Weekly Wings: Go-Ethereum Upgrades, Transak Fiat Rails, VolumeFi Trading Bot Upgrades
Your three new Paloma hatchlings this week?
Welcome back to our three new Paloma hatchlings as we complete March and the first quarter of 2023. We’re excited to share with you updates on Paloma, Pigeon, and PalomaSwap, as we head to another upgrade of the Paloma testnet and then mainnet! Read on!
REMINDER WARNING: The Hatchling Paloma Network of “Messenger” is still young and unaudited. It’s meant to be a mainnet that is active and still allows for continued development of Paloma’s cross-chain messaging system. We expect “Messenger” to be under active development and subject to possible chain halts and chain restarts as well as undiscovered exploits. The community will attempt to preserve state, but considers this mainnet a high risk of loss of assets for users. Proceed with caution.
1. Paloma and Pigeon upgrade to Go-Ethereum v1.11.5
Paloma cross-chain messaging recently experienced testnet failures due to changes in Go-Ethereum libraries. Go-ethereum upgrades are now required for the upcoming Ethereum Shanghai updates. Paloma and Pigeion Ethereum types now upgraded from tx.AsMessage to core.TransactionToMessage. We expect we’ll see more type changes as Shanghai and further Ethereum2 upgrades come online. Additionally, this week Paloma and Pigeon also included a number of package upgrades that are undergoing testing to confirm consistent and expected functionality. In private testnet, Ethereum transaction signing and valset updates are successful. However, Paloma appears to now have ongoing account sequence mismatch errors related to multiple transactions signed and submitted in a block with the validator key. Next week, will share upgrades on Paloma to address the account sequence mismatch errors currently active in private testnet. Validators on Paloma mainnet will expect to see a new release for Paloma public testnet ready for testing.
Stay up to date and follow the Paloma public repositories and the commits of ongoing upgrades to Paloma Cosmos-SDK blockchain here:
https://github.com/palomachain/paloma
https://github.com/palomachain/pigeon
2. Transak Fiat Rails Go Live on PalomSwap.com
This week, Volume launches fiat rails on the new https://palomaswap.com. Paloma community members can collect GRAINs by swapping into a stablecoin on any blockchain and swapping between stablecoins for GRAINs that are active in the community sponsored GRAINdrop. Transak is recognized as a leading fiat rails partner for many of leading wallets, including Metamask. Although pigeons cannot purchase native GRAIN tokens with Transak, they are able to purchase any native token on the supported target chains that feature the PalomaSwap DEXes. The cheapest and fastest way to acquire GRAINs? Fiat ramp to stables. Swap and claim. Transak currenty charges around 5% per transaction, but with increasing volumes we look forward to falling fees to make the offer competitive for the community. Tell us your experience with Transak on the Discord https://discord.gg/HtUvgxvh5N.
3. VolumeFi Launches Trading Bot Sample Code with 24-hour and 7-day Momentum Indicators
VolumeFi launches a special repo for its Momentum Trading Bot code, written in python. This comes in perfect timing with Transak. Now that pigeons are able to use fiat to purchase tokens to trade on the DEXes on PalomaSwap, the community can make use of a free open-sourced momentum trading bot that the VolumeFi team has developed and made available at https://github.com/VolumeFi/trading-bots. Anyone can run this Python script using the public APIs from CoinGecko and check for the 24-hour and 7-day price appreciation performers. The objective of this trading bot is to introduce pigeons to simple trading strategies that they can use on PalomaSwap. Also, Paloma protocol aims to automate limit orders for profit taking and stop losses, via the validator set. The output of the trading bot appears as a list of token names and their percentage gains over 24-hour and 7-Days. The top performer is listed as the “hottest” token in the past 24-hours. Price entry and stop-loss and profit-taking prices are given at 5% decrease or increase over the entry price.
uniswap_v3 top winners:
24H Return 7D Return
Token name
zeroliquid 45.77% 112.52%
gamma-strategies 43.5% 45.91%
woofwork-io 25.74% -5.5%
frax-share 15.9% 6.5%
lido-dao 14.77% -0.49%
wrapped-fantom 11.36% -6.14%
rocket-pool 11.3% 12.93%
the-graph 10.49% -3.45%
ssv-network 9.78% -0.03%
unidex 9.64% 7.62%
singularitynet 9.38% -7.63%
immutable-x 8.79% -10.24%
eth-2x-flexible-leverage-index 8.72% -0.46%
* * * * *
Hottest token in the past 24H:
zeroliquid , 24H return: 45.77%
Enter at: 0.6068826182915462
Stop-loss at: 0.5765384873769689 (stop loss percentage: 0.05 )
Profit-taking at: 0.6372267492061235 (profit taking percentage: 0.05 )
* * * * *
liquidity profile:
DEX: uniswap_v3 , Pair: weth <> zeroliquid , Volume: 1859002.676450395
----------------------------------------------
WARNING: This repo is purely for experimental purposes for the community to learn how they may leverage Paloma messaging to execute cross-DEX trades. This repo is not investment advice and the code comes with no warranty on its performance.
Pigeon of the Week: The New Zealand Pigeon
New Zealand pigeon (Hemiphaga novaeseelandiae) known as kererū, or in Northland as kūkū or kūkupa. The kererū is a large bird with irridescent green and bronze feathers on its head and a smart white vest. The noisy beat of its wings is a distinctive sound in New Zealand forests.
source: https://www.doc.govt.nz/kereru
Conclusions:
Paloma upgrades to Go-Ethereum keep Paloma in-step with the coming Ethereum upgrades for message signing. Check the Paloma Github https://github.com/palomachain/palomafor ongoing updates and pull requests for package updates for Paloma chain. We are still testing for new behaviors that may arise from these upgrades and hope to keep the community updated on the next testnets that will fully test these new features.
Transak integration into https://palomaswap.com enable pigeons to collect GRAINs with fiat by simply purchasing any native token and swapping for GRAINs. Community members can now Purchase. Swap. Claim and Stake GRAINs as part of the ongoing Paloma GRAINdrop.
Of course, PalomaSwap users also now have a new tool. Momentum trade signals on all the DEXes listed on PalomaSwap. Experiment with entry and exit stops on swaps and explore how Paloma will be able to automate the difficult task of tracking and executing trades when they must happen.
To learn more about Paloma, please visit https://palomachain.com
To follow the project on Github, please star the project https://github.com/palomachain/paloma
To participate in the community, please join the Paloma Discord: https://discord.gg/HtUvgxvh5N
