🏗️ Builder All Hands

SHANNON SHANE’S 1ST BUILDERS ALL-HANDS! (FEB 8TH)

Highlights:

:building_construction: Shannon’s Architecture
:building_construction: February/March Goals
:building_construction: Grants update

Shannon’s Architecture:

Feb/March Goals:

  • Finish migration to the latest Cosmos SDK and launch Alpha testnet in February.
  • Launch a Public Testnet and focus on SDK and Gateway testing in March.

Builder Possibilities:

  • Cosmos SDK compatibility paves the way for integration with existing tools within the Cosmos ecosystem.
  • PNF to make more grants available for Shannon-based projects.

Grant Updates:

  • Transition from ‘POPS and Sockets’ to ‘Quick Grants’ and ‘RFPs.’
  • Introducing Karma Gap for impact measurement of grant contributions.

Grant Recipient Update

  • NodeWallet on track with planned features and discussing potential ledger integration with PNF.
  • Community Analytics to integrate a new tool for enhanced web and on-chain analytics.
  • 3D Governance Tool is nearing completion and has successfully conducted scenario testing.
  • POKTRadar UI is in user testing phase, with plans to unveil an MVP by EOM.
  • CoUnity developing onboarding quests to assess the knowledge level of new node runners.
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That’s a wrap!

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@PoktNews I think my main takeaway here is that Shannon is built on the COSMOS stack and that opens a whole world of building opportunities when it comes to building tools + SDKs for the new protocol.

For anyone tuning in, there’s a lot of opportunity to build tools for the protocol, and @shane listed a few in the call. On our end, we’ve got ERA budget available for building these tools. As a community we should be thinking about what tools are crucial to have as we move into the summer, and a much hotter market than we have over the last few years.

My question is what will we be upset we didn’t build if we hit another bull market? Are they defi tools, are they smart(er) wallets, are they ways to engage with NFTs or other culture-focused movements?

This is an opportunity to fund some of these things and take a few ‘moonshots’ as it were in anticipation of what could set us up for success, and i’d love people to start thinking about & pitching those ideas.

BUILDERS ALL-HANDS (FEB 22ND)

Call Highlights:

:building_construction: Morse & Shannon Tokenomics (Useful QoS)
:building_construction: Shannon Testnet Update
:building_construction: Grants Update
:building_construction: Karma Gap Demo

Morse Tokenomics:

  • Currently, for every one POKT burned by gateways, 135 POKT is minted for nodes. This setup could lead to self-dealing, with Gateways potentially directing traffic to their own nodes for a 13,000% gain. Crazy!

  • In Morse, Gateways operate on a permissioned basis, requiring legal contracts signed with PNF to prevent self-dealing.

  • But the burn-to-mint ratio isn’t all bad, as it creates a staking economy where stakers can earn up to 9%. This incentivizes holders to lock up their POKT.

Shannon Tokenomics:

  • In a permissionless Shannon world, the ideal tokenomics would look like this
    :point_down:
  • But we are a long way away from 25 billion daily relays at Shannon launch. Having a 1:1 Burn/Mint ratio with only 400 million relays currently, stakers would receive significantly reduced rewards, which would essentially kill the staking economy.

This leads to SHANNON’s TOKENOMICS TRILEMMA.

How do we roll out Shannon with an economic model that ticks all the boxes – permissionless gateways, self-dealing checks, and staking rewards that keep stakers from day one?

One proposed solution to solve it is “Useful QoS” (working title), proposed by @shane.

Useful QoS:

  • Useful QoS is about penalizing nodes that are not useful for app/gateways. If a node can’t operate in a manner that is useful for apps and gateways it is jailed. Gateways are incentivized to find the best nodes and nodes are incentivized to meet their quality requirements.

  • Useful QoS would:
    - Distribute rewards equally to all nodes in a session, eliminating the incentive for Gateways to target own nodes.
    - Jail nodes that constantly perform poorly or do not perform at all in multiple sessions.


  • It would also delay rewards for 6 sessions to ensure that only useful nodes are rewarded. This delay allows the network to identify and penalize underperforming nodes before rewards are distributed.

  • This solution is theoretical and research is still underway to figure out a few of the mechanics. But very interesting indeed.

Now for the other updates:

  • Goal to have Shannon’s migration from Cosmos SDK 0.47 to 0.50 completed before #ETHDenver.

  • A reminder that bounties are live.

  • Karma Gap, a Quick Grants management and impact reporting tool, is also live .

FIN!

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