Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
A Palomabot SURPRISE 🔮
Recorded: Sept. 20, 2023 Duration: 0:27:38Space Recording
Full Transcription
There you go.
All right.
Keep the fire burning.
Okay.
Welcome, everybody.
That's a Wednesday, September 20th.
And we are...
And we are...
I think C-Card is here, so he knows there's something going on.
So I would say welcome, welcome, welcome.
This is an awesome, awesome September 20th.
And we're doing our weekly volume update on the Paloma network and on Paloma bots.
And I just want to say welcome to everybody.
And we need to put up in Discord that we're here.
I think people want to know that we're here because we got something that we're going to announce
and I've done a terrible job.
We didn't post anything in Discord.
Yo, volume, post up in Discord.
Make an announcement.
Say, listen, we have a live event with a big announcement here.
Huge.
As Trump would say, it's going to be huge.
And we want everybody to jump in.
So if they can't, because then when you see, Garry will like hear it and then he'll be like,
dude, I'm rich.
And we'll be like, wait a minute.
I didn't say anything.
So, yeah.
Larry, post it up there.
Great.
Okay.
So with me here, Field Theory, how you doing?
How's it happening?
Good morning, Atari.
I'm doing pretty great.
How are you?
Doing rocking and rolling.
Rocking and rolling.
And I just want to say thank you for joining me.
I'm very excited to have you here with us.
And we'll talk about what we're going to talk about.
So today, we're going to talk about surprises.
But first, how we're going to get started is let's talk about who we are, what we're doing,
and what this is all about.
So as always, we are Team Volume.
And this is our volume space on Paloma.
We're going to be talking about, this is our Twitter spaces for volume.
And we talk a lot about Paloma.
And just for a second, let's talk about who we are.
Volume, we are decentralized custody and trading bots on the Paloma blockchain.
Our goal is how to use bots to manage private keys securely and have private keys work across
different chains.
And we love automation.
We want to make sure things can automate.
We love AI.
We love data mining.
We love machine learning.
We love statistics.
We love Golang.
We love all those things.
We want to make sure that they contribute to making and enabling more automation for the
community.
We are also the team behind the Paloma protocol that we've been developing.
With a lot of community feedback, we would not be here.
We would not be for the community of validators that essentially run these servers to make
this network go.
And of course, when we started, we had no idea what Paloma would be for.
We thought it was going to be, we said it'd be FedEx for blockchains.
I think it's still FedEx for blockchains.
But even more, it's now, you know, bots on the blockchain.
And so that is one thing we're doing.
We wanted to, you know, spend a minute just to talk about the success so far.
Currently, the Paloma network is live.
It's on Mainnet.
It's been on Mainnet since March.
And it's active.
It has about 30 validators on there that make up an amazing validator community.
Currently, relaying is one of the key, you know, functions.
And that relaying activity has allowed Paloma to launch bots.
We have about, how many bots we have?
27 bots?
Wow.
Is that how many bots we have, FieldTare?
We have 27?
Confirmed.
That's how many we have.
It's nuts.
We have 27 bots.
And there's a whole lot more coming.
There's a whole lot more coming.
All right.
Oh, my God.
We've got 27 bots.
And these bots have done about $16 million in volume.
And the green token is not even priced.
Like, the green is not even on exchange.
But people have done about $16 million in volume.
And I just want to say this is a great job for all the validators on the flock.
They have been amazing.
They've stuck with this project for over a year.
It's time to get paid for all that effort.
So, our goal is to make sure that pigeons can make a business out of relaying activities
and relaying jobs to other chains.
So, great job on the flock.
Congratulations.
So, how do we want to reward validators?
Well, we want validators to reward themselves by actually charging fees for relaying.
And so, we have volume and the Paloma community have launched the Gravity Bridge on Paloma.
That is currently the current release version 1.8.0.
And tomorrow, Thursday, we'll be upgrading to 1.8.2 on Paloma and Pigeon.
The fixes on 1.8.2 will reduce jailing.
That was a big pain in the butt last week.
A lot of pains in the butt.
