Previous Thursday we were very pleased to visit the Gnosis Validators Meetup and once more share the information about the PowerAgent network: how running the PowerAgent node benefits validators, how to become a PowerAgent noderunner, how to install the software, and how to automate your web3 journey on Gnosis.
PowerAgent is a decentralized permissionless blockchain automation network. It offers blockchain-native automation for users and protocols, such as interval-based tasks (e.g. claiming rewards) and complex resolver tasks with arbitrary on-chain logic (e.g. limit orders, liquidation protection, etc.).
We emphasised the necessity of a blockchain-native automation service that is resilient to the flaws common to centralized solutions and eliminates single point of failure in such systems. Decentralized automation network, backed up by the proper tokenomics model, is the only way to a trustless, robust and scalable automation solution for Web3 infrastructure.
The cornerstone of the PowerAgent network are the independent noderunners — Keepers
Anyone can become a Keeper by installing and running the node software. A minimal stake of 1000 CVP is required to become a keeper. The stake acts as an insurance against malicious or negligent Keepers.
The Keepers receive native token rewards (and additional $CVP rewards provided by the PowerPool DAO) every time the node executes an automated task submitted into the PowerAgent network. This is especially interesting to blockchain validators, as the node uses the already existing, synchronized and running blockchain node as a source of information. Running a PowerAgent node becomes an additional source of income for blockchain validators and does not require any actions but the initial setup.
To set up a node, the runner has to do 2 things:
- Install and run the software
- Register the Keeper in the PowerAgent contract
The node software is essentially a node.js application, written in TypeScript. It is distributed as a standalone application or as a docker image. PowerPool also partnered with DAppNode to bring up the DAppNode package for the PowerAgent node, which is available in the DAppStore via the hash.
To register a Keeper, the noderunner can use an intuitive UI. Firstly, you register a freshly created account as a Keeper, then stake some CVP tokens (1000 at least) and, finally, activate the Keeper.
A detailed step-by-step guide is available on docs.powerpool.finance, as well as in a notion page.
Once done, the node will automatically subscribe to the events from the core PowerAgent contract and execute automation tasks submitted by users. Even though the PowerAgent network is in a test phase, you can already utilize it to automate your routine tasks. For example, a Job created by @haurog automatically claims the validator rewards once the certain threshold is met, and swaps the rewards for EURe.
All stats on the earnings in the Gnosis PowerAgent testnet phase can be found on this comprehensive Dune.xyz dashboard. Here are some key takeaways:
- 199 Total Keepers registered
- 99 Active Keepers
- 50,022 automated transactions executed
- 212.541 xDAI already paid out to Keepers
- 13100 $CVP already distributed among the best performing Keepers
$CVP rewards are issued for successive node running, proper bug reports, community assistance and other actions that help the PowerAgent network and its users.
Check out the documentation and the landing page to know more about PowerPool and PowerAgent.
Fill in the form to start executing tasks and receiving rewards today!
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