Weekly Update on Community, Ecosystem & Dev #14: THORChain

This article covers:

1. Notable Gitlab Issues
2. Most Asked Questions
3. Feedbacks & Suggestions
4. Notable Work
5. Ecosystem Updates
6. Dev Updates

TLDR (10-points)

1. V0.73.0 was pushed on ChaosNet
2. THORChain faced a consensus failure. Fix in progress.
3. Node Churn took place and Fund cap was reached.
4. Monero integration is in works.
5. THORWallet token $TGT’s IDO details were released. Happening on 15th and 17th November.
6. XDEFI postponed their IDO to 15th November.
7. XDEFI integrated Anchor Protocol in their wallet for direct $UST deposit and earn.
8. THORSwap’s $THOR token airdrop is available for claim.
9. Rango Exchange shared details of their Public API
10. THORGuards had a successful public round and “NFT Reveal” event.

⚡Notable Gitlab Issues

• V0.73.0 was released on ChaosNet: https://gitlab.com/thorchain/devops/node-launcher/-/merge_requests/363

• THORChain was halted because of a consensus failure: https://gitlab.com/thorchain/thornode/-/merge_requests/1995

A fix has been worked on and network will be back up soon: https://twitter.com/THORChain/status/1459425865297657859?s=20

• A request to add whitelisted ERC20’s of 1inch: https://gitlab.com/thorchain/thornode/-/merge_requests/1988
• THORWallet’s TGT token is being added to whitelist: https://gitlab.com/thorchain/thornode/-/issues/1156
• Deposit values for THORSwap and THORStarter deployer accounts will be reset: https://gitlab.com/thorchain/thornode/-/issues/1159
• Draft on Valkyrie Vault Funding Logic: https://gitlab.com/thorchain/thornode/-/merge_requests/1989

⚡General Questions About:

Q. Why are ETH/ERC20s inbound/Transfer fees so high on THORChain?

A. This is being discussed here: https://discord.com/channels/838986635756044328/838986636665815072/909017162851696702

⚡Feedbacks & Suggestions

• Feedbacks were also focused on ETH fees. Currently it looks like that THORChain will be expensive for ERC20-ERC20 swaps, but this is being discussed.
• Feedback by AkuRypto on THORChain Treasury usage: https://twitter.com/AkuRypto/status/1459119689796358145?s=20

Similar feedback from various individuals in Dev discord too.

⚡Notable Work

• THORChain did a Node Churn and ~3 million RUNE was added to total bond: https://twitter.com/THORChain/status/1459058038308888577?s=20

• Protocol Owned Liquidity will help in providing fixed-yield for #THORSynths: https://twitter.com/THORChain/status/1458601549467295748
• Alpha Trades publishes an article explaining THORChain, with a great TLDR: https://twitter.com/the_alphatrades/status/1458187937628131335
• Monero integration on THORChain, in collaboration with CakeWallet: https://twitter.com/monero/status/1457755811460128769?s=20
• TheRuneRanger explains “Deterministic Price” and “Speculative Multiplier” of $RUNE: https://twitter.com/TheRuneRanger/status/1458480149809225729
• THORChain has already reached its Fund Cap (recently increased by 5 million $RUNE): https://twitter.com/kurttheturt/status/1458542142603894793?s=20
• Details on how a node is picked for churn out:

• Dexes are dominating the crypto world. Thanks to THORMehow for bringing the stats to notice: https://twitter.com/THORmehow/status/1459317572793470979

• Vote for $RUNE in the Tokemak reactor list: https://twitter.com/xSonyaD/status/1458342652957573122?s=20
• Don’t forget the original THORChain NFTs :) : https://twitter.com/tirinox/status/1458315431186505728
• Learn more about the original THORChain NFTs here: https://twitter.com/Fakk2/status/1457035226652282887?s=20

⚡Ecosystem Updates

A) THORSwap

• $THOR airdrop is now available to claim. 30 days to claim rewards: https://twitter.com/THORSwap/status/1458087705837985793?s=20
• 160800 $THOR tokens are distributed in the $THOR-$RUNE pool in THORChain everyday: https://twitter.com/THORSwap/status/1458121191751917575?s=20
• THORSwap shared $THOR token launch recap: https://twitter.com/THORSwap/status/1459119713221492745?s=20

B) XDEFI Wallet

• XDEFI Wallet has postponed their MISO IDO to November 15th: https://twitter.com/xdefi_wallet/status/1458110330781962240?s=20
• XDEFI Wallet integrated Anchor Protocol to support direct $UST deposits from within the wallet(and earn yield): https://twitter.com/xdefi_wallet/status/1459106639928303657?s=20
• Transcript of Emile (CEO of XDEFI) & Do Kwon (CEO of Terraform Labs) Discord AMA: https://twitter.com/xdefi_wallet/status/1457759069905825800?s=20

C) THORWallet

• THORWallet IDO will be happening in 2 phases.

Phase 1 on 15th November. Details: https://twitter.com/ThorWallet/status/1459567977867657216?s=20

Phase 2 on 17th November. Details: https://twitter.com/ThorWallet/status/1459233371700318224?s=20

Our new content writer is also working on an “IDO Breakdown”. To be shared soon.

D) Rango Exchange

• Rango launched their public API. Details: https://twitter.com/RangoExchange/status/1458422083596300291?s=20
• Rango updated their UI: https://twitter.com/RangoExchange/status/1458863830575067136?s=20

E) DefiSpot

• DefiChads gave away one Aurory and one DefiChad NFT: https://twitter.com/Defi_Chads/status/1457776633205583874

F) THORGuards

• THORGuards had a successful public round, where all NFTs were sold in 15 minutes: https://twitter.com/ThorGuards/status/1458853768531906560?s=20
• A fair distribution of THORGuards: https://twitter.com/ThorGuards/status/1458861741941665792?s=20
• Summary of THORGuards NFT mint: https://twitter.com/cMacr0/status/1459097795634163712?s=20
• Quick Overview from THORNoobs: https://twitter.com/THORNoobs/status/1459633119032582145

G) ShapeShift

• Shapeshift DAO community has improved a proposal which will deepen the $FOX:$RUNE pool in THORChain: https://twitter.com/ShapeShiftCOO/status/1459307447382904832

H) THORChadsDAO

• THORChadsDAO reveals 2 new NFT trophies- Heimdall and Loki: https://twitter.com/THORChadsDAO/status/1458786023329222656

I) SKALD

• Prototype for the THORChain.org desktop is public: https://twitter.com/SKALDcamp/status/1458917134092980227?s=20

It will be ready for data-analysis, led by attribute_me tool.

⚡Ecosystem Dev Updates

TRX1’s Weekly Dev Report (01/11–07/11)

THORChain Monitoring bot

■ /mimir command has been greatly enhanced:
— Human-readable values for constants measured in blocks (time intervals), Runes and Boolean constants
— The time of the last modification was added
— In the list included constants defined only by Mimir
— Added a link to Mimir’s cheatsheet

■ Mimir notifications use the same nice formatting
■ Fixed errors with LP yield calculations for some borderline cases

Misc:
— Learning Slack API
— Trying to invent a new algorithm for price notifications

Follow us on Twitter for regular updates on THORChain and its Ecosystem: https://twitter.com/THORNoobs

Website (WIP): https://www.thornoob.com/

Medium: THORNoob — Medium

Youtube: THORNoob — YouTube

Twitter: https://twitter.com/THORNoobs