So, there's constant jailing on Pigeon.
We've really given it a lot of energy and made some fixes so that now Pigeons won't see jailing.
We've been running, actually, Pigeon 1.8.2 on volume's own validator.
And we have not been jailed.
Whereas, last week, we were getting jailed every 10 minutes.
We have not been jailed.
So, the flock is going to be very, very pleased come tomorrow's upgrade.
Because jailing will now be a thing of the past.
So, that's also good news.
Which means more good news.
Relaying.
Well, we want relaying to restart.
But currently, relaying is not functioning on mainnet.
It's functioning on all the private test nets.
And we have identified the issue for relaying.
And that is a logic call confirmation or logic call log check that was not working properly.
That logic call, submit logic call log check, is being fixed.
It's currently in permanent release.
And once it gets into draft, we will look to cut another release for Paloma this week.
So, it's going to be week-to-week upgrades, as always.
It's nuts.
We're just relentless, continuous upgrade of the system.
And it's focused.
So, we are going to release that.
So, by next Monday, relaying should be restored to Paloma.
And we will hopefully have also a restoration of, we'll also have a decrease in RPC calls.
That's been a big pain in the butt.
There's growing RPC calls because of gravity.
And, of course, the RPC calls because of gravity are important because gravity needs to keep checking to see whether or not there are, you know, requests to bridge tokens.
And so, because, and literally, that request to bridge tokens should be happening every second.
Gravity was essentially checking the Ethereum logs every five seconds.
But those calls every five seconds, imagine, like, you know, you're checking Ethereum logs every five seconds.
They grow.
So, we have a lot of work to upgrade these calls to see why they're, you know, calling so much volumes.
But it is a necessary part of gravity to also monitor the chains to see when token bridging needs to occur.
So, what we're going to do is we're going to reduce those calls for a bit, calm things down a little bit, assuming that gravity, our bridge, will not be very active.
But our goal is to get the grain token ready for deployment and execution across the chains on different chains, right?
So, once grains are now functioning as a bridge and working, then anyone can take their grains across the bridge and trade them, particularly validators.
So, all the validators who've been, you know, collecting grain rewards can now finally say, hey, okay, now I can trade them somewhere.
So, of course, we are still getting that right.
So, once that's right, the next thing will be that the community launches the pools.
And then, of course, validators can trade grains for money.
They can get exit liquidity.
And so, that's also a big, big step.
Now, what we need is more people to have grains and more people to want grains.
The way we do that is we need to invite people to use Paloma.
But given that, you know, and really, we need to get devs.
We need to get a lot of devs on board.
And what we're trying to do is get users in addition to our head of devs because we find that devs get frustrated when the system doesn't work.
You bring a dev to Paloma and there's a bug, things are not working, you know, they don't get support, then they leave.
They go back to Solana.
So, the way we're going to do things is we are bringing more users to Paloma.
We're bringing users first and then we're going to bring devs.
So, that's kind of crazy, right?
Everybody usually brings devs and then they hope to find users.
We're going to bring users.
How are we going to bring users?
We bring them via the bots.
So, we've had some bots.
We're going to talk about a little bit about, we talked about our bot success on PalomaBot.ai.
But now we're going to say, hey, what's the big surprise?
Well, we're going to pay users to come use Paloma bots on Paloma, right?
So, we are, the way we're going to pay it is we're going to give us sweepstakes.
The sweepstakes is very simple.
Every 100 bot that gets created on Paloma, right, by users, not devs.
Like, if you create a user bot just to, like, use one of PalomaBots, and if you use one of PalomaBots' bots, if you create that, we're going to give away $1,000, right?
So, now we're giving away $1,000 for every 100 bots.
Right now, there are 27 bots that have been started on Paloma.
So, we are going to give a lucky address, $1,000 on the 100th bot.
So, that means that anybody who comes to PalomaBot.ai and hits Start, and they hit Start Telegram, they essentially get entered in, and they can qualify to win $1,000.
We first want to get this to our community on Paloma, because that means that, yeah, every validator and everyone here can now get $1,000, as long as they are the 100th bot that is created.
