Highlights
- Rune affiliate fees from ThorChain swaps grew 240% month over month (+192% prev MoM) establishing a nascent trend we are keen to see continue as we continue to invest engineering efforts into the swapper.
- Engineering, Product, Marketing and Operations work streams collaborated to submit a proposal to the Uniswap Foundation for ~300k USD of grant funding to help build out UI tooling for liquidity providers and pool creators on Uniswap V4. We hope to hear back in the coming weeks on next steps from the Uniswap Foundation
Lowlights
- The Gnosis coinstack suffered an extended outage lasting for more than 9 days. Resyncing the indexer took dramatically longer than expected due to out-of-memory kills while syncing which required constant snapshots and babysitting in order to return to height. While similar issues have been reported in BlockBook previously, a full root cause analysis is still underway.
- A critical bug was discovered in the swapper that exposed user’s of “Long-tail” swaps to to unlimited slippage. A Correction of Error (COE) was completed on this issue in order to surface processes to avoid this type of mistake in the future.
- AWS infrastructure costs for the month of January were $32,045.01 (+6,062 MoM) and Zerion API fees were $2910.00 (+2,559 MoM) again highlighting the need for reducing costs in both consumed APIs and our own back end infrastructure.
Last Month
The team’s primary focus for the month of January has been adding support for Thorchain liquidity providers. Work has been completed to source and display liquidity pool metadata and generate transactions for adding liquidity. Engineers also introduced full support for parsing thorchain based historical transactions for better views of these in the UI. Balance checks for all assets and approvals for ERC20 have also been added to the LP workflow.
In parallel to the Thorchain LP work we have pursued efforts to continually improve the application and explore new options for backend infrastructure hosting with NowNodes. Notably, we shipped functionality to support cosmos on Ledger devices, simplified importing a wallet, and added the ability to swap to a custom address. Trade quotes in the swapper are now handled asynchronously, reducing the time it takes the user to see the first possible quote and non-actionable quotes will no longer be suggested to a user as “best” in situations where the user doesn’t have the needed native assets for gas on multihop executions. On the backend side of things, we introduced a new reverse proxy service to better control granular access to third party APIs and also cut over various coinstacks in our development environment to begin testing NowNodes.
This Month
We are currently wrapping up the remaining work needed to release support for Thorchain liquidity providers. The creation of transactions to remove liquidity are in progress and the operations workstream is currently testing the new functionality to identify bugs or areas of improvement prior to final release in the coming weeks.
As we wrap up our first release of Thorchain LP functionality, we will also begin breaking down engineering work associated with adding Limit Orders to the swapper interface. Completing this functionality will be the next feature priority for the team.
We are continuing to vet our relationships with NowNodes in order to determine if they are the correct long term partner for the DAO’s infrastructure needs. As such we should expect to cut over at least 1 production coinstack to a NowNodes hosted solution (NowNodes providing BlockBook and a raw node) in order to continue making progress.