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Update of April 26th, 2024

Last weekend, some team members met in person to better understand the direction we want to give to pNetwork, and define crucial aspects of internal reorganization. The two-day session was very productive and fruitful, and the discussions and decisions will soon be shared with the community.
Here's what the Association has been up to over the past week:
Bridge v3
  • Updated pToken contract to be upgradable to XERC20
  • Development of a new adapter to interface with XERC20 pTokens
Multiproof Labs
  • Development of EOS ZK light client-proof generator ongoing
  • SP1 and RISC0 light clients return the first and last block hashes
  • A vanilla light client has been added for testing purposes
  • Work is ongoing to enable TEE execution
  • Documentation has been added via a GitHub workflow
Business Operations
  • Proposal to allocate PNT to the Association to run nodes and cover some expenses. Read more.
  • Working with CEX such as Huobi and Gate to add PNT on Polygon

Update of April 19th, 2024

pNetwork bridge v3
  • R&D related to fee accrual on message passing
  • R&D on alternative decentralised solutions (Hyperlane, LayerZero, …)
  • Revision and improvements of the Specification document for v3
pNetwork DAO v3
  • Forwarders contract implementation (which enables DAO cross-chain interactions)
  • Rewards manager contract (which manages rewards to incentivize DAO participation)
pNetwork dApps
Multiproof Labs

Update of April 14th, 2024

We are pleased to bring you the first edition of the pNetwork Monthly Update! In April, we've made significant progress in transforming pNetwork v3 into a more streamlined and cost-effective protocol, while maintaining our commitment to full decentralisation. We also launched Multiproof Labs, a bold initiative to revolutionise interoperability with innovative light clients using breakthrough technologies such as zk-proofs and TEE. Additionally, we've increased the incentives for the PNT-ETH Liquidity Pool on Uniswap v3 to enhance liquidity and drive adoption. Read the full article and don't forget to subscribe to the Mirror to stay up to date with all pNetwork updates!

Update of February 16th, 2024

pNetwork v3 BETA release

We're thrilled to announce the launch of the pNetwork v3 BETA, which went live on December 21, 2023. This marks a significant milestone as we move closer to the full release of pNetwork v3!
We encourage expert users to explore the new features and capabilities of the new protocol here: https://dapp-v3-beta.pnetworkprotocol.eth.limo
⚠️ Please note, this is a beta version, which means it hasn't been audited yet and comes with certain limitations compared to the final version.
The beta version introduces the ability to bridge pairs of tokens across various chains, including:
  • PNT on BNB Chain (native), Gnosis, and Polygon
  • USDC on Polygon (native), BNB Chain, and Gnosis
  • DAI on Ethereum (native), BNB Chain, Gnosis, and Polygon
Do you want to try with a different token? Reach out to us!
For example, users can bridge tokens like DAI from its native blockchain Ethereum to Gnosis, and from Gnosis to Polygon, seamlessly and without constraints of going back and forth in the native chain.
  • This feature, the "ptokens-to-ptokens bridge, is well known in the pNetwork community, as it was one of the standout features from v2, and has been already integrated into v3!
  • v3 comes with a complete overhaul and redesign dApp! We're eager to hear your thoughts on these changes, so please share your feedback through the dedicated form available at the bottom right of the dApp page. The dApp now shows also a dedicated “Activity” tab.
  • Since the beta launch, we've implemented minor fixes and improvements in preparation for the upcoming audit.

DAO v3 is around the corner

Another major milestone for pNetwork and its ecosystem is just around the corner: the release of DAO v3, scheduled for early March current year.
This new DAO lives on the Gnosis chain, a choice that promises speed and low-cost transactions without compromising on security and Ethereum compatibility.
  • As we prepare for the launch, it's important for current DAO members to know the next steps for a smooth transition. This includes unstaking PNT tokens from DAO v1 on Ethereum and re-staking them on the new DAO on Gnosis. Rest assured, detailed instructions will be provided alongside the release of the DAO.
  • Besides being on Gnosis, the DAO v3 will also be available in compatibility mode on Ethereum, Polygon and the BNB chain. This will ensure that users can stake their PNT and participate in DAO proposals from their preferred chain, fostering a more inclusive and flexible governance environment.
  • One of the key objectives of DAO v3 is to address and overcome the challenge of DAO apathy, a problem that has also affected our pNetwork community. By migrating to the Gnosis chain, we are significantly lowering the cost barrier associated with voting, making it more attractive and financially viable for members to participate in governance. Coupled with enticing DAO incentives of 27% APY for active members, we aim to increase participation and ensure that our members are motivated to voice their opinions on governance matters.
  • In addition, the pNetwork Community Association is preparing to introduce some key DAO proposals. These proposals are being held in anticipation of the wider adoption of DAO v3, to ensure that when they are brought forward they will receive wider attention and support, underlining the pNetwork Community Association's commitment to meaningful and effective governance.

