Keep the fire burning, keep it burning high.
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
seem to think that our work is done.
But the same thing it took to give that love are the things
that you'll have to do to keep it.
You've got to stay on your take-home thing.
You've got to give a little take-home.
Keep the fire burning, keep the fire burning,
You've got to lie on your lawn bed.
Keep the fire burning, keep the fire burning,
You've got to lie on your lawn bed.
You've got to give it all you've got.
Please will you know the things that people
I mean to each other when love is new.
Lots of promises and all the things we say.
There's a thing we intended to do.
But as time goes by, things get cold and dry.
There's no more water in the way.
And there ain't no way that two can come together.
We stay locked in our share.
Keep the fire burning, keep the fire burning,
You've got to lie on your lawn bed.
You've got to give it all you've got.
Keep the fire burning, keep the fire burning,
You've got to lie on your lawn bed.
You've got to give it all you've got.
You've got to work on it.
You've got to work on it.
Okay. Welcome, everybody. So good to be back. This is Twitter spaces from volume on January
31st. We're already ending the month of January. I can't believe it. Wow. We're such a different
place than we were. But this is an exciting month. And this is the month of alpha. And this is the
month of growth. And we're going into a month of even more growth and more alpha. So welcome,
everybody who's here. Thanks, guys, for coming. If you're listening to us on YouTube or on Twitter,
and this is the Twitter spaces by volume, where we cover all the things happening in Paloma.
And today's Twitter spaces, these X spaces, we're going to talk about Paloma EVM.
That is the true alpha. So every validator on here wants to hear about it.
We're talking about it. I just got off the phone with a bunch of people. I just like awesome
stuff. Everybody's pumped about what Paloma is doing and the power of the Paloma network.
And so it's very, very good to be here. I want to share this with everybody. I don't talk enough
on Twitter. I don't tweet enough because I'm so busy just working it, trying to launch,
get new investors, new customers, get the bots up and running. Bots are like truly valuable.
And we are on our way. This is a definitive Twitter spaces. So I'm going to share. So let's
talk. Okay, who's volume? We're all about decentralized custody, decentralized trading,
and decentralized credit management, also lending. The Paloma validators, we call them
the pigeons and the flock. They are the ones that keep this game going. I want to thank everybody
for being here. And of course, validators compete with each other to relay messages. And we want
them to relay messages for a great reason. Our goal, of course, that reason is to automate
bots on target chains. We have seven target chains, base, arbitrum, optimism, gnosis,
Ethereum, BNB chain, and Polygon. And we're all on these chains today because of the flock.
Every validator here who's been here just makes it happen. And it has been absolutely crazy.
So let's talk about what happened last week. So we're missing a pigeon feed. I haven't done one
because we're just slammed. But I'll just say that pigeon feed, pigeon admin wings,
sweetly wings, because on pigeon feed, because we've been slammed. But this week, what we want
to talk about is pigeon feed, phase one and phase two. All right. So pigeon feed is here. This was
the promise of 2022. We're not on 2024. Golly. So 2022, two years ago, we were like, we had this vision.
And we said, this is going to rock. And now we're like, all right, 2024 is here,
filing. We're going to deliver it. We are in final testing. We're debugging a rounding
error bug. This is scary. You know, pour one out for abracadabra and mim that got hacked
this week because of a rounding error bug. So we're dealing with a rounding error bug right now
for pigeon feed phase one and phase two. So we're testing it. Our goal is that by Friday,
we'll have a proposal up for test set. And the first phase of pigeon feed will be up,
which means that validators will receive relay messages based on their performance of their node.
So the performance of the node is going to be measured. We're going to measure message uptake
time, message relay time, validator uptime, all these things that make up a good validator.
These things will now determine whether or not validators get messages in what order. So every
validator can get a message. But every validator may not be first to get a message, right? Because
if you're a validator and you're always up, you want to get messages versus the validators that
are not always up. So these metrics that we're collecting are going to be part of
essentially the core foundation of pigeon feed. What we're going to do is say, hey,
as more validators come in the network and validators perform, those validators will perform
well, deliver messages in a short period of time, don't drop messages that are responsive.
Their RPC endpoints are responsive. They will get to be a bigger pigeon. They will get to feed
on more greens, right? Because greens will be awarded to everybody that completes a message.
