THORChain
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THORChain

Weekly Dev Update #72

THORChain Weekly Dev Update for Week 72, 01–07 Dec; Latest Multichain, Bridge Work, Pool Curation, MidgardV2, THORChain ViewBlock Dashboard, GrassRootsCrypto Youtube Series

Summary

The team worked to release Multichain Testnet with Native Rune (the latest Release Candidate). Work continues to prepare for mainnet, including some fixes and features.

Bridges

Now that Bitcoin is complete, the team are working on:

  • Ethereum ( ETH.ETH first, then ERC-20s — the code for this is 90% complete, pending testing edge-case validation)
  • BitcoinCash (mostly a fork of Bitcoin)
  • Litecoin (mostly a fork of Bitcoin)

The team are also managing third-party bridges with the following projects:

  • Gaia (Atom) — mostly complete
  • Cryptonote (XMR, XHV) with the Haven team — begun implementation
  • Zilliqa — in spec
  • Polkadot/Kusama — begun implementation
  • Solona — in spec

The team have also had expressions of interest from the following projects, who will raincheck until the specification is more mature.

  • Rootstock — an EVM compatible Bitcoin sidechain
  • Avalanche — an EVM compatible layer-1 chain

THORNode

Pool Curation

THORChain will now curate pools — according to depth, and charge standby pools a churn fee. The reasons for this are apparent from observing Chaosnet for several months. The Top 5 Pools are significantly valuable (more than $1m in liquidity) and drive revenue to the system, the Top 20 Pools create non-zero volume and revenue to the system, and all have more than $20k in liquidity. Above that, there is not much significance, and thus those pools should be bumped out of the active list.
Assets in the standby list have swaps disabled, so cannot collect revenue, but they are still secured by the system. Thus, to prevent the standby list becoming a parking lot of assets, standby pools will be charged 100 RUNE (versioned in constants) every churn (2 days), until ultimately they run out of money and are purged off the network. This means pools should only be listed on THORChain if they stand a strong chance of qualifying.

THORChain is not for the long-tail, it’s a protocol for the short tail of economically significant assets and chains. The reasons for this will become more and more apparent as time goes on, and especially when THORChain releases advanced financial features such as synths, lending, derivatives and more, collateral should be deeply liquid and of high-quality.

GG20 Upgrade

A long time coming — THORChain will now use the latest version of TSS. GG20 promises better blame and some other features for THORChain that make it more useful.

Midgard

Fixes and improvements to get V2 up to standard for Multichain

Devops

Continual improvements.

Clients

BEPSwap Client

Numerous UI/UX tweaks based on community feedback

ASGARDEX Client

Work continues to prepare the client for Multichain Chaosnet.

Community Work

The following tools receive regular updates:

Telegram Bot

@thornode_testnet_bot

@thornode_chaosnet_bot

Twitter Bot

https://twitter.com/thor_bot

Delphi Defi Dashboard

https://defi.delphidigital.io/thorchain/chaosnet/network

THORChain Network Explorer

Continual Improvements

https://thorchain.net/

THORChain Official Block Explorer

https://viewblock.io/thorchain

THORChain Dashboard (ViewBlock)

Viewblock launched their THORChain dashboard

https://dash.viewblock.io/d/thorchain

RUNEData

Completely re-written, the new tool should be bookmarked:

http://www.runedata.info/

RUNEBalance

View current arbitrage opportunities in the pools

https://www.runebalance.com/#/pools

RUNEStake

Always receiving improvements, this week a new landing page:

https://runestake.info/

Trading Leaderboard

View the current leaderboard for traders on THORChain

https://leaderboard.thornode.org/

GrassRootsCrypto Youtube

GrassRootsCrypto consistently puts out great educational videos on THORChain, users should subscribe and bookmark the channel.

https://www.youtube.com/channel/UCuC_PiCEsNIT6HH88r7vCsw/videos

Next Milestones

Multi-chain Testnet 2 with Native Rune was deployed, currently wallets are undergoing intergration testing before public nodes can bond in, and users can start swapping.

The next milestone will be public release (expected within the week), although the net is live and advanced users can interact with it, if they know what they are doing.

http://18.198.92.45:1317/thorchain/doc/

Community

To keep up to date, please monitor community channels, particularly Telegram and Twitter:

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