Progress on the Sustainability Plan

Following the approval of the Sustainability Plan at the end of November, the team has been working on its implementation, which covers both technical and non-technical areas.
Key developments include:
  • The ethPNT contract has been updated to allow minting by the DAO within the limits prescribed by the Sustainability Plan (maximum inflation of 20% per year, with a cap of 2% per month).
  • We've explored various LP incentive solutions for pNetwork tokens, leading to the imminent launch of incentives for the PNT-ETH pool on Uniswap v3. This initiative, in collaboration with the Merkl protocol, aims to increase liquidity in decentralised markets (more details in PIP-36).
  • We are working on a smart contract that will allow diversification of the DAO treasury directly through DAO votes, thereby strengthening the financial resilience of the DAO.
  • We are evaluating partnerships with third-party market-making solutions to promote a healthier trading dynamic for PNT on both centralised and decentralised exchanges.
To conclude, the pNetwork Association’s developer team recently gathered in person for our quarterly Strategy Meeting. This meeting was an opportunity for us to reflect on the current positioning of the pNetwork and to chart the course for the future of the pNetwork.
More information and new proposals will be shared with the community as they become more defined.

Update of December 7th, 2023

pNetwork Sustainability Plan

The last two months have been crucial for the future of the pNetwork, as the community discussed and approved the pNetwork Sustainability Plan. The plan includes
  • The 2024 Roadmap: Our plans to make pNetwork v3 a reality and drive adoption.
  • New business opportunities unlocked by the new level of decentralisation provided by pNetwork v3, better positioning in the cross-chain ecosystem and securing our position in the regulatory landscape.
  • Option for Micro-inflation on demand, the community's preferred scenario to sustain the project in the long term.
  • Inflation protection: Special incentives for active DAO members to protect users from necessary inflation and strengthen DAO governance and security.
More details can be found in the full version of the pNetwork Sustainability Plan.

DevConnect Istanbul & Cross-chain Interoperability Alliance

pNetwork participated in DevConnect in Istanbul and it was fruitful to highlight progress and validate the path taken with pNetwork v3. We actively participated in the Cross-chain Interoperability Alliance Roundtable organised by Hashi. This event brought together key players to discuss interoperability, governance, security and standardisation, emphasising the importance of collaborative efforts in these areas.
  • pNetwork has already contributed to Hashi with its first PR to integrate pNetwork v2, becoming one of the first cross-chain protocols to do so.

pNetwork v3

pNetwork v3 BETA is just around the corner! Despite some unexpected challenges that required additional time, we are now in the final stages of preparing for the release. An important notice is our decision to re-deploy the new DAO on the Gnosis chain for technical reasons.
Our focus remains on delivering a robust, secure and decentralised v3 bridge experience, even in the beta phase. We're also in open discussions with auditors to begin the process of auditing critical parts of the codebase to ensure the highest standards of security and reliability.
Our team has made significant progress over the last few weeks:
  • The pNetwork v3 specification document: This critical document is now complete and outlines the framework and functionality of v3.
  • Sentinels Upgrade: Sentinels have been enhanced with TEE integrity measures, providing improved stability and reliability in the operational cancellation assessment.
  • Incentive Optimisation: We've refined the incentives to enhance the security of Sentinels and Challengers.
  • Slashing Mechanism Improvement: Changes have been made to prevent potential deadlocks.
  • Beta release preparations: The v3 contract has been deployed and we're in an extensive testing phase for the beta release.
  • pTokens.js Library Update: This library now supports pNetwork v3, extending its capabilities.
The dApp v3 BETA has also seen some notable enhancements:
  • Swap Tour Implementation: A new feature to guide users through the swap process.
  • Mobile Optimisation: Ensuring a seamless experience on mobile devices.
  • UX/UI enhancements: We've added a price timeframe and other secondary features to improve the user experience and interface.

