PIP03 - Development roadmap

Overview of development process

We have formed a group of developers on Discord and we’re looking forward to starting work on making Pangolin even better.

We want the community to be involved as much as possible and as such we are proposing a process for deciding what the priority items are on our development roadmap.

The process will be as follows:

  • Community devs will submit a PIP (Pangolin Improvement Proposal) in the governance forum with a list of potential features we can work on
  • The PIP will be open for discussion and peer review for two weeks
  • After the two weeks, elapses, the community devs and mods will submit the proposal on Snapshot as members. These specific proposals can be found under the core proposals.
  • The different features will be voted on
  • The features we’ll work on will be ordered in priority via how many votes are received. For example, if there are two options and option a gets 100 PNG and option b gets 50 PNG. Then option a will get higher priority.

Important to note The community will define the priority of the roadmap, but it will not decide implementation details.

Current list of proposed features

So in line with this the first set of features we’re proposing are:

  1. Order Book - Similar to http://app.velox.global/
  2. Bridge Incorporated Into Pangolin (Ethereum and potentially BSC and Huobi)
  3. Beta.Pangolin.Exchange Test in Prod Site
  4. ITO (Initial Token Offers) Pangolin ITO (Initial Token Offering) | by hariseldon | Mar, 2021 | Medium
  5. Compound Autonomous Proposals

Order book

Benny has come up with a very well thought out proposal for this functionality, which can be found here:

Bridge

Currently there is an Ethereum Avalanche bridge released by the Avalanche team. Complus has also released a bridge to BSC and Huobi. This proposal is to incorporate the bridges into Pangolin. This would then allow us to trade cross chain assets on Pangolin.

Beta site

This would allow the developers to release early access features to a beta site, similar to Kusama’s design principles. It would serve as a Canary in the coal mine, where we could test new features on the mainnet, before deploying them to the broader community

ITO

This would allow new projects to launch on Pangolin. It would allow new tokens to gain liquidity and allow presales of new tokens. Another benefit would be that PNG would be the token of exchange for all new Tokens, thereby increasing utility of PNG

Compound Autonomous Proposals

This is a feature that will allow us to control the quality and ability of users to engage in the governance. Currently the process hasn’t been formalised, but if we adopted this feature, it would introduce more formal processes to governance. Please see below for more information:

Summing up

Now that we’ve listed this, we will leave this open for 2 weeks for feedback and peer review. Please ask questions and engage as much as possible as on the 5th April 5pm UTC+10, feedback will end and the proposal will be listed on Snapshot.

Please be kind and considerate and let’s get cracking making Pangolin the premiere DEX in DeFi.

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This is absolutely exciting, I completely support this idea.

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Excellent news, I would say lets go for ITO, then bridges, others are more nice to have, but ITO and bridges would make a more functional and attractive DEX.

Once again congrats and thanks for taking this kind of initiative.

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just do it,as soon as possble

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All the initial proposals you mentioned sound great.

I’d like to suggest another for future consideration: multiple opportunities for providing liquidity. I’d love to see a path for traditional LP, but also single sided liquidity with reduction or elimination of impermanent loss (such as bancor allows if you provide liquidity with them for 100+ days). I’m not sure if the bancor model would be the best, but it would be great to have a few options to provide liquidity (and options to lower or eliminate IL over time).

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Great stuff!

How would Orderbooks look different than Velox? I thought it was already going to use Pangolin, if I am not mistaken.

Very good.
I’d like you to consider that two weeks might be too long for some proposals and that there should be a minimum of two days (preferably 3 -5) for the snapshot voting.
We need long enough for discussion and debate but things also need to progress.
Good work putting this together.

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Yeah Impermanent Loss is something I’ve been thinking about a lot. I like a pathway for traditional LP’s. I think to allow an on ramp for TradFi, you have to have the ability for Fiat to come into the DEX.

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I’m not sure how Velox implements their trading bots in the background. Don’t believe the code is open source so I couldn’t tell you their implementation details. The Order book proposed by Benny is using an on chain approach so that there is a FIFO queue which determines when the price is reached.

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Thanks mate. I agree things need to progress and I have a healthy distrust bureaucracy.

Having said that, development takes time. Having a decent window for discussion and decision will allow the devs to focus on their work without constant distractions. It also seems fair to allow people that may be online that often or due to unforeseen circumstances an ability to still engage.

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Just another thing to take note of here in regards to the cross chain bridge. If we were to build this we’d need to ensure that the Huobi Eco and BSC bridge was secured with trusted relayers.

One of the discussions happening at the moment, is the possibility of Pangolin becoming one of those trusted relayers. In this model the relayers would need to be economically rewarded for being relayers. It would make sense to use the Swap fees to pay the relayers.

If we had to look at an example of how this might work in practice. I find a BSC token that I want to purchase that doesn’t have any liquidity on Pangolin. Let’s use $CAKE as an example. So instead of switching my Metamask wallet to BSC and then logging onto PancakeSwap to purchase $CAKE, I log onto Pangolin, select a cross chain trade, I then get a quote on the bridge fee and the swap fee. I agree to the fees and make the Swap. I get the $CAKE in my Avalanche Metamask wallet and the fees paid are used to pay the relayers.

One thing to note, the swap fees on the Pancake side of the exchange will still go to PancakeSwap LPs. So for this model to work, the end user would need to pay two Swap fees. The Pangolin Swap fees will be used to pay the Relayers who run the bridge.

If Pangolin was one of the 5 relayers, then the swap fee would be distributed equally to all bridge relayers and Pangolin would receive 1/5th of the total swap fees.

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What about Pango’s own ETH bridge? From users perspective it would be much easier
to have a bridge right here then go through AEB and bridge fees can help build future
projects?

To be honest, I like all the proposals. The order book is a great idea, I really like it. The bridge incorporated into Pangolin would be awesome and also the idea of Pangolin becoming a relayer is pretty good.

The beta site, the compound Autonomous Proposals and especially the ITO are all good ideas. I support all of them. Great work, this is the kind of community that we need.

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Pangolin doesn’t have a bridge. So Avalanche has a bridge to Ethereum we can utilise. We can link to it in our front end so the user doesn’t actually know they’re using AEB in the background. But thats only to Ethereum.

Bridges are expensive and you need a minimum of 5 relayers. So we’d have to dig into the treasury for this if we wanted a bridge to BSC and Huobi

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Also important to note is that Chainsafe Chainbridge also supports Polygon, Polkadot and Kusama

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Good stuff there.
I particularly like the ITO mechanism. I think it’s very good to convert part of the sale to permanent liquidity in a new token.

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great! Im in
an 5k+png holders :’(

Great Ideas droped. I fully support the effort.
We need to keep in mind that the other competitors arent sleeping and
we need to be fast and show them the power of our raising community. #PANGO

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Good ideas. Would be good to come out with different LP incentives like Sushi does for example with Onsen. Avalanche is still young but we need to start collabs with the new projects. Also 2 weeks is so long that it feels like a corporate in the real world. I think 1 week or 10 days is the maximum otherwise it’s loosing the drive. Maybe the best thing to do first is hire top devs.

Btw if you want to get inspired, you should go check Badger and their forum and community, pretty impresive how they deal with things.

1 Like