Introduction to PowerAgent
PowerAgent Network automates smart contract execution for any protocol to use
The PowerAgent Automation Network is open for use by any client protocol seeking to incorporate open-source, generalised, permissionless, autonomous, decentralised, configurable, cost-effective and secure automation into their on-chain products and services.
Open source codebase
- Open to inspection by client protocols and their users at any time
- Shared with increasing number of other client protocols, all participating in audits and testing
- Open to being extended by all protocols using the network
- Supports an expanding number of basic event-driven functionalities.
- Reduces client protocols' need to code, audit and maintain.
- Task-specific signer set requirements scale from low value, low penalty to very high value, high penalty tasks.
- Anyone can join the PowerAgent Network as a node/keeper simply by staking sufficient $CVP.
- Any (EVM compliant) protocols can choose to use the Network, initially on EVM-compliant L1/L2s
- Client protocols can increase/decrease their signer set credentials requirements by task, at any time.
- Nodes/keepers can increase or reduce their signer set credentials at any time.
- PowerAgent task execution is totally independent of the client protocol, increasing trust and reducing points of failure.
- Users of client protocols are able to independently audit and monitor tasks, even become Network node operators.
- Nodes operating on a given EVM-compliant L1/L2 are totally independent of other chains/layers.
- Client protocols can specify the minimum number of independent nodes/keepers in their task-specific signer sets.
- No single point of failure or dependencies in the PowerAgent automation network
- No upper limits on numbers of nodes/keepers or client protocols
- Event triggers, task specifications and minimum signing requirements defined task by task by client protocols.
- Chronological events can be triggers, for example auto-harvesting staking yields, etc.
- Oracle-based calculations include stored state, enabling for example, token baskets re-balancing options like calculating worst performing tokens in the basket, automatically selling half and buying more of all the other tokens in the basket.
- Fees defined task-by-task, independent of market conditions, leading to lower costs, and more predictable task execution for users.
- Fees can be varied based on other evaluated conditionality.
- Allows client protocols to forecast and control the cost of reliable automated contract execution.
- Competition between increasing numbers of nodes/keepers make it virtually impossible for bad actors to act alone or in collusion.
- Usage by ever-more protocols across ever-more EVM L1/L2 chains/layers contributes to continuously hardening codebase.