Discussion: PowerPool updates and future plans

In this topic, I publish a brief overview of what is happening in PowerPool and what stuff we are currently cooking. This information was posted on Twitter and recently on Medium.

This forum topic is created for receiving feedback/suggestions/questions from the CVP community and node runners.

What have we been up to?

After a long period of operating in stealth mode, we are now ready to start sharing our results with the community.

In this article, we wish to inform you of our latest achievements and breakthroughs in the sphere of generalized, decentralized, and reliable transaction automation solutions. We have also laid out a plan for Powerpool’s operation for the nearest future.

Academic research

The last couple of months we have been conducting extensive academic research, pioneering novel solutions to deliver a truly decentralized, robust, and efficient PowerAgent keeper automation network for various web3 applications.

Recently, we published our newest development — Random keeper selection and stake weighing algorithms paper. We explored approaches for random Keepers’ selection and stake weighted functions both theoretically and with Python simulations. In addition to that, in the upcoming weeks we plan to publish our achievements on the following topics:

  • ZK-verified off-chain computation, algorithms arithmetisation, and multi-party computation
  • Algorithmic pricing of keeper resources and stake slashing implementations

Academic research devoted to mechanism design of automation networks operation is a major part of our R&D activity. It will allow PowerAgent to become more secure, efficient and cost-effective for its implementation in smart contract execution use cases, including on-chain Defi strategies with a high cost of no-execution (so-called high-value tasks).

PowerAgent V2 testnet launch

The knowledge, obtained during our meticulous R&D phase allowed us to construct a superior version of a decentralized network for guaranteed automatic transaction execution and (coming soon) off-chain computation — PowerAgent V2.

At the moment, we are putting the finishing touches to prepare the launch of PowerAgent V2 testnet. In order to build a large-scale and diverse PowerAgent Keeper Network, we are collaborating with a major blockchain node software provider. We will announce soon all the details of our partnership. Such a partnership and integration will allow current Etherium node operators to easily install the PowerAgent software and participate in the automation keeper network, earning ETH fees for executions on top of validator rewards.

It’s simple — PowerAgent will provide an additional source of income for node runners, earning execution fees and rewards.

Our aim is to make PowerAgent as decentralized, robust and autonomous as possible, so we are partnering with a genuinely decentralized, open-source node provider with a flawless reputation, excellent tech and a diverse community.

Mainnet release and incentive grants

After the testnet evaluation period, showcasing the performance and capabilities of PowerAgent to the public, it will be deployed on the Etherium mainnet, and eventually on other EVM-compatible POS networks such as the BNB chain, Arbitrum, Neon Labs (Solana EVM compatibility protocol), Gnosis chain and Polygon.

For the mainnet launch, we plan to allocate incentive Node Runner Grants and Task grants.

Node Runner Grants will be allocated in CVP and incentivize the first generation of PowerAgent node operators. Early node runners and testnet participants will be eligible to receive these grants.

Task Grants will be offered to developers working on building automated DeFi products (or integrating the existing ones) to PowerAgent.

We expect, that in time, PowerAgent will be used by a wide variety of fee-paying third-party products and protocols.

New DeFi products

After the Etherium mainnet launch we will start several automated fee-earning DeFi products to demonstrate the full capabilities of PowerAgent V2 to robustly and effectively execute on-chain transactions:

  • LUCY[1],[2],[3] — a stablecoin pool, that pairs LUSD with a three-pool of USDC/DAI/USDT on top of Balancer v2, which benefits from 3 automatically optimized sources of income (Trading fees, native stablecoin yields and eventually Bal rewards)
  • LSTETH[4] — a broadly diversified, auto-rebalancing PowerBasket of 10–15 LSTs. It will become a lower-risk, higher-yield composable token.

Education and new content publishing

As part of our expansion, we plan to continuously publish simple articles describing automation concepts and case studies. These articles will be directed towards highlighting the necessity and advantages of the practical applications of decentralized and autonomous transaction execution solutions.

At the moment we are almost finished updating the PowerPool GitBook. It will contain everything starting from the concepts and finishing with the deep code description with comments, guides, and academic research results.

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