THORChain Weekly Dev Update #94

THORChain released Weekly Dev Update #94 about MCCN V0.53.1, MCCN V0.53.2, MCCN V0.54.0, Midgard 2.1.1, DragonsDex debut, Megingjoro debut, DecentralFi updates, & more.

RAISETHECAPS

The caps were raised to 3m RUNE and filled. The continual Cap Raises give the protocol, middleware and interfaces more and more time to stabilise. Only when the system is stable throughout can the Caps be lifted. This is still expected to be 6–8 weeks away.

UTXO consolidation

Fixes include UTXO handling behaviour when accrueing many inbounds. Since TSS has to sign every input, it’s not wise to let them grow uncontained since TSS may have to sign far too many inputs and time out. Instead the Bifrost will now track input count, and automatically consolidate inputs every 15. This keeps the UTXO set small at all times. The consolidation tx is around 2kb, but since it consumes BECH32 SEGWIT, the virtual size is only 1kb. At 10 sat/byte this is around 10k sats consumed every 15 inputs ($2–3). These sats are taken from the BTC pool, but subsidised back with RUNE (2x the value).

Ethereum Composability

In addition, the Ethereum Bifröst will now witness the log addresses and not the to_address of the EoA calling the transaction. This means the Router can now be wrapped by smart contracts. This is the first step for composability, there are still some missing pieces to enable full composability.

Pending Tx

Lastly there were two big holdups on MCCN last week. The root cause was both users and ygg vaults were spending low-fee mass-spend unconfirmed transactions (dust attack transactions). These transactions are huge and drag down the fee spent considerably. This causes the transaction to have a much lower gas rate than needed and get delayed. The team twice had to pay pushtx.BTC.com to bump the pending transactions before making the necessary changes to both YGG and XChainJs to not let it happen again.

What is THORChain?

THORChain is the first decentralized protocol to actively address liquidity by incentivizing users to stake liquidity rather than store assets in cold-wallets or completely off-line.

📰 INFO:

https://medium.com/thorchain/weekly-dev-update-94-2209d662e955