Highlights
- rFOX was released on June 25, reaching 31 million FOX tokens staked into the smart contract as of July 6th.
- On June 5th we released support for Base including swapper, NFT and fiat on-ramp support.
- On June 4th our new account management functionality became generally available simplifying the user experience for more advanced users.
- Infrastructure costs for June (~14k USD) are down an additional 30% from May (~20k USD) including cost savings from fully scaling down our self hosted instances for cosmos, litecoin and binance smart chain.
Lowlights
- A security vulnerability was disclosed via our RDP program through Hackenproof. This vulnerability allowed an attacker to inject arbitrary URL paths into one of our market data APIs that would then be requested on the host and results returned to the user. These paths could either be external sites or local network paths on the host machines, allowing the attacker unintended access to the internal network. The issue has been resolved and the security researcher awarded $7,500 for their disclosure. For more information please see this forum post.
- Gnosis blockbook has continued to be a problem with syncing the large amount of transactions on the chain. We have made the decision to remove support for ERC1155 NFTs on the chain which account for much of the performance issues when syncing the chain and anticipate blockbook support to be back online in July once this work has been completed.
Last Month
June was a busy month for the team as we rolled out several large features; rFOX, Base support and our new multi account management functionality. rFOX work constituted a significant portion of our capacity as we deployed the final versions of the smart contracts, added the new rFOX dashboard, prototyped the CLI accounting tools and added support for the arbitrum bridge to guide mainnet FOX holders through the end to end process of bridging to arbitrum and then staking into the rFOX contract. In our backend infrastructure we also exposed additional indexing to allow us to better track real time affiliate revenues. Overall, we are thrilled to see this feature out the door as it’s a rare example of the community directly dictating a feature they desire to see in our ecosystem.
The team additionally invested into several mobile application improvements. We resolved a long standing issue around WalletConnect functionality in the app, fixed issues with internationalization of the numeric input pad (decimals vs commas) and updated several dependencies in order to stay in compliance with both the Android and iOS app stores. In the web app, we released the ability to swap from thorchain supported assets to “longtail” erc20 assets routing through uniswap in a single transaction (the reverse route, long tail into Thorchain, has been previously available). We added support for CowSwap on arbitrum, fixed issues with UTXO fee estimation, and added better error messaging to be returned from /send endpoints to help with debugging. Additional small UX improvements have been made across the application as well.
This Month
Our biggest priority for the month will be finishing the CLI tools needed to facilitate the distribution of Rune to rFOX stakers. This tooling will have two main features. The first will be the ability to close out the end of epoch rewards calculations which will then be posted to IPFS for community review and approval. Once these have been socialized, the multisig signers will then utilize this CLI to distribute the rune to stakers and pin all transaction hashes to IPFS, completing the epoch life cycle. The CLI tool will provision an ephemeral hot wallet for each epoch that is funded by the DAO’s multisig with RUNE to process that epoch’s distribution. The memo of the transfers to each staker will encode metadata about the distribution for further traceability throughout the rFOX ecosystem. As the first epoch closes and we have production data, we will continue to develop the rFOX dashboard with more metrics and information on the program.
Additionally, we have a long list of smaller features that we plan to roll out this month including: asymmetric thorchain LP withdrawals, modifying existing thorchain LP positions, support for Rune singled sided staking (Rune pool), adding the arbitrum bridge and DeFi positions through Portals into the swapper and support for custom token imports. Engineering has also been discussing the ability to support view only addresses with the Product Workstream and may also take on work to introduce some functionality along this path in the coming weeks.