TCU THORChain Updates (Jul 2024)

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

1. Minimum Slippage for L1 Swaps

On 3-Jul, node consensus was reached via mimir voting, to implement a minimum slippage of 5 bps (0.05%) for L1 swaps. Previously, there was no minimum slippage, so small swaps could have slippage below 5 bps. This change took effect with v1.134, which was adopted on 25-Jul.

Synth and Trade Accounts swaps are not affected, and do not have a minimum slippage setting.

2. ADR 14 & 15

ADR 14 (Scale Savers Yield) and ADR 15 (Refund BEP2 Synth Position after Ragnarok) were approved via “Motion to Bypass” without needing node voting.

On 10-Jul, the Mimir setting for ADR 14 “MAXSYNTHSFORSAVERSYIELD” was set to 5000 accordingly.

ADR 15 will be implemented in a future update.

3. ADR 16 & 17

Node vote started for ADR 16 (Affiliate Revenue Share) & ADR 17 (Burn System Income).

On 17-Jul, nodes reached consensus supporting these ADRs. Actual implementation will happen soon.

4. ADR 18 (Core Protocol Sustainability)

ADR 18 for Core Protocol Sustainability was proposed: https://gitlab.com/thorchain/thornode/-/blob/657da56124e4cdbd5f42f31d4e376c381f853a5e/docs/architecture/adr-018-core-protocol-sustainability.md

5. RUNEPool Launch

With the adoption of v1.134 on 25-Jul, RUNEPool was enabled. By end of month, THORSwap & THORWallet DEX were the earliest frontend user interfaces to support this feature.

Resources:

- https://medium.com/thorchain/runepool-on-thorchain-bf8fef5587d5

- https://docs.thorchain.org/thorchain-finance/runepool

- https://dev.thorchain.org/concepts/rune-pool.html

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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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