THORChain Weekly Dev Update #96

THORChain released Weekly Dev Update #96 aboutNode Churning Speed, MCCN V0.56.1, BEP2 RUNE Bug, Community Updates, & more.

RAISETHECAPS

The caps were raised to 5.5m 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. At this stage the target is 30m RUNE bonded and 15m RUNE pooled for the system to have caps lifted (this was the maximum seen on SCCN).

Node Churning Speed

The biggest limitation for how quickly the network can scale is the total active bonded RUNE. The network deliberately churns its set every 3 days, but was limiting to only 1 new node per churn event. It would take 300 days to get to 100 nodes. A release was pushed to increase this to two nodes, so now it will take 150 days to get to 100 nodes. Assuming an average bond of around 500k, then 50m RUNE will get bonded in this time.

BEP2 RUNE Bug

A community member came forward after identifying they could swap to BEP2 RUNE that resides temporarily in the BNB Asgard Vault. This was fixed immediately. Around 2000 RUNE was swapped out into BEP2 version. Since this RUNE had already been upgraded, it temporarily inflated the supply, but did not threaten solvency (since the user had to swap in money to get out money). It just created an accounting issue the team had to fix.

Updates

THORNODE MCCN UPDATE 0.56.1

This release contains the following fixes
1. [REFACTOR] Handler refactor, removing constants and version from being passed around. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1741
2. [REFACTOR] Fix defer in a loop. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1742
3. [ADD] Allow mimir to override the number of nodes to be churned in. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1743
4. [BUG] Strict target asset swap references. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1745
5. [BUG] Add tx hash to switch event. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1748
6. [BUG] Double the gas limit to 20m. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1749
7. [BUG] block non native rune being sent out of the network. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1750
8. [BUG] check swap , make sure target asset is not BEP2 RUNE. PR: https://gitlab.com/thorchain/thornode/-/merge_requests/1751

Release version: https://gitlab.com/thorchain/thornode/-/tags/v0.56.1

Community Work

Dragons’ Dex — Weekly Dev Update
• Added non-interactive widgets for Swap, Pools, and Settings screens.
• Implemented basic state management and secure storage.

Block42 Weekly Dev Report

Brokkr
— Logo released
— Some minor UI/UX fixes
— Worked on balance overview UI
— Started integrating xdefi wallet
You can follow brokkr updates here: Twitter: @Brokkrfinance Telegram channel: https://t.me/brokkrfinance

THORWallet Update
App & Blockchain
— React Native Keychain with seedphrase integrated
— React Navigation nested with async storage as mini state machine for onboarding process
— All onboarding screens designed
— Performance Improvements for multichain clients (loading all clients in 4s) — iOS Pipeline discussions for launching testflight version asap
— Midgard SDK integration
(WIP) Business / Legal
— Further strategic discussions
— Landing page interactions
What’s next
— Show balances in a clean way in dashboard
— Fetch other token balances (ideally using USD as main currency)
— Start with Send / Receive functionalities

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-96-609c8541c237