What is pieLabs working on now

1) Uniswap V3 Price Oracle.

More and more projects are moving their liquidity from Uniswap V2 to Uniswap V3. And in order for us to be able to create lending pools for them, we need to create a price oracle for Uniswap V3.

2) Fee for creating new pools

There is a risk of a spam attack on the protocol. To counteract this, we are going to introduce a fee for creating a new pool. Fees will be determined through the governance, but we are thinking about $100 in PIE tokens.

3) User validation of new pools

Because there is a risk of creating a pool for a malicious token (this is how the last attack on the protocol was carried out), we have made a delay for the start of loans for new pools. Now we need to ensure the validation of new pools. Validation must be fast, therefore cannot go through governance, as governance proposals are performed with a delay of a week or more, but validation should also be decentralized so that it would be less dependent on one person. Therefore, you decided to divide the validation into a few stages:

1. Operative freezing of malicious pools

Each user can freeze a new pool if he considers the token to be malicious, capable of harming the protocol. But for this, he will need to freeze a certain amount of PIE tokens from his account for a certain period (The term and amount are determined by the governance, but we are thinking about the amount of an equal commission for creating a pool and a period of 30 days).

2. Appeal through governance

Once a pool has been frozen, the community through governance has the option to revoke the freeze if it decides the freeze was in mistake. In this case, the validator’s PIE tokens are burned.

3. Validation Confirmation

If in 30 days the governance has not made an appeal for the frozen pool, then the validator has the opportunity to call a special function of the protocol and get back both his tokens, which he froze for validation and a bonus equal to the commission for creating the pool. For example, if the commission was $100, the validator froze $100, then he will receive back $200 in PIE tokens.

4. Burning PIE tokens

All commissions for creating new pools that were not paid to the validators (if the tokens were not malicious) are sent to burning, thereby reducing the supply tokens and creating a deflation of PIE tokens.