LPU THORChain Updates (Early Oct 2022)
In this series, LPU aims to give regular condensed “state of THORChain” updates. Enjoy!
1. Avalanche AVAX Integration
AVAX Asgard Vaults and the base AVAX.AVAX pool went live after the node churn on 24-Sept-2022. However, the THORChain Avalanche router was not properly set up. This router is essential for AVAX outbounds and handling AVAX C-chain tokens (AVAX.USDC and AVAX.USDT). Therefore, AVAX chain was halted on THORChain until the next churn on 1-Oct-2022 when the router was finally enabled. Trading and LP went live soon after.
On 5-Oct-2022, the AVAX.USDC pool exceeded 10k RUNE depth and was made active. AVAX.USDT pool was also created and currently in staged phase; this will get activated during pool churn (~3 day cycle) when it reaches 10k RUNE depth. Other AVAX C-chain tokens can be waitlisted for pool creation by submitting PRs to THORChain’s Gitlab.
This is good learning for future EVM chain launches (AVAX is the first EVM launch since Ethereum).
https://medium.com/thorchain/thorchain-integration-of-avalanche-c-chain-complete-de8786ac7435
2. Edge Wallet Integration
THORChain and Edge Wallet announced the integration of THORChain swap functionality into Edge Wallet. This is the first of hopefully many integrations with other wallet providers and Defi platforms.
https://medium.com/thorchain/edge-wallet-integrates-thorchain-f85a69f7e8e6
3. Protocol Owned Liquidity (POL) and Single Side Yield (SSY)
POL functional testing has been progressing well on Stagenet. SSY will commence testing on Stagenet after update v1.98, likely in a week or so. Besides functionality, full economic game theory testings will also be conducted. The testing period on Stagenet before moving to Mainnet will depend on the testing results, expected minimum of a few weeks.
4. New THORFi Lending Design
THORChain published a new THORFi lending design, with significant tweaks to the initial design shared months ago. Do take note that it is still early days, and the final design will possibly be refined further. Timeline will be after the current ongoing developments (Single Side Yield, Protocol Owned Liquidity and Order Books), so expect months of development ahead.
https://gitlab.com/thorchain/thornode/-/issues/1412
5. TSS Issues and Outbound Delays
At the end of Sept-2022, THORChain experienced some outbound delays, which was eventually linked to some Threshold Signature Scheme (TSS) issues. TSS keysigns are needed for all outbounds via the Asgard Vaults (both swaps and LP withdrawals). A couple of updates (v1.97.0 and v1.97.1) were pushed to resolve this, however the issue persisted leading to a trading/LP halt to keep the outbound queue from growing further. Finally on 1-Oct-2022, v1.97.2 was pushed which cleared the issues and trading/LP was re-enabled shortly after.
Feel free to hop into the TC University Discord to chat about this, or any other THORChain questions that you may have.
Explore THORChain: Website, X, Telegram, Developer Discord.
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Decentralized, permissionless, non-custodial, trust-minimized, open-sourced, economic-secured, non-wrapped, native-to-native cross-chain swaps, savings and soon, lending!
