Ti-Labs Meeting #3 Recap | KuChain x IRISnet x HBTC Chain

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IRISnet Blog

6 min readDec 24, 2020

Running on the back of a think-tank that is fueled by the intelligence of the masterminds behind KuChain, IRISnet and HBTC Chain, Ti-Labs will shoulder the responsibility of enlightening the whole Cosmos ecosystem.

On December 18, 2020, all members of Ti-Labs, including KuChain, IRISnet, and HBTC Chain, held the third meeting with Cosmos developers. Discussed the current status and development progress of HBTC Chain, KuChain dynamic update and road map, Ti-Labs research report, and Cosmos Cash. HBTC Chain officially joined Ti-Labs on December 9, 2020. It was the first meeting since HBTC Chain joined.

Here is the full meeting minutes for you.

Participants

KuChain

Lou YU — KuChain Operation Lead

IRISnet

Jeffrey HU — IRISnet Director of Research

HBTC Chain

Elsa — HBTC & Bluehelix Global Business VP

Tina — HBTC Chain Operation Lead

Topics

Part 1.

HBTC Chain official introduction as Ti-Member

Part 2.

KuChain updates and future road map

Part 3.

Ti-Labs research report update and discussion

Part 4.

Cosmos Cash presentation

Details

Part 1. HBTC Chain official introduction as Ti-Member

1. Introduction

Built on Cosmos and restructured all the SDK and Tendermint;
New to the ecosystem, already having some business in product and lots of features accomplished;
DEX SaaS : DEX solution as a service for CEX customer

-share liquidity on chain among exchanges and brokers;

-some marketing tools similar to centralized exchanges, for e.g user management, invitation rebate,coin listing, etc;

-including decentralized key generation + an opendex protocol + first swap already audited by Peckshield.

HBTC Chain could help in terms of services to complete what cosmos ecosystem has already been doing.

-HBTC Chain will supports EVM, and will be committed to efficiently migrate projects and conduct more application development on HBTC Chain;

-EVM to be integrated after HBTC Chain mainnet launch (the end of December);

-Ethermint integration assistant: currently in sync with the Stargate network, HBTC Chain shall help with it.

HBTC Chain token issuance for OpenDEX : to be disclosed after mainnet launch.
Gas : HBTC Token (existing platform token on HBTC exchange already listed on Huobi).
HBTC Chain already possesses app and web wallet.

2. Current status

Testnet : live, with OpenDEX protocol
Mainnet launch : end December 2020, also will launch the DEX SaaS

3. Documentations

Documents: https://doc.hbtcchain.io/en/
Downloads: https://explorer.hbtcchain.io/download
Github: https://github.com/hbtc-chain/

Part2. KuChain and the Labs’ research updates

1. KuChain updates

Kratos network issue: inconformity causing by the rebuilt Account module, triggering the network Slash punishment for a amount of more than 2,000,000 KTSt to be destroyed;
Kratos now back online, and a KTSt recovery on-chain proposal has been passed;
After the KTSt recovery from KTSt Development Reserve, Kratos beta net work second phase will begin;

2. KuChain ecosystem partners on-boarding

Sponsored the Post-Covid Hackthon back in July 2020, with some candidates and winners from this hackthon connecting with KuChain and looking to deploy decentralized financial applications on Kratos and/or KuChain in the months to come.

3. KuChain future road map

As now KuChain does not support EVM or smark contract, to facilitate ecosystem developer integration, and also to leverage KuCoin’s resources in terms of community projects partners, KuChain is now exploring orientation on Layer 2 solution and Smart Chain solutions.
Expect to start KCS migration (from being an ERC-20 standard platform token of KuCoin exchange to KuChain’s system token) by June or July 2021, and KuChain Foundation is looking forward to see KuChain’s ecosystem to be established before that.

Part 3. Ti-Labs research report update and discussion

1. Aim of the report

To advise centralized exchange players, to start their own decentralized exchange’s conception based on the content of this research report. The main study is focused on exchange building on cosmos, especially the potential chemistry between DEXs and Cosmos IBC protocol.

