TCU THORChain Updates (Oct 2024)

In this series, TCU aims to give regular condensed “state of THORChain” updates. Enjoy!

1. 3Q-2024 Recap and Future Roadmap

On 3-Oct, a Discord Space (https://youtu.be/UpERSU2RsRk) was held to discuss the 3Q-2024 Recap and Future Roadmap. Highlights:

• Onboarded Strangelove team to develop new upgrade pathway, Cosmos v50, IBC, CosmWasm
• Onboard Rujira Alliance for App Layer Defi suite: orderbooks, perps, money markets, launchpad, etc
• Nine Realms working on Active Yield, Router v5.1, Incentive Pendulum
• Upcoming new chain integrations: Base, Solana, Ton
• Savers-POL Match, ADR 16 (Affiliate Rev Share), ADR 19 (Autobond) & ADR 20 (Trade Fees) deprioritized

On 18-Oct, a THORChain X Spaces (https://x.com/i/spaces/1gqGvNZbaEwGB) outlined more specific roadmap milestones, hopefully to be completed before end-2024:

• V2.138: Base Chain integration, EDDSA signing, AppLayer
• V2.139: Solana Chain integration
• V2.140: TON Chain integration

2. Adjustment of Minimum Slippage for L1 Swaps

Before 25-Jul, there was no minimum slippage for L1 swaps, hence small trades were paying infinitesimally small slippage. On 25-Jul, this was changed to minimum 5bps for single swap (10bps for double swap), and on 15-Aug, this was again changed to minimum 15bps for single swap (30bps for double swap). The devs had intended for 15bps for a double swap; thus nodes again voted on the Mimir and reached consensus on 15-Oct to set a minimum 8bps for single swap (16bps for double swap). To clarify, a single swap is a swap to/from RUNE, while a double swap is a swap to & from non-RUNE.

3. Adjustment of Max Pooled Bond Providers

This node voting to increase Max Pooled Bond Providers from 10 to 100 was started on 10-Aug, and finally reached consensus on 15-Oct. Pooled bonders still need to be whitelisted by the node operators, but the minimum RUNE bond requirement per pooled bonders will decrease significantly. Reference: https://docs.thorchain.org/thornodes/pooled-thornodes

4. V2.137 Update

On 28-Oct, v2.137 was released. Highlights include:

• Fixing Savers Quote
• Adjust Incentive Pendulum
• Multiple Affiliates

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