Paloma (GRAIN)

Paloma is a Cosmos-SDK blockchain that moves messages between any other blockchains. Paloma is designed for developers who wish to manage bi-directional messages between chains in a scalable and secure manner.

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

Admin Keys

• Will have on-chain governance with a quorum of 33% of all staked GRAIN.

Token

Utility

• GRAIN is the inflationary token used to pay validators. It has 7% inflation per year (11-14-2022).

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed here.
• Consensus mechanism:
• Algorithm:
• Virtual Machine:
• Development language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From their docs (14-11-2022):

"Smart contracts cannot self-execute state change on the blockchains on which they are deployed. As such, they require that state changes, and the accompanying computation of new logic, be sent to the smart contract from another state. Today these state changes are commonly run by centralized, custom-designed, closed-source programs, human-multisignature key arrangements, or low-end, multi-party computation circuits.

To solve this problem, Paloma aims to bring multichain, gas-optimized, and scheduled, messages managed by a permissionless validator set that manages both chain security and message security. In the Paloma protocol, validators fulfill two crucial roles. They secure the network through the Proof of Stake mechanism and also act as Pigeons (Relayers) who relay bi-directional, scheduled messages between Paloma and any other supported blockchain. In Paloma, validators are not able to opt-out of message-relay work, without exiting the active-set.

Since every active validator is also an active Pigeon, all messages are secured through consensus and the validators' stake. Validators must run nodes on every Paloma target chain and have the infrastructure and available funds to send messages on every chain. If these requirements are not met, validators will be jailed and their stake unbonded.

Paloma aims to make blockchain messaging ubiquitous and extremely easy for developers. Paloma messages are bi-directional and may be repeated or scheduled. Developers can write smart contracts in any language accepted by their target blockchain. Developers can control state change logic execution with Paloma's Cosmwasm language."

Fees

• From their website (14-11-2022):

"Paloma wants to remove gas fees from your thinking with its gas management module. Paloma allows anyone to run cross-chain messages with free gas, today. Power users are able to pre-pay gas as a subscription but regular users can use Paloma to send any cross-chain message without worrying about gas fees on the target chain."

However, further in the docs:

"Fees are distributed to validators in the same way as commission: proportionally to each validator relative to their total stake. A Block proposer can also get a bonus if the proposer includes more than the minimum of required precommits."

Staking

• From their docs (14-11-2022):

"Every block, new GRAIN is minted and released to validators and delegators as staking rewards. The rate for the minting of this new GRAIN is fixed at 7% per year. This total revenue is divided among a validator's staking pool according to each validator's weight. The revenue is then divided among delegators in proportion to each delegator's stake."

"If a validator misbehaves, their bonded stake along with their delegators' stake will be slashed. The severity of the punishment depends on the type of fault. "

Interoperability

• Is working on Ethereum and has BNB live on testnet (11-2022).

Oracle Method

• From their docs (14-11-2022):

"Paloma's gas price oracle is unique. Paloma aims to be a decentralized and global gas price oracle. Pigeons observe gas prices and provide quotes for message delivery. These quotes include a query or message relay fee for the Pigeon Relayers who will execute the message. Pigeons will price in the gas price risks, so developers will have dependable message delivery costs analysis for any target chain and any message size."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31