Weekly Dev Update #96

Summary

RAISETHECAPS

The caps were raised to 5.5m RUNE and filled. The continual Cap Raises give the protocol, middleware and interfaces more and more time to stabilise. Only when the system is stable throughout can the Caps be lifted. At this stage the target is 30m RUNE bonded and 15m RUNE pooled for the system to have caps lifted (this was the maximum seen on SCCN).

Node Churning Speed

The biggest limitation for how quickly the network can scale is the total active bonded RUNE. The network deliberately churns its set every 3 days, but was limiting to only 1 new node per churn event. It would take 300 days to get to 100 nodes. A release was pushed to increase this to two nodes, so now it will take 150 days to get to 100 nodes. Assuming an average bond of around 500k, then 50m RUNE will get bonded in this time.

BEP2 RUNE Bug

A community member came forward after identifying they could swap to BEP2 RUNE that resides temporarily in the BNB Asgard Vault. This was fixed immediately. Around 2000 RUNE was swapped out into BEP2 version. Since this RUNE had already been upgraded, it temporarily inflated the supply, but did not threaten solvency (since the user had to swap in money to get out money). It just created an accounting issue the team had to fix.

Reminder: BNB.RUNE is “burnt” when upgrading by forwarding all deposited RUNE to the issuer address, where it is burnt once a month. ETH.RUNE is burnt programmatically when it is deposited. BNB does not have an account burn feature, assets can only be burnt from the issuer address. After Planned Obsolescence, the upgraded RUNE will simply be abandoned on the churned vault. It will be irrecoverable as long as the system is decentralised. The issuer address can be inspected here: https://explorer.binance.org/address/bnb1e4q8whcufp6d72w8nwmpuhxd96r4n0fstegyuy

Updates

THORNODE MCCN UPDATE 0.56.1

This release contains the following fixes
1. [REFACTOR] Handler refactor, removing constants and version from being passed around. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1741
2. [REFACTOR] Fix defer in a loop. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1742
3. [ADD] Allow mimir to override the number of nodes to be churned in. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1743
4. [BUG] Strict target asset swap references. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1745
5. [BUG] Add tx hash to switch event. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1748
6. [BUG] Double the gas limit to 20m. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1749
7. [BUG] block non native rune being sent out of the network. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1750
8. [BUG] check swap , make sure target asset is not BEP2 RUNE. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1751

Release version: https://gitlab.com/thorchain/thornode/-/tags/v0.56.1

Community Work

Dragons’ Dex — Weekly Dev Update
• Added non-interactive widgets for Swap, Pools, and Settings screens.
• Implemented basic state management and secure storage.

Block42 Weekly Dev Report

Brokkr
 — Logo released
 — Some minor UI/UX fixes
 — Worked on balance overview UI
— Started integrating xdefi wallet
You can follow brokkr updates here: Twitter: @Brokkrfinance Telegram channel: https://t.me/brokkrfinance

THORWallet Update
App & Blockchain
— React Native Keychain with seedphrase integrated
— React Navigation nested with async storage as mini state machine for onboarding process
 — All onboarding screens designed
— Performance Improvements for multichain clients (loading all clients in 4s) — iOS Pipeline discussions for launching testflight version asap
— Midgard SDK integration
(WIP) Business / Legal
— Further strategic discussions
— Landing page interactions
What’s next
— Show balances in a clean way in dashboard
 — Fetch other token balances (ideally using USD as main currency)
— Start with Send / Receive functionalities

Weekly Update Asgardex Web 6/14 - 6/20
- Added core chain explorers in pending transactions. For example, a user can check blockstream + thorchain.net to see if a BTC transaction has completed
- Fixed bug related to approving ERC20 token interactions with thorchain router smart contract
- MetaMask wallet support

Weekly Update Xchainpy 6/14–6/20
— fix xchainpy-crypto phrase validation (is_valid function)
— fix get_balance
— get_asset
— get_denom functions in xchainpy-thorchain
— fix sequence for fresh wallet
— fix and done deposit function in xchainpy-thorchain
— test passed for deposit function in xchainpy-thorchain

https://github.com/xchainjs/xchainpy-lib

DEVOps Weekly Update (6/14–6/20)
cluster-launcher
— Use EBS CSI driver and high performance SSD volumes on AWS
— Fix VolumeSnapshotClass and CRD application on AWS
 — Add provider IBM Cloud [WIP]
THORmon Frontend
 — Chain monitor only on active nodes
 — Add ESC key function
 — Fix search focus and clear search input key function
Backend
— Refactoring, stability and performance
 — Update dependencies

