PowerPool
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PowerPool

Alpha Round Results

The Alpha round is over! We’ve fixed all the bugs — thank you for the incredibly fast feedback, community. Now we are ready to answer your questions.

In fact, the most prevalent question about the Alpha round was about the choice of Matic and xDai. In this article, we’d like to disclose details and results of our Alpha round and clear some things out. PowerPool is — apart from being a governance hub — a cross-chain solution. Its idea is to unite users of different L2 chains under one functional roof.

We’re still analysing the market and are looking for different candidates to be added to the PowerPool ecosystem. In the future, we may add more L2 networks to the platform. Big thanks to Matic as a first supporter of our idea! We welcome other sidechains to collaborate.

During the Alpha round, we’ve launched PowerPool contracts on Matic and xDai networks. One hundred addresses were involved with some limits for mint() and borrow() operations. We’ve developed instruments for testers tx analysis and smart contracts parameters behavior.

During the Matic testing period, we faced the follow issues:

1. Call methods in the contract didn’t work from truffle with “insufficient funds for gas * price + value” error.

2. When a transaction was signed in truffle and broadcasted by web3 “sendSignedTransaction” method, there was no answer from RPC with transaction hash/receipt.

These errors did not concern the user interface or smart contracts, but the analytical tools. At the time of the Matic test, the ERC-20 token I/O was only available with a Plasma bridge with seven days token freeze, which is not convenient for users. We assume that the full launch of the protocol on the Matic network will be possible after implementing the POS bridge on the network, which will allow the transfer of tokens between networks without delays. We are actively working in this direction together with the Matic team.

Errors during the xDai testing period applied to the user interface only:

1. There was an error when contract liquidity was lower than the borrowing limit. In that case, users were getting the error BORROW_CASH_NOT_AVAILABLE. It was fixed by setting the max borrow amount based on available contract liquidity.

2. Due to numbers transformation problems(from JavaScript numbers to WEI) — some users were getting reverts on trying to mint() or repay(). But we solved it by post-processing numbers and bringing it to values that were fetched from Smart Contracts.

3. During testing, we made several UI improvements based on users’ feedback to achieve a better user experience. For example, a “Wrong network” popup was added, which should help users figure out — what to do on the first visit.

xDai network allows fast (8 blocks in Ethereum) and cheap (2–4 USD) transfer of ERC-20 tokens between Ethereum mainnet and xDai.

Based on the test results, we can say that both chains are suitable for the protocol. At the moment, we plan to support the protocol simultaneously on Matic and xDAI. The users of the protocol will decide how much liquidity to transfer to any of these networks.

Regarding the Beta round, we’ll start sending invitations tomorrow. You’ll get all the information about limits, governance tokens, and timing. Every participant will have to provide liquidity according to our randomized selection. Stay tuned!

Twitter: https://twitter.com/powerpoolcvp

Discord: https://discord.gg/hYJXUBQ

https://powerpool.finance

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