And, you know, the way we're going to do it is we're going to announce the winning address on our Telegram, our Discord, and on Twitter.
And then we're going to also publish the rules that I'm sharing here to our PalomaBot website, and we're going to promote this.
We're really going to really kick this off in full force next week with the next upgrade.
And to celebrate that upgrade, that's going to be really updated.
But we're going to announce it today because folks can get quickly in and see if they can win it.
So, we have 27 bots so far.
That means that there are, what, 73 bots left to go, right?
And so, we just need 73 starts on the Telegram, and then, boom, somebody will get $1,000.
So, the winning address will receive $1,000.
So, no purchase is needed.
You don't got to purchase anything.
You just got to hit start on Telegram.
And you only can do one bot per Telegram account, but you can create as many Telegram accounts as you want.
We don't care.
You just got to be 18 and over.
And, of course, if you're a U.S. resident, you're going to have to provide proof of identity for us to give you the money.
But if you're not a U.S. resident, then you don't have to, you know, God bless you.
You know, we're not paying for tokens.
It's not a token sale.
We're not, you know, trading tokens or anything.
All we're saying is, hey, listen, you know, if you are 100th user on 100th bot on Paloma that you've created, you get $1,000.
No questions asked.
Unless you're American.
Then we have to get you your tax details.
So, now, for the remaining few minutes, I think Field Theory can tell us what kind of bots that people can start, what kind of bots they can create.
Yeah, absolutely.
So, as Tark said, we welcome everyone to come and use PalomaBots.
And, therefore, I'd like to give you a quick intro to what bots are available.
And so, some of them might actually, you know, be of your interest because there's – all right, let me get to it right away.
So, first of all, our bots are deployed currently both on Ethereum and on Binance Smart Chain.
And, to that end, we have Curve and Uniswap V2 on Ethereum.
And we also cover PancakeSwap on Binance Smart Chain.
Now, what can we do with these DEXs is we have different types of bots.
TWAP is our predominant bots that people are predominantly using.
And TWAP stands for Time-Weighted Average Price.
So, essentially, it's an execution bot.
What it is for is basically when you have a large trade.
If you, you know, you're swapping one token for another at a fairly large amount, there's something called slippage.
Basically, you can think of it as cost to your execution.
You know, you're swapping a large amount.
What happens is you lose quite a bit percentage-wise in the process.
In order to reduce that cost, one way to do so is to break down this one big trade into smaller trades.
And you give some time between each trade.
And, but in order to do that, obviously, either you have to sit, you know, on your monitor, on your computer, and then manually submit these trades.
Or you can use Paloma's TWAP bot.
TWAP bot is available on Uniswap V2, Curve, and PancakeSwap.
All you need to do is go to the front-end, Paloma bot's front-end, specify which tokens you're swapping into and which tokens you're, what's your input token.
And then, you know, tell the front-end how many trades you want to break into and what's the time interval.
Then, you know, you click start the bot, your tokens will be sent into a smart contract, and the contract will basically run a scheduler that sends these trades into the corresponding DEXs.
Now, another one that's fairly popular, I would say, the second popular bot would be the Momentum bot.
And the Momentum bot is for a slightly different purpose.
What it does is it scans, you know, all the DEXs that we are deployed on,
and it keeps track of the most highest short-term return tokens.
And so, if you want to speculate on some of these short-term high-momentum tokens,
you can simply visit the front-end, and you will see a dashboard with a collection of these coins,
and then you can choose one or several of them to trade.
The bot then starts a profit-taking and stop-loss risk management program running on a scheduler,
and it will exit your position if the coins press either reaches the highest value that you chose
or the lowest value that you want to protect yourself from.
So, that's pretty much the majority of our current 27 bots.
And we're also launching quite a few more in the short term.
For example, we're taking it not just into DEXs, we're expanding over to lending as well.
So, one of the newcomers would be the Curve lending bot, which will help lenders and borrowers to protect their collateral
by setting up a bot that automatically tracks one's lending position and exit the position if the risk gets too close to the liquidation level.