TRX1’s Weekly Dev Report (14/06–20/06)
THORChain Monitoring bot
— LP cap info added to Add/Withdraw notification
— A new message type: LP cap is full
— A new message type: Trading is halted/resumed
 — Filtering some notifications regarding node set changes
aiothornode
— Chain status and Inbound Address endpoint
— Short aliases for environment names
Miscellaneous
— Testing & optimization of deposit functions (Python)

SKIPexchange Weekly Dev Report (14/06–20/06):
— google analytics has been pushed and revised for all of the views (swap, deposit, withdraw, send, upgrade, wallet, settings and etc.) using these data for further TVL driving program
— working on asym deposit & withdraw views

THORBelt Weekly Dev Report (June 14 to June 20)
— Added a new “Trade” panel on testnet for trading thorchain synths!!
 — Fix an issue with lp positions not showing the right value when join assymetrically with rune
— Fix an issue with the manual transaction sending rune for deposit types that don’t need it and clearing some fields after a transaction for better UX

RuneYield.info Weekly Update (14/06–20/06)
 — Improved handling of pending transactions. (causing the lagging in LP data display)
 — Prepared LP Cover report for a single chain Chaosnet.

GrassRoots Crypto Update
Focusing on THORFI Synths with Part 1 and 2 completed. Graphics / Spreadsheet available at:
— Part 1 https://grassrootscrypto.io/defi/thorchain/thorfi/THORFI-Synths-Part-1/
— Part 2 https://grassrootscrypto.io/defi/thorchain/thorfi/THORFI-Synths-Part-2/
 — Part 3 in development, recording will happen soon.
 — Possible Part 4 as there is a lot to cover.

Bridges

How to bridge to THORChain? This is a serious undertaking, a dev should be sponsored for 6–12 months:

1. Read https://gitlab.com/thorchain/thornode/-/blob/develop/docs/newchain.md and https://docs.thorchain.org/chain-clients/overview
2. Implement the Chain Client https://gitlab.com/thorchain/thornode/-/tree/develop/bifrost/pkg/chainclients
3. Add to Node Launcher https://gitlab.com/thorchain/devops/node-launcher
4. Add to XChainJs https://github.com/xchainjs/xchainjs-lib
5. Launch on Mocknet — demo to community
6. Launch on Testnet, stabilise. Must be run successfully for a few weeks with no issues.
7. Launch on Mainnet, stabilise
8. Maintain the chain client, be on deck for hard forks, client updates and more.

Complete

• Bitcoin: Deployed to chaosnet
• Ethereum: Deployed to chaosnet
• BitcoinCash: Deployed to chaosnet
• Litecoin: Deployed to chaosnet

UTXO Chains

• Dogecoin: Complete, will be activated after MCCN
• ZCash: Scoped, rain-checked
• Decred — community dev source

Cryptonote

• Haven: MSS complete ongoing by Haven Team
• Monero: Pending Haven implementation

Custom

• Cardano — Scoping
• Polkadot: Ongoing with team
• Avalanche: Scoped, WIP with team to investigate options
• Zilliqa: Scoped, rain-checked

EVM Chains

• Binance Smart Chain: Likely after MCCN
• Ethereum Classic: Rain-checked
• Rootstock: Rain-checked
• Arbitrum: Rain-checked

IBC

A development partner has been found and will begin building IBC bridges.

Pending IBC integration — Cosmos, Terra, Kava, Secret Network, Injective Protocol, Sifchain, Akash Network .

Next Milestones

• RAISETHECAPS
• ACTIVATETHESYNTHS
• THORChain Name Service
• DOGECoin
• BSC

Community

To keep up to date, please monitor community channels, particularly Telegram and Twitter:

• Twitter: https://twitter.com/thorchain_org
• Telegram Community: https://t.me/thorchain_org
• Telegram Announcements: https://t.me/thorchain
• Reddit: https://reddit.com/r/thorchain
• Gitlab (primary): https://gitlab.com/thorchain
• Github (secondary): https://github.com/thorchain
• Medium: https://medium.com/thorchain