PTN Roadmap of Work - July 1, 2024
There are six major updates we will add between July and September that will help us finalize the network strategy and achieve the exact performance we’re aiming for. As a reminder, each feature follows a structured rollout process:
- Proposal Process: Initiated by our team and presented to our active community.
- Feedback and Iteration: Multiple rounds of feedback and iteration to refine the proposal.
- Agreement and Implementation: Upon reaching agreement, we proceed with technical design and implementation.
Funding Based Fees
Latest Delivery Target July 12, 2024
| Objective | Align miner fees with client expectations based on contracts, swap fees, and funding rates. |
| Details | Running SN8 like a pseudo-futures based exchange. Miners will be charged for keeping positions open for longer periods. |
| Benefit | This alignment will ensure that fees are more predictable and fair, based on the duration of positions, making the system more attractive to clients. |
| Reference | Further details can be found in our existing proposal. |
Predictability as a Priority
Proposal July 15, 2024
Latest Delivery Target July 17, 2024
| Objective | Align incentives with miners who have a high probability of capturing future returns. |
| Details | Focus on long-term returns and potential modifications to the consistency penalty to prioritize monotonic portfolio value. |
| Benefit | Encourages miners to adopt strategies that offer more stable and predictable returns, assigning more system attention to top miners through the full course of their positions. |
P2P Validator Syncing
Latest Delivery Target July 19, 2024
| Objective | Enhance auto sync by constructing the validator checkpoint using a peer to peer distributed synchronization process. |
| Details | Replace the existing Google Cloud auto sync, and allow validators to share positions. |
| Benefit | Eliminates single source of checkpoint, distributes checkpoint generation amongst trusted validators. |
| Reference | Further details can be found in our existing proposal. |
Extending Performance Lookback
Proposal July 10, 2024 - July 20, 2024
Latest Delivery Target July 31, 2024
| Objective | Increase the performance evaluation period from 30 to 60 days. |
| Details | More information to determine miner performance for incentive purposes, impacting the network strategy. This extension may continue over time. |
| Benefit | Allows for a more comprehensive assessment of miner performance, leading to better-informed decisions on incentives and network strategies. Extending the timeout period where a miner’s incentive is set to 0 for crossing a 5% MDD (maximum drawdown). |
Reducing Max Leverage per Miner
Proposal July 15, 2024 - July 30, 2024
Latest Delivery Target August 14, 2024
| Objective | Better risk management for the network strategy. |
| Details | Implement a maximum leverage limit for miners across all positions. |
| Benefit | Reduces the risk of significant losses due to over-leverage, promoting more sustainable trading practices. This will restrict both the capacity of a miner to vault to the top with one lucky transaction or have a substantial impact on a network model with a losing position. |
Plagiarism Detection
Proposal August 10, 2024 - August 24, 2024
Latest Delivery Target September 20, 2024
| Objective | Limit overlapping information on the network to reduce the influence of a single strategy. |
| Details | Ensure incentives are shared for novel contributions to the system. |
| Benefit | Promotes innovation and diversity in strategies, enhancing the robustness and adaptability of the network. |