2. Interesting dimension can be covered

Cross-chain wallet interoperability;
Possible path for new chain to do trust-less token issuance: an AMM module on the application chain. Passing through IBC, ATOM or any other assets can reach a DEX to perform secondary market token selling, with all the community pool receiving all the profits of the sell. TBD in terms of compliance：

-Imagine a network to have only a few validators;

-with the community pool to have the majority of the tokens that are not delegated;

-And the Community pool would collectively transfer tokens to a DEX where the DEX could perform an initial token offering;

-Scheme 1 : require the chain to have a collateral to start, like an AMM;

-Scheme 2 : DEX would make a business of it, to accept tokens issued off of the DEX, but can still perform their initial sell. Many DEXs are providing issuance themselves;

-Internet of Blockchains scenario : chain launch with token issued on top of this chain, then have those tokens put into a liquidity pool via IBC for trading, all in the condition where the chain itself is receiving those profits from the token sell. The whole governance model taking the community pool as an account, it’s especially possible through inter-chain accounts.

Possibility of a cross-chain exchange protocol, IBC application specification to fungible token standard. How a trustless exchange could work. Drawing board phase still but can be explored;
Research report mentioned a cross-chain liquidity sourcing scheme like an aggregator like 1Inch : interesting to be explored, to be dived deeper into its use cases.

3. Other

Ti-Labs members attending 2020 Chainsights — Blockchain and Cryptography Industry Summit (Beijing), on 19th December 2020.

Part 4. Cosmos Cash presentation

Tendermint Blog — Cosmos Cash: https://twitter.com/tendermint_team/status/1339330541028565000?s=20

About Ti-Labs

“Ti-Labs” is a laboratory jointly initiated by KuChain and IRISnet, which will fully mobilize the think tank resources behind different projects to provide assistance and support in the aspects of conceptual inspiration, technical support, and resource promotion for the future development of the entire Cosmos ecosystem.

“Ti-Labs”’s name is inspired by “titanium”, the indispensable material in building rocket ships among other spacecraft. The Labs will not just hold regular meetings for information sharing and integration between the tech teams in regard to the development progress across various verticals in the Cosmos ecosystem, but will also bring forward-looking insights that shall shed light on future development directions.

About KuChain

Built on Cosmos-SDK, KuChain aims to better serve an array of DeFi applications by innovative functionalities and modules including multi-asset, account ID system and auth tree. Contributing its born-with resources from KuCoin Exchange to the Cosmos ecosystem, together with the unique and native Liquidity Sharing Protocol (LSP), KuChain is able to respond to trading queries with high concurrency and frequency. Via its creative on-chain developing incentives, KuChain encourages developers to implement hard-core tech innovation on a long-term horizon. Elsewhere, via initiating Ti-Labs and by the means of IBC and Peggy protocols, KuChain targets to strengthen the Cosmos dev-community and ultimately to complete the Cosmos DeFi application layer.

About IRISnet

IRISnet (a.k.a IRIS Hub) is an Interchain Service Hub designed to support the next generation of distributed applications. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability through a unified service model, which supports not only token interchain transfer but also trustworthy data consumption and computation invocation across heterogeneous systems. IRIS Hub is the first self evolutionary blockchain launched in the Cosmos ecosystem.

IRISnet dev teams include Bianjie, a national award-winning blockchain technology team based in Shanghai, and Tendermint, the world-famous team that created the Tendermint consensus engine and the Cosmos project.

About HBTC Chain

HBTC Chain, positioned as a “heterogeneous cross-chain DeFi public chain”, is an important part of the decentralized financial layout of Bluehelix Group at the beginning of its establishment in 2018, and is also one of the three core businesses of Bluehelix Group (HBTC Exchange, HBTC Chain, Bluehelix ). The main functions and application scenarios include cross-chain asset bridge, OpenDex protocol, and OTC solutions for on-chain assets. The testnet of HBTC Chain has been successfully launched on October 20, 2020 and is running smoothly, and the mainnet will be launched soon.