Dev Update #118-#119

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THORChain Author

2021-12-06 — 6 min read

THORChain Dev Update for Weeks 118–119, 22 Nov— 05 Dec; Liquidity Caps, MCCN Updates, Community Updates, and Bridge Updates!

Summary

The node count increased and Asgard Sharding occurred during a churn, taking the node count to 42. Caps were reached, preventing new liquidity from being added, but also allowing the network to be stable during churns.

Network Solvency Checks

BNB and ETH chains were briefly halted as the network solvency check detected issues.

BNB cause is believed to be a Binance Bug and will remain disabled (“mimir//STOPSOLVENCYCHECKBNB”: 1) until a root cause is found and patched to maintain uninterrupted service.

ETH cause was 0.015 ETH difference post a churn. This has been resolved and ETH Solvency check is active (“mimir//STOPSOLVENCYCHECKETH”: 0)

THORChain Liquidity Caps

There has been much discussion regarding the liquidity caps and the role recent IDOs have had. Update from the core team regarding this:

THORChain is not a ponzi scheme. If it were, then a deleveraging spiral would mean a liquidity crisis and certain death of the asset/network.

THORChain is a utility network that captures productive yield on native L1 assets. It has a design that can safely expand and contract. In fact, contraction is just as an important mechanism as expansion, if not, then it would become “too big to fail”.

THORChain is in Chaosnet. It welcomes chaos and it thrives on it, building a solid foundation for decades of operations.

Don’t get caught up hand-wringing a period of flat growth. The network just emerged from 4 months of halts/delays. Celebrations should be on a successful restart with $100m+ in assets.

The Chaos is not for everyone. Several NO’s have tapped out, but several more are coming in. THORChain is neutral to who runs/services it. NOs can come or go. The nature of the network to permissionlessly churn its validator group is a point for applause.

THORChain Ecosystem projects provide marketing and exposure. This is reflected by the fact the periods of highest engagement coincided with such events. Marketing to new users is an important pillar for projects.

However, it is not the only focus. THORChain the project bounces between periods of:

  • Stability and Security
  • Bonding Growth and NO Recruitment
  • Liquidity Growth
  • New Feature Rollout
  • Interface Recruitment
  • Marketing/Exposure

Not all can be done at the same time. For the foreseeable future, the focus is shifting to:

  • Bonding Growth and NO Recruitment

Then:

  • Liquidity Growth
  • New Feature Rollout

Audit Reports Released

Two Audit Reports of MCCN were released:

Trail of Bits Security Assessment — details issues found and a fix log.

Halborn TSS Security Audit — details 3 TSS issues found.

More audit reports are expected to be released.

All THORChain Audit Reports can be found at https://github.com/thorchain/Resources/tree/master/Audits

Creation of Stagenet for new Bridges

A new ‘Stagenet’ environment will be added to test new bridges with THORChain starting with DOGE then moving to ATOM and Terra.

See latest PR at https://gitlab.com/thorchain/thornode/-/merge_requests/2019

MCCN Updates

THORNODE UPDATE 0.75.0

1) [ADD] UnMark all validators. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2007

2) [ADD] Update asgard vault to include those dropped tx and refund. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2004

3) [BUG] Bifrost signer cache failed to remove failed transactions. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2003

4) [ADD] Add double sign block slash back. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2002

5) [ADD] Soft fork. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2001

6) [BUG] Optimize outbound transactions. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1998

7) [BUG] Map drop. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1997

8) [BUG]Add store migration to correct LP deposit values. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1994

9) [BUG] Fix calculate imp loss. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1993

10) [BUG] Resolve issues with outbound rune failures in withdraw. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1992

11) [BUG] Gas fee includes slip. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1990

release: https://gitlab.com/thorchain/thornode/-/tags/v0.75.0

Bad Validator Redline

Bad Validator Redline is how bad a validator can be relative to the average. It has temporarily been set to 20 to stop a repeat of large numbers of nodes being churned out. Long term the community will work out what the number needs to be for stability. After stability, it may be reduced back down.

Community Updates

THORNoob

Decentralfi.io THOR.ODIN Dev-Update #7

In a few words:

1️⃣ Swap/Add/Withdraw/Pending txn /Send ↔️
2️⃣ Testnet and Chaosnet on production. 🧪
3️⃣ Liquidity Tracking App 💯
4️⃣ Slippy, Slippage protection bot. 🤖
5⃣ Arby, Arbitrage Bot 🤖
6⃣ Bug sweep 🪲
7️⃣ Dashboards 2.0 teaser 🆕
8️⃣ Network State 🟢

✅ For full update please make sure to visit our medium post: https://decentralfi.medium.com/thor-odin-dev-update-7-6abd16314102

TRX1’s Weekly Dev Report (22/11–28/11)

• New type of notification: THORChain block production is too fast/slow
• Metrics menu: THORChain block speed chart
• NodeOp tools: Russian localization for alerts
• Some minor changes in the bot’s texts
• Internal: bi-stable trigger has been rewritten, bug fixes, more tests

Work in progress:
• Pool summary and rankings by APY, volume, depth

GrassRoots Crypto Update
Back to making videos, two recently released.

Videos Planned:
1. Blockchains and Tokens updated
2. How to access Synths

https://www.youtube.com/c/grassrootscrypto

Freki Dev Updates (11.11–30.11)

Midgard
- dump tool: store block messages from thornode locally
https://gitlab.com/thorchain/midgard/-/commit/d017de82bde7aa997c2126ceb15fe1ff34183883
- block store: zstd compressed dumps
https://gitlab.com/thorchain/midgard/-/commit/e2552db5998c133afdcbc904a7fb31bccd15813d
- block store: batched dumps, batch sizing
https://gitlab.com/thorchain/midgard/-/commit/18371c6024e469429630bd6ec7a9309493750afe
- block store: sequential and random access support
https://gitlab.com/thorchain/midgard/-/commit/4af171708bcdd4304a8d538f715d0bb7e498b403
- build: midgard is built now with golang:1.16-alpine for better cgo support https://gitlab.com/thorchain/midgard/-/commit/a45b92fce8cb176f760b75c4174950ce5d4f2163

THORYield

Dashboard V2 has been finally released!

https://app.thoryield.com/dashboard

Full list of Community Projects at https://docs.thorchain.org/ecosystem. Reach out on our Dev Discord if you want to get on the list.

Bridge status

Want to see bridges built quicker, get involved on our Discord Server!

Community

To keep up to date, please monitor community channels, particularly Telegram and Twitter:

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