So, really, we'd like to invite people to use our current bots and also keep an eye on our new coming bots.
And I think more and more, we're trying to basically fulfill potentially all your needs that require automation in crypto.
Yeah, that's awesome.
And thank you, Phil Perry.
I think what I really liked about, you know, what you're sharing is that not only do I not have to trade in order to win $1,000,
I could just show up and start the bot.
So, I don't have to trade to make $1,000.
But if I do wish to trade, now I can essentially do all these types of TWOP orders, time-weighted orders on-chain on Uniswap and PancakeSwap
and that there are more DEXs coming and, of course, deployment to more chains.
So, it just means that there are more and more ways and more and more opportunities for people to come in and start a bot and win $1,000.
So, we're super excited about that.
I think that's rocking.
And again, I want to say, you know, congratulations to the validator set for Paloma.
These are the data centers that are executing these trades, you know, from Paloma State into, you know, State on the EVM.
And I think it's going to be really, really cool to see, you know, more Paloma validators essentially now, you know, finally getting, you know, more revenue from running their validators.
So, what I will say is that, you know, yes, more protocol updates are coming this week, like we said.
We're going to have 182 coming online and upgrading tomorrow.
And then next week, we're going to have most likely a 183 coming online and upgrading next week, Monday.
So, a relentless march to upgrading and making sure Paloma is useful.
But now, let's invite the users and let's see.
So, $1,000 going to the every 100 bots that users start on Paloma.
Like you just started on the Paloma Telegram bot.
You don't even have to start it to actually trade.
So, you'll get $1,000 if you're 100.
And right now, we have 27 bots that have been created or started on Telegram.
So, that means that we are just short of 73 to hit 100.
And if you hit 100, you get $1,000.
And I think, wow, that might be the easiest one grand that anyone can make in crypto without being a scam.
And it doesn't require you to buy any tokens.
It doesn't even require you to trade.
All you got to do is hit start.
So, that is awesome.
Oh, yeah.
You got to put in your address.
And another thing, too, is the winning addresses will be announced.
So, we're going to have to figure out if people don't claim their winnings, then we're going to have to give those winnings to other people.
So, it's kind of funny that, you know, we don't have email addresses and we don't have phone numbers, right?
So, we just have your, you know, your EVM address.
So, if you're the winner and you get $1,000, you don't claim it.
We're going to have to give it away to somebody else.
So, $1,000 for every 100 bots that get started on PalomaBots, TelegramBot.
No trading necessary.
No purchase necessary.
We're just going to give away the cash.
We already have 27 already created.
So, it's not even hard to get the remaining 73.
But you'll get $1,000.
And so, we kind of are announcing this quietly so that our community can take advantage of it.
We don't care if it's botted.
We don't care what, you know, we just, we don't care what shit.
We just want to be like, hey, take $1,000, you know, for participating and bringing usage to Paloma and PalomaBot.
So, excited to share that.
So, there we are.
Anything else we're missing, Phil, Terry?
Anything else we got to cover?
I think there's everything.
That's right.
All right.
So, we're looking to give away $1,000 and $100.
We have 27.
We need 73.
We have 27.
We need 73 more.
And no purchase necessary.
And we are on our way.
So, looking.
We're going to be, again, this was our quiet launch today.
Come next week, we're going to be telling the rest of the world, and we're going to be really hammering on this so that we get more users into Paloma and more people curious about what PalomaBots does and free money.
It's time to give away the free money.
All right.
With that, I wave off.
Cue the music.
Thank you, Field Theory.
Thank you, Paloma Community.
And C-Card, looks like you might get the first $1,000.
So, everybody else who showed up late, I want to tell you, $1,000.
And we hope we get more people about every, we'll be just giving out $1,000 every time.
So, every 100, PalomaBots, that gets started.
All right.
With that, we start the music.
See you guys on the Discord and telegrams.
See you guys.
Some of you girls, I don't know what I'm saying.
We've been a lot of times searching for love.
And never know where it's coming from.
And as soon as we get it, somehow we see.
