Paradigm Community Update #11 — Network Client Reference Implementation, Bonding Curve Implementation, Portal Suite Updates, and an Open Call for Testnet Participants
These digests summarize the progress that we’ve made over the last month. If you’re new to Paradigm, we encourage you to read our documentation portal, and technical introduction article for a more complete summary of the project.
Network client reference implementation updates
Since the last update, we have implemented additional logic to the core state machine to push the client closer to an MVP and feature completion. In the last few weeks, we implemented rebalance logic (allocating network resources to stakeholders), signature recovery for order messages (previously only implemented in TypeScript), and began implementing “validator tracking” logic. We use the term “validator tracking” in the context of the network client as a catch-all for the logic necessary to support the decentralized governance of the network’s validator set, based on the nominations and challenges that occur within the protocol’s contract system (deployed on Ethereum).
Due to the critical nature of validator tracking processes, an expansive test suite is being built to ensure the client can safely and reliably manage the validator set deterministically under a variety of network conditions. This month we also began the process of integrating “fuzz testing” into the client’s test suite to ensure determinism is maintained and state machine behavior is predictable even under chaotic inputs. We’re excited to open-source the protocol’s new repository (containing our client implementation) soon to get feedback from the community, and begin the process of planning public test networks. For a more in depth overview, check out our June development update.
Bonding curve implementation (and revised white paper)
In our June development update, we gave an overview of the bonding curve implementation — a core mechanic of our protocol wherein constant contract-based liquidity is provided to both buyers and sellers of the protocol’s native token through the use of a bonding curve. This model is important to ensure a fair token distribution, where all interested parties are able to purchase tokens at any time after launch and are similarly able to sell back to the contract to unlock Ether collateral at any point. The use of a bonding curve also considerably enhances the UX of the network as interactions that would have previously required three transactions now only require one. We have recently begun the implementation of the bonding curve and are aiming for a feature-complete contract system by the end of the month. Alongside the open-sourcing of the protocol’s monorepo, we will be publishing a revised whitepaper for the protocol which contains far more details on this system. Check out our June development update for more information.
Portal suite updates
In our last development update, we discussed a suite of web-based interfaces being developed for the protocol. The most important of these initial portals is the governance portal, which provides an interface for token holders to participate in curation of the network’s validator set by challenging listings and voting in pending challenges.
These interfaces play a crucial role in any on-chain governance system, as the accessibility of information and ease of participation are requisite to a fair and efficient curation mechanism. The governance portal also provides an “account management” page, which simplifies interactions with the core contract system. It provides a simple interface for managing token balances, bonding tokens, and viewing past governance activity.
If you’re interested in becoming part of our closed alpha testing group for the governance and account management portals then reach out directly. We would also like to extend a thanks to those of you that helped with our different alpha and beta tests of our portal suite.
Open call for testnet participants
In the lead up to our main net candidate release, we are in the process of robustly testing our test network. We would like to extend an invitation to anyone interested to contribute to the testnet either as a validator or as entities wishing to make markets on the network. If you are interested in participating then please reach out directly.
Official Paradigm community channels:
