Dev Update #140-#143
THORChain Weekly Dev Update for Weeks 141–143, 25 Apr — 12 May; LUNA and UST Pool Update, THORNames, Milestone, Network and Community Updates
Summary
The market conditions do not change THORChains plans or directions. It will keep building and delivering, as shown with a major update being delivered today. Impermanent Loss Protection extends to all pools, and LUNA and UST are no different. THORNames are about to go live, layers of THORChain security article released along with a reminder of the Kill Switch, a network update and community updates.
Note: The THORChain community will be coming together during Consensus next month in Austin for the first THORChain-ecosystem-conference. See details at https://www.crosschain.so/.
TERRA LUNA, UST Liquidty Provider Update
THORChain is neutral to the assets on it, as long as they are not malicious to the Protocol. There is no reason for nodes and community to stop supporting the chain and afford it it’s privileges, such as Impermanent Loss Protection.
Due to recent events, Luna and UST LPs have incurred substantial Impermanent Loss. THORChain provides Impermanent Loss Protection (ILP) to liquidity providers to help mitigate risks to providing liquidity on THORChain. Rune from the Protocol Reserve funds this coverage.
Luna and UST pools are mispriced due to Terra halt. Using market prices (Coingecko) the following liability can be calculated:
Current ILP Liability for THORChain
- UST: 108,556 RUNE
- LUNA: 203,522 RUNE
- TOTAL: 312,078 RUNE
Current Reserve Balance
- 111,312,196 RUNE
- (Standby Reserve: Additional 60,000,000 RUNE)
- Terra ILP Liability 0.28% of Current Reserve.
Even in extreme circumstances, THORChain’s design can mitigate impacts to Liquidity Providers. Terra is still halted. Expect more updates as the situation develops.
THORName Update
THORNames will be deployed to Chaosnet in the latest release (v1.88.1). Pre-registered THORNames will migrate and be valid for 12 months post THORNames being live in Chaosnet. More information can be found at https://docs.thorchain.org/network/thorchain-name-service
THORChain and Security
Security and stability are the primary focus. A new article detailed THORChain’s security layers has been released. Read about the layers of security in THORChain at https://medium.com/thorchain/thorchains-layers-of-security-e308d537acf1
Kill Switch Reminder
THORChain will be removing support for non-native RUNE (BNB.RUNE and ETH.RUNE), a start date will be set after Mainnet. #TheSwitchening
See more information on the Kill Switch and BEP2/ERC20 RUNE upgrade in the Upgrading to Native RUNE Article.
It is recommended you upgrade asap with the below guides:
- How to switch to Native RUNE using Ledger (2 ways) — THORNoob
- How to Switch Binance $RUNE to Native $RUNE (2 Ways: Arbitrage, Upgrade) — THORSwap
- How to: Upgrade to Native RUNE (THOR.RUNE) Using ThorSwap DEX — LP University.
Native RUNE will be supported by major centralised exchanges allowing another path to upgrade non-native RUNE. Kraken has listed native RUNE on 6-May.
Milestone Update
The below milestones are required before Mainnet.
- Development of https://dev.thorchain.org/ (and xchainjs) — In Progress
- TNS Activation in Chaosnet — v1.88.1 was released today.
A stabilisation period is required before Mainnet.
Want more information?
See more THORChain and Community News at https://www.runebase.org/ and https://medium.com/@THORNOOB
Community Updates
THORNoob Bi-Weekly Community Recaps
- Notable Gitlab Issues
- Most Asked Questions
- Feedbacks & Suggestions
- Notable Work
- Ecosystem Updates
- Weekly Dev Discord Updates
Bi-Weekly Community Recap #18 (Apr 16–May 2)
RUNE Base Weekly THORChain Podcasts
TRX1’s Weekly Dev Update (02.05.2022–08.05.2022)
THORChain Monitoring bot
• Twitter:
— Created TwitterBot class
— Began building a new formatter class for short alerts
— Got my wrongly blocked account unblocked
• NodeOp tools:
— Better Node watch list editing in Telegram
• Fixed bug with incorrect calculation of pool liquidity units, now redeemable amounts are fine
• Fixed sending pictures to Slack
• Added Luna & UST logotypes
• New Mimir constants transcript
• Big code refactoring to make the bot more flexible and the code more clean
aiothornode Python library
• Parsing both Synth units and LP units correctly
Next week plans:
• Continue Twitter bot development
• Probably to release something with an incomplete set of features
THORChain.net
Node Voting status added.
