LPU THORChain Updates (End Aug 2022)

In this new series, LPU aims to give regular condensed “state of THORChain” updates. Below you will find what we hope to be the first of many. Enjoy!

1. Next Chain Vote & Privacy Discussions

Previously, the developers (including Nine Realms) were guiding the choice of new chain integrations, starting from the initial five “genesis” chains (BTC, ETH, BNB, BCH, LTC), then DOGE, Terra, Cosmos Hub GAIA and soon AVAX. Moving forward from here, nodes will take a more active role, and were recently asked to perform an indicative vote to signal the next preferred chains to be worked on.

On 19-Aug, the vote was started on Developer Discord with 20 chain choices, and scheduled to run for two weeks. At time of writing, Haven is leading with 31 votes, BNB Smart Chain with 20 votes, and DASH with 10 votes.

Developers have committed to prioritizing efforts to move the top voted chains to Stagenet. Thereafter, any move to Mainnet will need a formal 67% approval vote from the nodes.

In the light of the Tornado Cash sanctions, there was a vigorous debate of node dependency on cloud computing, risk, and timing of integrating privacy coins into THORChain. This included a Dev Discord Stage Privacy discussion (https://youtu.be/iYaD5MjJ3H0) and Chad B’s appearance on Monerotopia (https://youtu.be/jYZkzrxMVi4).

2. Avalanche AVAX Integration

AVAX has been on Stagenet for a few weeks now. Plan is for some minor patches via v1.96 and then will be launched to Mainnet in 1–2 weeks.

3. Terra LUNA Airdrop

Terraform Labs (TFL) has indicated LUNA airdrop for LUNC/UST THORChain LPs for pre/post-crash snapshot. Users will need to claim in September. Source: https://agora.terra.money/discussion/6647-final-proposal-terra-phoenix-airdrop

4. Architecture Design Record ADR004: Asgard Onchain Keyshare Backup

This is intended to encrypt and backup the Asgard keyshare (which are generated afresh every node churn, around 7 days) onchain. In case any nodes are accidentally shut down, this will ensure a way to spin-up new nodes and recover the Asgard funds. Nodes are encouraged to backup the keyshares every churn, but this ADR will ensure that the keyshares are available. Risk is that the keyshares could accidentally be disclosed unencrypted.

A Motion to Bypass this ADR has been proposed to fast track the adoption.

5. Protocol Owned Liquidity / Single Sided Yield / Order Book

This series of developments is progressing well. Protocol Owned Liquidity (POL) was implemented in v1.95 and now in Stagenet.

Single sided yield is expected to be implemented in v1.96.

Order book design is expected shortly after.

Thank you for reading!

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.

Explore Maya Protocol, the first friendly fork of THORChain: Website, X, Discord, Telegram.

Decentralized, permissionless, non-custodial, trust-minimized, open-sourced, economic-secured, non-wrapped, native-to-native cross-chain swaps, savings and soon, lending!