Smart contracts don't execute themselves - Part 2
Trustless, open-source code-based operation is increasingly important for DeFi protocols. EVM-compliant protocols and services cannot effectively automate ‘trustless’ timely ancillary ‘supportive’ transactions triggered by on-chain logic or time conditions. Such transactions require signing by another address external to the contract that needs to be called or executed at the right time and under the right conditions. Most effective DeFi strategies require many such operations, and ideally they should be autonomous, decentralized, and have balanced incentives for each operation.
In common terminology, a person, entity, or network controlling such an ancillary address, ensuring timely initiation of transactions signing based on predefined conditions, and maintaining all required conditions for tx signing (such as the ETH balance for gas required, continuous uptime server running) are typically called Keepers or Agents.
Smart contracts don't execute themselves, Part 1
PowerPool has been dealing with the problem of guaranteed on-chain transaction execution since the protocol launched in autumn of 2020. Ever since, we’ve been trying to perfect on-chain automation, together with other automation projects like Keeper.network and Gelato. PowerPool’s focus is especially on combining development of structured DeFi investment products with an enabling automation network we call the PowerAgent Network.
Our vision is that it is best to develop an open and trustless automation network like PowerAgent in open collaboration with current and future DeFi protocols, supporting a wide range of use cases, increasing the task load and the reliability of network operation.
Please note: PowerPool Research is not competing with any ‘boutique’ research agencies, Research DAOs, and other similar entities. We created it for solving issues related to PowerPool/protocols we are building on top and for collaboration with other researchers.
Today we are excited to publicly announce a research group funded by PowerPool DAO and a brand new publication blog for PowerPool research materials on mirror.xyz.
We aim to adopt various DeSci (Decentralized Science) tools over time and make our research web3-native and compatible with modern research principles.
PowerPool Research was created inside PowerPool DAO more than a year ago to solve problems that every protocol faces: on-chain data collection & visualization, building simulation models, product prototyping, stress-testing, exploring, and understanding novel Defi primitives.