Dfinance Retrospective Overview of Work Done
Dfinance Blockchain Overview
We are happy to share that progress has been made on the new version of the Dfinance node — dstation. Along with this progress, we have updated the Cosmos SDK to v0.42.6 and Tendermint to v03.34.11. The updates fix the critical HDD space usage issue as well as the node synchronization issue. They also allow the continued support of the Dfinance blockchain by implementing new features and functionality. Since the changes were significant, validator nodes had to migrate to the new version — which was carried out successfully.
What Else?
Tokens Transfer
While developing the new version, we also researched the Cosmos Gravity Bridge with the main goal of enabling the transfer of assets between the Ethereum and Dfinance chains. Although preparations for the Gravity Bridge have already been implemented, the Gravity Bridge itself is not yet ready for production. Therefore, for the time being we will continue to use our Staking Gateway until there can be a stable release of the Gravity Bridge. The Staking Gateway can be used to transfer your XFI tokens to and from the Dfinance chain.
Along with that, the new version also enables the transfer of XFI tokens between accounts that are within the Dfinance network. Please note that only addresses that are connected through the Staking Gateway will remain eligible for rewards. Transferring your XFI tokens from the Dfinance chain to ERC20-XFI (=disconnect) using the Staking Gateway without withdrawing rewards to another Dfinance chain wallet address will result in your rewards remaining within the Dfinance network wallet and your account being marked as disabled. In this case, you will not be eligible to receive any rewards, but only your original ERC20-XFI balance.
XFI Staking
There are also changes to the inflation model in the new version that allow you to stake XFI and earn rewards while the inflation and block rewards are being updated to float between 20% to 7% per year. The goal for staking is 67%, which would reduce inflation to 7% per year. Lower amounts will increase inflation to 20% per year. It’s helpful to note that no inflation parameters are final and are subject to changes via governance.
LP Staking
LP staking has been disabled within the Dfinance node and will not be available for the time being. That being said, LP staking will probably be re-enabled at a later stage, but using an out-of-blockchain approach.
IBC
In its current form, as well as for security reasons, IBC requires Cosmos validators to integrate with Dfinance to allow the transfer of assets between blockchains. IBC will be enabled when this integration has been completed.
That is all for the current updates.
In the next article, we will tell you all about HLL development progress, and the changes!
