2021.04 — Community & Technical Recap

🌈IRISgardians,

We’ve together jumped into the hyperspace in April.
Many chains entered into the Interchain era this April, injecting potentials to the whole Cosmos ecosystem; IRISnet, as a part of the ecosystem, is expecting
more interactions with the ever-expanding IBCgang.

Meanwhile, the IRISnet ecosystem itself has fired up the engine: applications and communities were growing at a gallop. Therefore, a new part is added to the monthly recap to include fruits born each month.

Community, don’t forget that you are decision-makers for the usage of assets in the Community pool (More than 14M IRIS Now), time to discuss your ideas…


The IRIS Foundation is delighted to announce the New One-Year Ecosystem Development Program, to put more resources to boost community autonomy and engagement, and accelerate ecosystem expansion through more flexible methods. In this new program, the Foundation will give additional support to applications in the DeFi and NFT ecosystem, encourage the community to autonomously manage Eco-Development Funds, and also continue the validator, developer and community grants programs.

The IRIS Foundation has announced a series of support programs, such as the Token Burn Plans and Tech-Grants Program in the past several years, which attracted wide attention and further increased community engagement…


https://coinswap.market/home

Tips
• This is still a Beta version for the trial operation, it’s not recommended to play with large funds.
• We encourage you to first understand how it works before transacting on it and exercise caution at all times.
• It’s recommended to use Chrome explorer for a better user experience.
• Please note that adding liquidity is not without risk, as you may be exposed to impermanent loss.

Usage-related

1. Keep waiting for confirmation/Interface freeze/No confirmation info pop up in Rainbow

These might be related to some different reasons such as connection, network, etc., please try to disconnect and reconnect again, or change to use other explorers.

2. Cannot swap/stake etc. or Insufficient Balance Notification

Please kindly check if…


Calling all IRIS Hub Validators,

A critical security vulnerability was identified in Tendermint Core, which impacts Tendermint Lite Client. Due to this same reason as Cosmos Hub, irishub v1.1.1 was released with this vulnerability fixed, which includes no breaking changes. User funds are NOT at risk; however, the vulnerability can result in a chain halt.

For this vulnerability, irishub v1.1.1 was just released. Please kindly use this irishub v1.1.1 release to upgrade your nodes ASAP.
https://github.com/irisnet/irishub/releases/tag/v1.1.1

If you have any questions during this upgrade, please kindly join in IRISnet Discord (#validators) for help.

Thanks for your cooperation!

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About Bifrost Testnet

IRISnet’s Bifröst is a specialized testnet dedicated to Cosmos interchain vision, where IBC and functions like AMM can be tested out. In addition, Bifröst provided a comprehensive testing environment of functional tests and simulated upgrade for validators and service providers, make them technically ready for upgrading to IRIS Hub 1.0.

Incentivized Tasks Summary

Bifrost Testnet started from September 2, 2020, experienced Phase-0, Phase-1, Phase-2 three testing phases, and completed all incentivized tasks before the mainnet upgrade in February 2021.

Among so many participants engaging in this Bifrost Testnet, there are 228 participants who successfully completed the incentivized tasks and will win corresponding NFT…


On April 15, Coinswap Web App launches to start the trial operation, providing DEX features based on the AMM module on IRIS Hub and also activities like yield farming. At present, this version of Coinswap Web App offers features including Token Swap, Adding/Removing Liquidity, and Yield Farming.

Now, let’s have a look at how to play with Coinswap!
https://www.coinswap.market/

Tips
• This is still a Beta version for the trial operation, it’s not recommended to play with large funds.
• We encourage you to first understand how it works before transacting on it and exercise caution at all times.
• It’s recommended to…


At 10:00AM, April 15, 2021 (UTC+8), Coinswap Web App will launch and start trial operation, providing DEX features based on the AMM module on IRIS Hub and also activities like yield farming. At present, this version of Coinswap Web App offers features including Token Swap, Add/Remove Liquidity, and Yield Farming.

Cross-chain AMM: Coinswap’s Core Features

Back in 2019, IRISnet has implemented AMM module called Coinswap, using the same constant product AMM method as Uniswap, and having the ability to exchange and swap tokens. This time (the 1st phase) will launch the Coinswap Web Application for end-users based on this module.

Then what are the specific…


The on-chain governance proposal about increasing the Maximum Number of Validators on IRIS Hub has been submitted on April 8. Once this proposal passes, the number of active validators on the IRIS Hub mainnet will be increased from 100 to 108, which give more validators the opportunity to participate in contributing to the network security, further boosting the constant expansion of IRISnet ecosystem.

In the Cosmos ecosystem, IRIS Hub is virtually one of the few mainnets where the active validator always reaches the maximum number. Currently, there are 100 active validators on IRIS Hub mainnet. …


On April 1, IRISnet mainnet has enabled Inter-Blockchain Communication (IBC) transfers. Currently, IRIS Hub has already completed the 1st cross-mainnet token transfer with Cosmos Hub through IBC.

The governance proposal to enable IBC transfers on IRIS Hub was submitted on March 27. After 5 days of community voting, the result has come out on 2021–04–01 13:05:20 UTC, which is “Passed”. The participation of this voting is 59.17%, among which 99.99% are “Yes”.

As the proposal planned, cross-chain transferring and receiving assets using IBC on IRIS Hub has been available. Now IRIS Hub can support the interchain token transfers with Cosmos…


IRISnet has successfully upgraded to mainnet 1.1 on March 31 within around 40 minutes. This IRISnet mainnet 1.1 has been live and can give stronger support to Coinswap and other applications.

The IRISnet mainnet 1.1 upgrade proposal of “SoftwareUpgrade” was submitted on March 26, including specific information about the new software version, upgrade time, upgrade steps and other details. After 5 days of community voting, the result has come out on 2021–03–31 13:32:21 UTC, which is “Passed”. The participation of this voting is 60.30%, among which 99.99% are “Yes”.

IRISnet

IRISnet is the foundation for next-gen DApps. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability while providing modules to support DeFi.

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