The wPOKT LBP
Following the execution plan this week, several Pocket team members and community members had run an internal test version of the wPOKT LBP on the Kovan Testnet Network. The LBP went off without a hitch!
An internal test for the wPOKT farming app has begun and will continue throughout the weekend. The team looks forward to sharing these results in the next wPOKT dev log.
This application was commissioned to RaidGuild. Pocket worked together with the RaidGuild team for over 8 weeks to complete it earlier this year. As part of the development process, there were several simulations run by various team members before Pocket deemed this application as finished and entered into a waiting period for the bridge to be completed, as the community requested. To dot our i's and cross our t's, Pocket is doing another internal testing session this weekend.
The farming dapp consists of three core components:
- The frontend (a react application)
- The subgraph, which pulls data from the subgraph
- The farming contract
As explained in the Green Paper, the Pocket team went with an audited & battle-tested contract for the farming use-case, which is the TokenGeyser V1 contract from Ampleforth.
The farming app supports EIP-1559 out of the box for all the transactions, which will save gas for farmers. Along with wPOKT being a gas-efficient token, this means that the cost of transacting with the farming app will depend on the current gas landscape of Ethereum.
Regarding deployments, the wPOKT farming frontend will be deployed using Vercel and the wPOKT subgraph will be hosted on our own infrastructure for guaranteed availability and performance.
The wPOKT <> POKT bridge is in its final development stage. From here on out, testing and quality assurance will be our priority.
The liquidity-based bridge will be supplied by a Gnosis Safe multi-sig with the objective that various trusted ecosystem members can cooperatively control the funds in the wallet to ensure liquidity of the bridge is maintained.
The objective is to have a multi-sig of 7 signers and we will require a predefined number of 5 signatures to confirm every transaction in order to execute it. This high threshold will secure the wPOKT contract.
The next major step will be the bridge audit. Next week we expect to provide more clarity on the milestone of the bridge auditing process.