So this is node currently. We are just about close to getting it up. And we're super excited
because after Friday, if it comes on, test it on Monday, we'll leave it, check it out. And then,
of course, test it and then run the proposal to upgrade the following week, which means that
we will no longer be doing random assignment messages. We will not be doing
performance assignments. Of course, these metrics expire. So it doesn't mean that these metrics
stick with you. So even if you're a pigeon that doesn't get a lot of messages first because you're
tweaking, these sort of metrics expire and it gives a chance for new members of the network
and pigeons who are having problems to scale up. And that's what we're doing. So we're really
excited about that. And we are currently in testing. We'll be ready and look out for proposals
as well. So super pumped and excited about pigeon feed, phase one, phase two, pigeon feed,
phase three, and phase four. We'll come next. Our goal of pigeon feed and pigeon feed, phase
three and phase four is now phase three, values get to set their fees. They say, hey, here's my
relay fee. Here's what I want to get paid. It's a percentage over the estimated gas. So pigeons
will say, here's what the gas price is on Ethereum. Pigeons get to say, great, I want to get paid
10% of a gas, 20% of a gas, 15% of a gas, or I just want to get paid 1% of a gas. They essentially
get to set their price. And then a message is assigned, a pigeon feed, phase three,
will be that messages are then ordered by the cheapest of the assignments. So if you're the
lowest cost, highest performing pigeon, you are going to get more messages than the most expensive
lowest performing pigeon. So this means that now, values will get more messages for them
versus less based on their performance. Pigeon feed, phase four, is then how
values will claim. So after they spend gas, values get to claim their grains. So
gas is repaid in grains because grains are swapped from each for gas. And then pigeons can
then reclaim all the target chains. So if a transaction happened on gnosis, pigeons get
to reclaim grains on gnosis, and then it could swap grains and gnosis back for each, or for any
other token, they should just swap grains for DAI, or we'll see what this does. It allows the
validators to claim their funds on any of the target chains and use the funds on the target
chains or bridge where they need to bridge. Two, we keep funds in EVM. We don't force
values to have to essentially collect payment on Paloma so that they have to then go back
to the EVM to swap. And of course, because we're going to have this swap or the bridge tax,
and we already have signaling for that, that bridge tax is about 10%. If we have a bridge
tax of 10%, then we don't want to punish validators for delivering messages, getting
paid in grains, and then saying, oh, God, I got to pay another tax on it. So the good thing about
this is that because all the settlement will happen on the target EVM for which the chain
is relayed, that means that validators can get paid, and it's a cheap cost for them to claim,
swap, and exit that position. Of course, what this does, it gets by pressure to grains.
Economics 101. We want by pressure on grains. We want grains to go up in value,
so validators are rewarded. They can buy better data centers, they can buy better disorders,
and they can get more messages. So the awesome opportunity for us here is that
we are going to have grains be essentially swapped into from the fees that the user pays.
Those are going to be swapped into grains. And then that creates by pressure on grains
that allows validators to sell. The more people who see grains rising in value,
the more they will acquire the grain token. And therefore,
validators get to sell more grains, so again, continue to improve their network. So we want
validators to be able to sell grains quickly, and if they are on the target chain, they should
be able to do so without any problem, as well as they can hold grains however they see fit.
We want people to buy grains, so we want people to see that grains has economic value.
Grains is not a dead token. It just doesn't exist, sit there, do nothing, just vote. We want the
grain token to have economic value, right? And that economic value means that people acquire the
grains because the price goes up, as more volume goes up. So therefore, it becomes an appreciating
asset. Of course, all this requires first, phase one and phase two to be complete. We're going to
get that done. And then we go to phase three, which is essentially, validators get to set their
prices. And then phase four, the validators get to essentially collect the rewards from Composevium
on the target chain, denominated in grains, creating by pressure and demand for the grain
token, as long as more messages are being relayed, relayed. All right, great. So now that we've
covered pigeon feed, let's go to the next one topic. I want to just tell everybody, if you're
delegating stakes to the validators, a lot of validators, if you have new validators on the
network, we're going to be letting everybody know, please, we delegate your stakes. So we've got some
people to have, you know, the thing is they please make sure to delegate your stake to a winning
validator. And we're going to make sure that all the current validators who are active get more
stakes. We want more current validators to get more stakes as the network goes on. All right.