ASGARDEX v0.14.1 (2022–05–07)
## Update
- [PoolDetail] Improve pool details view (loading behavior, error handling, caching data) #2240, #2241
- [Swap] Change default slippage tolerance to 3% #2237
## Fix
- [Ledger] White screen with Ledger Terra wallet connected #2227
- [Wallet] Lock wallet failed at Deposit or Withdraw views #2233
- [e2e] Testcafe is failing #750
- [Swap] Consider fees in swap limit #2243
- [Swap] Recipient keystore address lost #2244
- [Swap] Recipient Ledger address lost #2252
## Internal
- Update `npm` dependencies (04–25–2022) — incl. Electron 18.x, React 18.x, latest xchain-\* etc. #2228
ttps://github.com/thorchain/asgardex-electron/releases/tag/v0.14.1
Bridge Status
No new integrations will be to added to Chaosnet before Mainnet, but may be released to Stagenet beforehand.
The following are on the radar:
- ATOM (Gia)— Deployed to Stagenet
- Haven — PR Received — https://gitlab.com/thorchain/thornode/-/merge_requests/2153
- Avalanche — Under development
- Decred — Under Review — https://gitlab.com/thorchain/thornode/-/merge_requests/2012 and https://github.com/asgardex/thorchain_explorer/pull/73
- Dash — Under Review — https://gitlab.com/thorchain/thornode/-/merge_requests/1931 and https://gitlab.com/thorchain/devops/node-launcher/-/merge_requests/361
- ZCash — Under Development.
On the Horizon
- Fantom
- Binance Smart Chain
- Monero — In Development, will follow after Haven.
- https://gitlab.com/thorchain/tss/go-tss/-/tree/moneroTss, https://gitlab.com/thorchain/tss/monero-sign, https://gitlab.com/thorchain/tss/monero-wallet-rpc
Want to see bridges built quicker, get involved on our Discord Server!
Network Updates
THORNODE Update 1.88.1
These are the changes include in the release.
1) [BUGFIX]: Correct casting to AccAddress to fix HasProviderBonded call PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2261
2) Increase Terra Broadcast Timeout PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2257
3) [BUG] Fix an issue that when reschedule it only update MaxGas to a higher value PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2254
4) [ADD] Whitelist Aggregator contract for sushiswap PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2252
5) [BUG] Continue to forward solvency msg to thorchain when solvency halt chain PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2250
6) update trunk version PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2249
7) [bugfix] downcase thorname in event PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2247
8) [testing] improve test coverage visibility PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2245
9) Refactor managers PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2243
10) [ADD] New Chain Integration Guidelines and Process Doc PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2240
11) [BUG] Fix a bug that trying to update MaxGas field on internal generated transaction PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2238
12) [testing] add msg thorname unit tests PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2236
13) [ADD] Upgrade THORChain ETH Router to v4 PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2230
14) [BUG] Avoid logging error when mimir is not set PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2229
15) Resolve “[ADD] Allow Node Operator to set custom fee for pooled validators” PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2227
6) [ADD] Emit Scheduled Outbound Events PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2222
17) Resolves: [BUG] Outbound hash has not been correctly mapped to Observed TxIn PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2221
18) [BUG] pool subsidies from slashed bond should be sent from Bond to Asgard PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2216
19) [BUG] use CacheContext in handler_withdraw to prevent accidental commits on error PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2214
20) [BUG] Rune fees from Bond outbounds should be taken from Bond, not Asgard PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2159
21) [BUG] off-by-one error in pool reimbursement for stolen assets PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2157
22) Add THORName pre-registration addresses PR: https://gitlab.com/thorchain/thornode/-/merge_requests/2078
23) Don’t process queued swaps when trading is halted https://gitlab.com/thorchain/thornode/-/merge_requests/2268
24) [ADD] use cacheCtx for all internal handlers https://gitlab.com/thorchain/thornode/-/merge_requests/2269
25) [feature] allow mimir to pause bond/unbond https://gitlab.com/thorchain/thornode/-/merge_requests/2270
THORChain Community
To keep up to date with the project, please monitor community channels, particularly Telegram, Discord and Twitter:
- Twitter: https://twitter.com/thorchain_org
- Telegram Community: https://t.me/thorchain_org
- Telegram Announcements: https://t.me/thorchain
- Discord: https://discord.gg/7RRmc35UEG
- Reddit: https://reddit.com/r/thorchain
- Github: https://github.com/thorchain
- Medium: https://medium.com/thorchain
