LPU THORChain Updates (End Jan 2023)

In this series, LPU aims to give regular condensed “state of THORChain” updates. Enjoy!

Development for THORFi Lending in progress

Do check out ChadB’s video walkthrough: https://youtu.be/8qCiyLy4YEw

Concise design thread: https://twitter.com/thorchain/status/1616376332945969152

2. Ledger integration teaser

https://twitter.com/ledger/status/1609856342847537152

3. Nodes voting for Impermanent Loss Protection (ILP) Deprecation

Node voting was started on 2-Jan, and passed on on 7-Jan.

Block 9,450,000 (sometime around 6-Feb-2023) would be the cut-off. Any LP deposits or top-ups BEFORE that block will enjoy grandfathering of the ILP forever. Partial withdrawals after that will NOT affect the ILP.

However, any new deposits AFTER that block will no longer enjoy any ILP. Also, any top-ups to existing LPs after that block will cancel any ILP that was previously due.

Reference: https://gitlab.com/thorchain/thornode/-/blob/develop/docs/architecture/adr-005-deprecate-ilp.md

4. MAYA teased airdrop for THORChain nodes, LP and RUNE holders

https://twitter.com/maya_protocol/status/1616200593277653006

https://twitter.com/aaluxxmyth/status/1617994442128121858

5. Arkeo teased airdrop for THORChain LP and Savers

https://twitter.com/shapeshift/status/1616117791739842561

https://twitter.com/fox__intern/status/1617648171836116992

6. Trading halt due to accounting bug

The v1.103 update introduced an accounting bug, and Admin Mimir was activated to halt trading on 22-Jan.

Fifteen hours later, version v1.104 was pushed with the bug patch, requiring 100% nodes to update.

Another eighteen hours later, all nodes fully updated, and finally trading was re-enabled another three hours later.

Post-mortem: https://docs.google.com/document/d/1-Vqa77-yGFVjXeXQ0hRZ2BNW1ji7Sj1zAAPh6rHpgac/edit

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!