now, the setup has standard relay weights which means that all chains are the same. As more volume hits chains, the weights will be adjusted accordingly.
The next phase will be the Compass upgrade to 2.0 paving the way for the launching of the smart wallet. This is the wallet that holds all the fees that people will use to relay.
The Skyway bridge will undergo testing for transferring GRAINS across multiple chains, ensuring that relays are executed, and fees that are payable to validators are stored on Compass.
Taariq explains how validators collect their relay fees and how it creates buy pressure on GRAINS from users.
Users do not know that they are buying GRAINS to pay for their relay fees because they spend their relay fees based on the target chain’s gas amount.
Paloma will deploy AMMs on Uniswap and Curve where GRAINS can be swapped for ETH. Validators will then claim GRAINS which they can either swap or stake.
Because Paloma deploys to multiple chains with different exchange rates for GRAINS, this opens up arbitrage opportunities for validators. Validators can choose whatever strategy they want to maximize their profits using Paloma. Taariq offers an example.
Validators can charge different fee rates for different chains.
Messages are awarded to validators based on relay weights such as the cost of their charge for gas and uptime. Uptime is as important as success in relaying past transactions. Pigeon Feed is designed so that validators do not need a high stake to be the number one relayer.
Validators with better infrastructure will have better relays. Those that invest more in Paloma, and spend more will get more relays and more stake.
Paloma will continue to automatically refund validators for relay scripts and valset updates directly from Paloma.
After Paloma’s upgrade next week, fees for relaying will start collecting on Compass and deploying GRAIN tokens to the AMMS which will done through governance. Validators can then collect their GRAIN fees if they have been rewarded.
The node sale aims to broaden the network and increase the size of the community before the tokens are listed on the DEXs. Once the GRAINS are listed on the DEXs and they are active, the money from the node sale will be used towards increasing the volume of activity on-chain and across chains and increasing profits to all validators in the network. Taariq states that it will be one or two months before the GRAIN token will have a price.
Taariq announces preparations for the launching of Paloma’s Light Node Sale to broaden the network and bring more people into the Paloma community.
This will bring people in as participants allowing them to collect and secure the Paloma network bringing a ‘balance to the force’.
Taariq explains the details of the sale.
The client must be actively delegating and claiming GRAIN rewards to mint GRAIN tokens. GRAIN rewards will be claimed and delegated every 24 hours. The client will delegate stake only to active validators. This will encourage more new validators to come with the participation of a group of people who are dedicated to delegating stake. This makes delegation much more dynamic as stakes are continuously being delegated and reassessed based on validator commission rates as well as uptime.
The whole process will be done automatically so people who buy nodes do not need to learn about the software. They only need to follow instructions and keep the software on.
This will allow more people to get GRAINS, participate in the network, and vote.
The cross-chain node sale will benefit Paloma validators on any of the eight chains. There will be node sales on Ethereum, BNB, Optimism, Base, Blast, Gnosis, Polygon, and Arbitrum.
There will be a 2-year vest on the tokens. The tokens are minted out per block, with no cap. There will be slots and each one will have a certain number of nodes available for sale.
A big incentive awaits validators. Relayers will collect a fee and the community will change 30% of that fee from all stakers.
The numbers may change over time as decisions will be put to governance. Proceeds from the node sale will go towards the Paloma Foundation increasing the number of developers and builders on the Paloma network.
The node sale is for validator and delegator networks which are somewhat an ignored area of incentive for blockchain.
The Paloma light node sale will launch on August 7th! There will be plenty of incentives to encourage more people to join. Check out
https://www.palomachain.com/lightnode/
for more info.
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!