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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:

  1. Proposal Process: Initiated by our team and presented to our active community.
  2. Feedback and Iteration: Multiple rounds of feedback and iteration to refine the proposal.
  3. Agreement and Implementation: Upon reaching agreement, we proceed with technical design and implementation.

Funding Based Fees

Latest Delivery Target July 12, 2024

ObjectiveAlign miner fees with client expectations based on contracts, swap fees, and funding rates.
DetailsRunning SN8 like a pseudo-futures based exchange. Miners will be charged for keeping positions open for longer periods.
BenefitThis alignment will ensure that fees are more predictable and fair, based on the duration of positions, making the system more attractive to clients.
ReferenceFurther details can be found in our existing proposal.

Predictability as a Priority

Proposal July 15, 2024
Latest Delivery Target July 17, 2024

ObjectiveAlign incentives with miners who have a high probability of capturing future returns.
DetailsFocus on long-term returns and potential modifications to the consistency penalty to prioritize monotonic portfolio value.
BenefitEncourages 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

ObjectiveEnhance auto sync by constructing the validator checkpoint using a peer to peer distributed synchronization process.
DetailsReplace the existing Google Cloud auto sync, and allow validators to share positions.
BenefitEliminates single source of checkpoint, distributes checkpoint generation amongst trusted validators.
ReferenceFurther details can be found in our existing proposal.

Extending Performance Lookback

Proposal July 10, 2024 - July 20, 2024
Latest Delivery Target July 31, 2024

ObjectiveIncrease the performance evaluation period from 30 to 60 days.
DetailsMore information to determine miner performance for incentive purposes, impacting the network strategy. This extension may continue over time.
BenefitAllows 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

ObjectiveBetter risk management for the network strategy.
DetailsImplement a maximum leverage limit for miners across all positions.
BenefitReduces 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

ObjectiveLimit overlapping information on the network to reduce the influence of a single strategy.
DetailsEnsure incentives are shared for novel contributions to the system.
BenefitPromotes innovation and diversity in strategies, enhancing the robustness and adaptability of the network.