One of the silver linings, indeed perhaps the only silver lining, from the bear market disasters of the past few months has been the opportunity it afforded the Paribus development team to deploy our MVP via testnet. Even this however wasn’t free from challenges, so in this article, we dive a little deeper into what the next few weeks and months hold for Paribus.
Our primary focus is to be able to transition from the testnet to the mainnet, but at the same time, we’ve also been limited by some of the issues inherent in the Rinkeby testnet. As Deniz, our CEO explains, “Now that we’ve made PBX available to be bridged onto Arbiturm and Milkomeda, many of the technical obstacles for mainnet launch have been overcome. There are still some important tasks we are working on such as internal testing and reviewing community feedback. We are getting very close to mainnet and we hope to have an official launch date announcement soon.”
It’s often easy to forget that the rate of development in blockchain technology is tremendously interconnected. There’s no such thing as a static environment that developers can integrate with as all chains and bridges are constantly iterating and updating their offerings. It’s analogous to trying to hit a moving target whilst riding a horse.
This aspect is highlighted by Wilson, our COO, “We have a few items on our agenda that need to be accomplished before launch. In particular, we need to deploy the infrastructure to the new network, this will be vital for the Paribus platform to operate on the given network. Also, we will need to create liquidity pools on the target chains to facilitate steady volume and price stability for participants.”
As many readers will know from our previous articles and Town Hall discussions, we’ve been working on several approaches to launch simultaneously. Due to the fact we’re coded in Solidity our initial launch was to be via the Arbitrum roll-up solution. In addition, we also had our dev team researching how we could integrate with Milkomeda to achieve cross-chain functionality.
Simon, our CTO explains some of the issues we’ve had to address with this approach, “As of now we are still planning to proceed with our mainnet launch on Arbitrum. There are some technical issues for why we would not be able to launch on Milkomeda immediately. This is due to the fact that Milkomeda doesn’t have subgraph support currently, which is a key component that interacts with the blockchain. We’re anxious to launch on Milkomeda once our protocol is fully compatible.”
To make things even more interesting Ethereum is due to undergo the first part of its merge from proof of work to proof of stake in the coming weeks. Although it’s unlikely, this may introduce some additional complications. The merge may be stalled and pushed further down the road or it may introduce some as yet unforeseen consequences.
All of these factors help to remind us just how close to the cutting-edge blockchain technology is. Not only are we at Paribus trying to develop an innovative new DeFi protocol, but we’re also surrounded by technologists developing things that have never been done before.
We’ve greatly appreciated having the extra time to deploy via testnet. Our devs managed to uncover a few minor bugs that were easily rectified to help ensure we’re ready to deliver a first-rate product to market.
You, the community, have also helped incredibly with comments and questions that have been fed back to the team. It’s enabled us to analyze and discuss areas we otherwise wouldn’t have seen so quickly and helps with our future iterations. Most importantly, though, your patience and understanding have shone through and helped us feel supported and encouraged.
Being able to gradually develop the MVP rather than having to rush to market has been a wonderful gift. We hope you’ll be as thrilled and excited as we are when we announce the launch date.