Now, we're going to talk about, I think, let me see what else is on Paloma. All right. So also,
I think on Paloma, we're going to, we just did a patch upgrade on Ledger. So if you're using a
Ledger on Paloma, because Ledger has an upgrade here, so I think 2.14.3, if you're on the current
version of Paloma, the Ledger won't work. So if you're like me, and you've been trying to
use your Ledger this week, you'll find that your Ledger does not work on Paloma. Paloma needs to
upgrade. So part of the Paloma upgrade that we have coming to mainnet will be the new Ledger
release, which will allow us and not everybody who's using Ledger to use the command line to execute
transactions. So right now, I can't delegate more stakes because we need to upgrade those Ledger.
It's not funny, like the entire chain, you literally cannot use a Ledger in this moment,
because Ledger Go has updated. And we have not updated as well, particularly due to HID. So
just one of those things where you're like, shocking, simple patch and update is blocking us.
So we're going to get that fixed with the next release of Paloma. All right, now let's talk about
what we are here to talk about. Let's talk about Paloma bots and Paloma EVM.
All right, so Paloma EVM. Well, it's all right. We're on violator. Well, you hear about this
Paloma EVM. Okay, so we are going to be putting forward a proposal to launch Paloma EVM
as a leverage L2 chain for all tokens that are native tokens to their native chains.
Okay, so you heard it here, folks. We are launching Paloma EVM as an arbitrary EVM. So that Paloma
L2 chain, the EVM chain can allow or create leverage markets, lending markets with leverage
up to 100 times leverage for anyone permissionously using L1 tokens, native tokens. That
means anything from Bitcoin, Ethereum, Cardano, you name the L1 token, or the native based token,
we want to create a leverage market for that. We've been going back and forth. I just want to
say that yesterday, we started talking about it this week. And we are moving quickly, so much so
that we're going to start with a restaking bot. So the first bot we're going to start as an
Ethereum staking bot, that is going to allow us Ethereum restaking bot that will allow you to say,
hey, please take my E and we will pay. But what we really, what we then we're going to do after
that is we're going to say, great, this staking bot is also part of Paloma EVM and Paloma EVM's
destination. What Paloma EVM will do will offer massive leverage for L1 tokens. And so we're
super excited about that. But here's it, why divide it is here. So we're launching Arbitrum,
we spend the entire week talking to the Arbitrum team, learning about Arbitrum and various L2s.
And the reason why we wanted to work with Arbitrum is because they're introducing us to a number of
other partners who we like a lot and are very, very good teams. And what was very helpful was
whether or not we should do an L2 or L3. So we decided that we're going to do an L2 called Paloma
EVM. It will be on Arbitrum. And 10% of the revenues from this chain will go to the Arbitrum
Foundation. We're totally fine with that, because we're going to pay it in green tokens. So again,
more demand for the green token. One of the key things of evaluator why you want to be,
why you want to participate in our signaling vote is because it's very important that we are going
to have something called a data availability committee and a sequencer. So the sequencer,
we want that to be a vote. We want to say, hey, let's vote for the sequencer on Paloma. So every
evaluator here will get to be able to say, let's put up a vote to vote for them as a sequencer.
And then, of course, we want a data availability committee. So what is a data availability
committee? Well, before we jump it on, let me just talk about sequencer. So the sequencer
will be a Paloma validator. We're not going to go outside. We're going to stay in the flock.
It's going to be a Paloma validator. The Paloma validator for sequencer will be elected by
government. And we are going to see if we can tie slashing to the Paloma sequencer's behavior. So if
we see good behavior, then the Paloma sequencer will not lose its stake. But if we see bad behavior,
the Paloma sequencer will lose its stake on Paloma. So this is a new security model that we
want to explore with the goal that we would be able to say, hey, we can launch our first E-L2
on the Paloma EVM or Paloma's Diploma EVM-L2 on Arbitrum using Arbitrum technology with slashing
and with security guarantees provided by the Cosmos SDK chain Paloma. So one of the things
you'll notice is that if you are running on L2, most of the sequencers are centralized. That means
that the sequencers are companies or people I know as a problem. Sequencers don't get punished
for behaving badly. Now there are sentry nodes that you can have on Arbitrum that can do this,
but we already have validators. We already have sentry nodes. We don't need to get new
ones. They are Paloma validators. And so what we can do is say, hey, Paloma validators can act as
the de facto sentry nodes. And what we would like to do is extend slashing functionality so that,
again, the Paloma validators can come to his agreement on the sequencer's activities.
