Tracer to implement EPNS decentralized notifications

Summary

Ethereum Push Notification Service (EPNS) is a Protocol for blockchain based notifications that are platform agnostic and incentivized!

At a high level, with Tracer leveraging EPNS for decentralized notifications, we are looking to work together on the following use cases:

  • Sending notifications to users when a new proposal is uploaded to Snapshot.
  • Notifying users when a community call is 30min from commencing.
  • Notifying users when their market order has been filled.

This represents a big step forward for User Experience, and will have an immediate impact in user engagement and user retention.


Motivation

In decentralized finance, innovation is the name of the game. It’s not only about what can be invented, but also how to make the best use of the tools available to improve user experience and create a one-stop-shop for a unique market segment.

As of today, many protocols have to rely either on communicating with their users via email or through social networks such as Twitter, Telegram, etc.

Implementing EPNS decentralized notifications establishes a direct channel (Tracer <=> Users) that will allow users to receive important notifications directly to their wallet addresses and earn from it!.


Deliverables

A total of three channels will be created to start:

Channel: Tracer Governance
User: DAO and invested community members

  • Notification: Update when a new proposal is uploaded to Snapshot. (e.g. DeFi Pulse & Tracer DAO collaboration has been uploaded to Snapshot)
  • Notification: Update when a proposal has been passed on chain
  • Call to action: View proposal and make - increase voting turnout for Tracer DAO. And view proposals that has been passed and completed.

User: TCR token holders (DAO members)

  • Notification: Push notification when a new proposal has been pushed onchain after snapshot voting.
  • Call to action: Relay vote from snapshot to pass proposal onchain.

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Channel: Tracer Community Calls
User: Anyone in the Tracer ecosystem

  • Notification: Update when a community call is 30min from commencing (Join Lion’s Mane for the Tracer community call on Clubhouse in 30minutes).
  • Call to action: attend call and increase community awareness of project status.

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Channel: Tracer Perpetuals
Defined for 3 user types:

  • Traders who have an open trade on Tracer >l< Perpetuals.
  • Insurance direct depositors – users who have directly deposited into the Tracer insurance pools.
  • Traders who are generally interested in Tracer’s perpetual markets.

This channel can eventually be separated into 3 different channels to ensure a more granular approach towards more targeted notifications.

Some of the use cases identified for notifications so far are:

  • If a market order has been filled.
    Call to action: View order (takes user to trading history in their portfolio).
  • If a user’s position is approaching liquidation (i.e., margin approaching maintenance margin).
    Call to action: Deposit more margin.
  • If a position has been liquidated.
    Call to action: Learn why this happened – link to docs.
  • If a user can make a profitable withdrawal considering the current withdrawal fee.
    Call to action: Claim rewards.
  • If the withdrawal fee is zero.
    Call to action: Claim rewards.
  • If direct deposits have been used to cover another trader’s loan default (% of direct deposit).
    Call to action: Learn why this happened – link to the docs
  • For each perpetual market, notify users on the movement of the market: e.g., ‘If perpetual market XYZ (e.g., ETH-USDC) has increased/decreased XYZ percent (e.g… 30%)’.
    Call to action: View market or place trade
  • Notify subscribers when any new DAO governed market is deployed.
    Call to action: View market or place trade (takes them to the trading page on the specific market).

EPNS Background

We have a list of channels that our team have worked on to show the power and flexibility of EPNS decentralized notifications. They are available at https://app.epns.io/

Some of the channels:

  • Wallet tracker: to monitor your wallet and get a notification when you send/receive tokens.
  • ENS domain expiration: to receive a notification when your ENS domain is about to expire
  • BTC/ETH price tracker, Gas price tracker, others.
7 Likes

This is definitely something we should do. We can benefit from the Governance and Community Call channels right now, but I think we need to figure out how to control the channel from our side (since it’s definitely going to be troublesome if we use the DAO multisig to control our channels).

Maybe we should start a dedicated community manager EOA/multisig that is more flexible and don’t require a vote every time we want to push an EPNS notification.

Also, I have a question about the transferring of EPNS channels. I want to know if transferring EPNS channels is possible since it wasn’t mentioned in the docs.

1 Like

Hi @Beepidibop ,
Very good questions!

Actually, rather than thinking on “transferring” a channel a better alternative is Delegating other wallets to send notifications on behalf of a channel.

So with the DAO multisig in place, governance can chose which wallets to grant or revoke permissions to send notifications on their behalf for every channel.

let me know if it makes sense.

2 Likes

So hypothetically the DAO could vote in a member (potentially Lion’s Mane) to be responsible for sending notifications through a channel (for calls/governance proposals).

Correct!
Its not limited to 1 wallet, it can be multiple.

1 Like

I think this is something we definitely will want at some point soon. Regardless of how this specific EPNS integration looks (whether we use a multisig or multiple EOAs as suggested) having a community multisig for managing non-critical infrastructure would allow Tracer to move quickly with integrations that build up the ecosystem.

1 Like