LPU THORChain Updates (Oct 2023)

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

1. Ethereum Chain Halt

On 1-Oct, Ethereum chain was auto-halted by solvency checker, likely due to Asgard double spend during gas volatility and large outbound queue. Ethereum chain was restarted around eight hours later.

2. Large Outbound Queue

In the first few days of October, THORChain experienced some of the highest volume trading days ever. This caused an abnormally large outbound queue which persisted for a few days. Devs are looking into improving the robustness of the protocol to handle larger volumes in the future.

3. Streaming Deposits/Withdrawals for Savers & Lending

On 2-Oct, v1.121 was adopted by nodes, paving the way for streaming deposits/withdrawals for Savers & Lending. Similar to Streaming Swaps, this will greatly reduce the slippage for users of Savers & Lenders. On 17-Oct, these were enabled.

https://x.com/THORChain/status/1714317598958002235

https://x.com/THORChain/status/1714354935154819362

4. THORSwap Halted

On 6-Oct, THORSwap halted their frontend for swaps, as they worked to implement measures to counter illicit funds. Note that THORSwap is one of many frontend interfaces to THORChain, and at no time was THORChain interrupted. THORChain itself remained accessible via other frontends, or via manual transaction memos.

On 12-Oct, THORSwap functionality was fully restored.

5. Outbound Delay

On 16-Oct, with adoption of v1.122, a long standing oversight of the Outbound Delay/Throttling was fixed. This is the intentional security measure to delay L1 outbounds, to provide some reaction time in case of exploits or bugs. With this fix, all swaps (regardless of size or block height) will be delayed depending on total outbound traffic at that moment. Maximum delay is 720 blocks (around 72 mins if blocktime is 6 seconds).

Reference: https://gitlab.com/thorchain/thornode/-/merge_requests/2912

6. Ethereum Solvency Halts

On 27-Oct, a few unobserved Ethereum outbound transactions caused the solvency checker to intermittently trigger halts for the Ethereum chain.

7. Protocol Owned Liquidy (POL) Enabled for All Savers Vaults

POL (reference: https://crypto-university.medium.com/under-the-hood-single-sided-yield-protocol-owned-liquidity-a5ef725a5d7a) was previously only enabled for the Bitcoin and Ethereum Savers Vaults. On 1-Nov, POL was enabled for the rest of the Savers Vaults.

https://thorchain.net/thorfi/pol

Feel free to hop into the TC University Discord to chat about this, or any other THORChain questions that you may have.

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