We'll see how that works. And then, of course, if they see bad behavior,
indicate that a slash is required on Paloma chain. So if you have to have a large stake to be like
the sequencer and you fuck up or you fuck around maliciously, then you can lose your stake. This is
a great way for long validators to participate in the sequencing business and for us to keep it in
the flock. We don't need other external sequencers. We need the flock to be the sequencer. And we need
a few of the flock to be the next phase of the data availability committee. What is the data
availability committee? The data availability committee is the committee that essentially
prints up the hash proof that says, hey, you know what, this Ether was minted on the L2 chain.
It needs to be redeemed on the L1 chain. So the problem of doing that in Ethereum is because
Ethereum gas is so high. If you keep having transactions going in and out, it becomes
very expensive. So we've had chains like TIA, remember TIA, Celestia, right? Celestia chain
is essentially a data availability chain. You publish these hashes on Celestia's Cosmos SDK chain
and your L2 can look to the Cosmos SDK chain of validators on TIA for those proofs.
Well, we want to bring TIA to Pomoma. We're going to make TIA Pomoma. How do we do that?
We build our own data availability committee. Is the software there? Yep, it's already built.
Do we have to write anything new? Nope, we just had to deploy. Oh my goodness. So now validators
in Pomoma can be paid for a new job, data availability. So you mean fast settlement
and faster between the main chain like E on the L2 and Pomoma EVM is all now done effectively
by the Pomoma validator set? We say yes. We say yes. So you heard it here first. First,
the alpha of Pomoma EVM to validators will be one. We're looking at the sequencer
and then the node sentry nodes being run by Pomoma validators or
sentry nodes, you know, Pomodal is acting as sentry nodes on the network. And then lastly,
the data availability committee being run by the Pomoma validator set as the committee that
helps speed up settlement on the eighth L1. All right. I want to share some success. We've had
a big win. We're going to end it off and say we started testing our staking bots for the L2
yesterday. We launched out. We started doing a private sale for deposits to Pomoma bots staking
bots, ETH staking bots, and ETH restaking bots. I think we're going to call it ETH restaking bots.
It was able to collect $950,000 in 24 hours. So this has been huge. We're going to then
essentially take this public. We're going to, I think we're going to hit a million today.
And our goal is to take this public and then be like, boom, let's get other people to join and
commit for their deposits. And then we go launch the, you know, Pomoma EVML2, and folks will be
able to get staked as well as they're not going to get leverage. So what's the Pomoma EVM supposed
to do with the leverage? Well, right now, one of our fastest growing bots is our leverage bot.
It's awesome. Everybody likes leverage. Leverage is on every payment. It is hot. There's an
insatiable demand for leverage. And every time the price of a coin goes down, that's when you
have to leverage. Always leverage went down. So today, if you're not going to Pomobot.ai and
taking leverage, you're losing out, the markets are down, go and leverage long because when the
markets come back, you can then cash out at a profit. All right. So we're doing leverage
because we are seeing that as a high growth area. And we're going to make Pomoma EVMP leverage
blockchain for L1 tokens. Any one token you can get, it's going to be a leverage, maybe even L2
tokens, as long as they're a billion dollar valuation. We're partnering with Curve to do
this with the NetUSD product. And with our NetUSD product and Curve AMMs, so we'll have an exchange,
but we're super excited and super pumped to have a chain that is dedicated for fast leverage, fast
bets on long and short movements in crypto prices. So that is awesome. All right. So we had $9.50,
which is up to a million. And we're going to launch this, we're going to launch a major
promotion, but we won't tell you what it looks like. But our goal will be that we want to get
the public in, get people who want to jump in onto these spots, and then get ready for the launch of
Pomoma EVM. So, Pomoma EVM, we still have to go through governance votes for signaling that we
want to do this. Yes, the validators are impressed. They want to make more money. And then we take the
next phase to go launch it, test it, and then deploy leverage functionality to this L2. Super
exciting. All right. So that leverage is good. Welcome to the leverage chain, Pomoma EVM. Welcome
validators to new work and new money. And welcome to the new pigeon feed that is now going to be
live coming up in the next few days. We're super excited for this new world. All right. With that,
I want to say thanks. Until next week.
You got a little, you got a little, give it all you got.