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
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
Admin Keys
- Will have on-chain governance with a quorum of 33% of all staked GRAIN.
DAO
Treasury
Token
Launch
Token Allocation
Utility
- GRAIN is the inflationary token used to pay validators. It has 7% inflation per year (11-14-2022).
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed here.
- Consensus mechanism:
- Algorithm:
- Virtual Machine:
- Development language used:
Transaction Details
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."
Upgrades
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. "
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
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."
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
Funding
Partners
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