Update of October 23th, 2023

During Q3, significant effort was put into the development of the BETA version of pNetwork v3.
As we continue to work towards the public release of the BETA, which should be released next month, here is what has been achieved over the past few months.
  • The Challenger actor has now been fully implemented.
  • Other pNetwork v3 actors (Guardians, Sentinels, Relayers) have been further developed and now include registration and cancellation logic, the ability for guardians to resolve on-chain challenges and publish their state on IPFS.
  • Sentinels now support monitoring multiple chains at the same time and are much more efficient in synchronising than before.
  • Protocol and network fees have been implemented to reward actors.
  • Updated ptokens.js v2 (https://github.com/pnetwork-association/ptokens.js/tree/feat/v3-viem-p), which now includes support for pnetwork v3 and improved performance compared to the v1.
  • Worked on the new dApp for the v3 (https://github.com/pnetwork-association/ptokens-dapp/tree/feat/v3-tailwind2), which includes a brand new user interface, improved performance and reduced footprint, and integration of the new ptokens.js. Available for testing at ipfs://QmQuKmtiju8S68e5JjqrQmnnvKzzpXPwzv5SFQpcSFiY3o or https://dapp-v3-beta.4everland.app/#/swap
  • A new monitoring system for pNetwork v3 has been implemented.
The Q4 2023 Roadmap has been updated with further details and new milestones. the new version can be browsed here: https://pnetwork-association.org/roadmap-2023

Update of August 24rd, 2023

  • We've unveiled the vision for pure decentralization in pNetwork v3, detailed in a blogpost.
  • Following the launch of pNetwork v3 MVP, several key developments have occurred:
    • The Sentinel has been ported to run inside the Strongbox TEE, enhancing security.
    • The Challenger has been introduced, a new actor who oversees the behavior of Sentinels and Guardians, to enforce good Quality of Service and system’s security.
    • Fees for Relayers are now supported.
    • Host-to-host ptoken transfers are now available thanks to the support of an interim chain used for routing.
  • pNetwork dApp updates include:
    • Support for WalletConnect v2 has been added.
    • Custom RPC endpoints are now supported.
    • Added support for Algorand’s Defly Wallet.
    • More details on GitHub.
  • Since the release of pNetwork DAO v2 in open beta, several improvements have been made, including:
    • Presets support for the auto execution logic of voting proposals, facilitating the submission of advanced proposals by non technical users.
    • Bug fixes and general improvements

Update of July 3rd, 2023

  • Successfully released pNetwork v3 MVP, which allows to bridge USDC from Gnosis chain to Arbitrum (screenshot 🖼️) The codebase can be found here.
  • The implementation of a $10 minimum protocol fee has been introduced for all pNetwork v2 bridges, resulting in a doubling of the protocol revenue (fully distributed to pNetwork node operators). It is crucial for the stability and security of the pNetwork that the protocol generates enough revenue to compensate the nodes for their services.

Update of May 18th, 2023

  • Successfully transferred TKN test tokens from Ethereum Testnet Sepholia to Polygon Testnet Mumbai via pNetwork v3 (Sepolia → Mumbai user request and execution. - This is a significant achievement towards the goal of delivering the first v3 MVP bridge by the end of Q2.
  • Implemented the governance-message-relayer, capable of verifying on Ethereum that a given DAO message has been issued on Polygon and propagating it to other chains using Telepathy. More info on GitHub.
  • Launched the pNetwork DAO Test Drive initiative, a gamified quest programme for testers of the new pNetwork DAO v2: engage with the DAO, submit feedback and earn points for a chance to win PNT and other prizes.
  • Deployed several pNetwork dApp updates, including:
    • Thirdweb implementation to quickly deploy new dApp versions on IPFS without manual pinning.
    • Implementation of a github action to automatically create a new dApp release at each main branch merge.

Update of April 7th, 2023

  • Released the new pNetwork DAO v2 in open beta, with a bunch of new features that aim to: - reward active participants, - reduce accessibility barriers for node operators - improve PNT tokenomics, - enhance pNetwork governance and enable wider participation in pNetwork decision-making.
    • These goals are achieved thanks to a built-in PNT lending mechanism, which provides organic rewards to stakers who lend their PNT within the DAO, and at the same time allows wannabe nodes to borrow the required PNT.
      The DAO v2 is available on Polygon, Ethereum and BNB chain.
      More information here.
  • Published the audit of the whole pNetwork codebase performed by CertiK

Update of February 16th, 2023

  • Released the new interface for the pNetwork DAO (v1), which include useful charts, the ability to open DAO votes, an activity log and various UX improvements. Check it out here: https://dao-app.p.network
  • Revamp of the pNetwork official website, browse it here: https://p.network/
    • See a preview
      notion image

Update of January 24th, 2023

  • Released the cross-chain swap feature for other wrapped Bitcoin tokens, specifically WBTC on Ethereum can now be bridged to pBTC on several other chains.
  • Launch of the pTokens dApp in a fully decentralized manner (ENS + IPFS)