Dev Update #135-#136

2022-03-15 — 5 min read

THORChain Weekly Dev Update for Weeks 135–136, 28 Feb — 13 Mar; Terra Update, Activation of Synths, Hardfork, Roadmap Update, Network Updates, Community Updates.

Synths Launched, Terra audit completed, Testnet was hard forked and bond wars heat up. The network has been updated in preparation for the Hardfork. The Chaosnet Hardfork is scheduled for 19:00 UTC on Monday March 21 and will experience approx 3 hours of downtime.

Terra Update

External Audit Complete

Coding Completed

Nodes are technically ready.

Waiting on Hardfork in Chaosnet before activating.

Nodes currently syncing the chain and making preparations for activation

Activation of Synths.

Synthetics was launched with a 5% Asset cap marking a major milestone for THORChain. Activation was decided by node operators voting and the launch was a community-driven effort demonstrating THORChain’s community power and decentralisation. More information in the Launch Article.

Hardfork and Cosmos SDK

The Cosmos team decided they are not going to maintain version 0.42.x moving forward. THORChain is still using Cosmos SDK version 0.42.1, which means the network needs to upgrade to the latest version 0.45.1. This has promoted the upgrade to occur before the Terra launch.

As the Cosmos SDK underpins the THORChain blockchain, a Hardfork is required to upgrade. This will also reduce the chain size as the current state will be carried forward.

The Cosmos v45 upgrade has successfully occurred in Testnet, and will occur this week on Stagenet. Assuming no blockers are found, Chaosnet will be shortly after. There will be approx 3 hours Network downtime while the hard fork occurs. No action is required from users.

The Chaosnet Hardfork is scheduled for 19:00 UTC on Monday March 21. Detailed information is in the Migration Guide and Hard-fork Ecosystem Matrix.

THORFi Design Limited Release

The THORFi design has taken months to design with many iterations, tweaks, and even wrong directions at times. It is complex and there are a lot of moving parts. The core team has been thinking hard on the concepts for a while, it’s easy to grow blindspots, bubble thinking. The core team now wants to validate their thinking with fresh eyes from respected brains both outside and inside the community.

The THORFi design has had a limited release. People were selected based on a few different factors. They’ve proven to be economically intelligent individuals or have communication platforms to help the rest of the community understand the doc when released.

The design will undergo several more updates and tweaks before its public release.

Milestone Update

The below milestones are required before Mainnet.

Launch Synths — Done
Hardfork and Cosmos SDK update in Stagenet and Chaosnet.
Terra Launch and Kill Soft Cap in Chaosnet — by end of March.
THORName Service (TNS) Activation in Stagenet. Technically required for Haven and Monero integrations.
Multiple Bond Providers — target release 0.81.0 — Done
Development of https://dev.thorchain.org/ to support easy integration
TNS Activation in Chaosnet
100 Active Nodes Target — currently 97.

30 Days of stable operations is required once all points are achieved.