Chainflip Development Update — February 8th 2024

Dear readers of the dev update,

We keep raising the swapping limits in regular intervals. Currently they are set around $50k. The Liquidity Providers are also increasing their positions to accommodate for these new swap sizes.

Progress

We are working on the integration of more external blockchains that will both expand the sets of assets available for swapping, as well as allow more efficient third party integrations into our protocol. Some of the benefits would be cheaper transaction fees, especially for cross-chain messaging, but also a more diverse choice of development environments (think: languages in which to write smart contracts) for integrators.

Initial development for one of these has been completed and we are now moving to testing it thoroughly.

Outlook

Next week we will release version 1.2 to our Perseverance test net. There are several internal improvements in this update, which will unfortunately break compatibility with our LP and Broker APIs. The APIs themselves will remain backwards compatible, but the software that exposes these APIs will need to be updated. Because our node deployments consist of multiple applications, the update procedure for this release will be a bit more involved. We will announce a detailed update plan and all operators will have a chance to practice the update procedure on our testnet before we roll out the new version to mainnet. It is clear to us that this is annoying and the update should really be a matter of running a single command once the new version is available. So we are going to build just that! By making all interfaces between the components both forward and backward compatible as much as possible without sacrificing type safety, we can avoid such complicated updates in the future.

In addition to that, we are improving our development processes with some handy functionalities, like automatically creating pull requests for cherry-picking fixes, adding the full web-stack to local testing environments, so you can simulate the entire ecosystem more easily, and running simulated migrations between the current testnet and the tip of our code repository every night.

Vibe Check

The mainnet has been working without complications, swapping limits are being raised, and we are receiving some great community feedback. Everything is looking great for our full launch.

Until next time,

Martin