THORChain Announcements
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THORChain Multichain Chaosnet FUNDS CAP now set at 750k RUNE - $20m total funds.

Be safe, don't rush.

$RUNE #RAISETHECAPS
Caps have been hit, Midgard crashed.

Pls do not add any more funds, else you will get refunded.

$RUNE
Monthly Treasury Report - Apr 2021

The treasury comprises of $244m, funding protocol development, liquidity and paying out to community grants.
The protocol has 192m in RUNE reserves, worth $2.8bn.

Planned Obsolescence July 2022.

https://medium.com/thorchain/monthly-treasury-report-apr-2021-3d0d864f8c31
Weekly Dev Update #91

THORChain Weekly Dev Update for Week 91, 30–06 May;

* Multichain Updates 0.49, 0.50, 0.51,
* Community Improvements,
* RUNEYield iOS Testflight app,
* RAISETHECAPS

https://medium.com/thorchain/weekly-dev-update-91-f6f1593c56a
Weekly Dev Update #92
THORChain Weekly Dev Update for Week 91, 30–06 May; Multichain Updates 0.51, SCCN Update 0.19.3, 0.19.4, THORWallet, THORNameCom, THORChainTools, updates to explorers and more
https://medium.com/thorchain/weekly-dev-update-92-88150c87f56
THORChain Weekly Dev Update for Week 93, 15–23 May

* MCCN V0.52.0,
* MCCN V0.53.1,
* BitcoinCash Bug,
* Midgard Continuous Aggregation,
* THORWallet, Community Updates

https://medium.com/thorchain/weekly-dev-update-93-826150fd1df5
THORChain Launches THORName Service

FOR RELEASE: The world’s first cross-chain liquidity protocol will launch a multi-chain address service

Pre-register your twitter handle, and learn more:

https://medium.com/thorchain/thorchain-launches-thorname-service-abe42ba11df8
#THORName Service Free registration is now open

Go to https://thorname.com and claim your #THORName
THORChain Weekly Dev Update for Week 94, 24–31 May;
* MCCN V0.53.1, MCCN V0.53.2, MCCN V0.54.0, Midgard 2.1.1,
* DragonsDex debut,
* Megingjoro debut,
* DecentralFi updates,
* GrassRootsCrypot new videos

https://medium.com/thorchain/weekly-dev-update-94-2209d662e955
Monthly Treasury Report — June 2021

The treasury comprises of $109m, funding protocol development, liquidity and paying out to community grants. The protocol has 190m in RUNE reserves. Planned Obsolescence July 2022.

https://medium.com/thorchain/monthly-treasury-report-june-2021-cb9f59b62d71
SCCN is halted

It is time to retire single chain chaosnet. The future is multi-chain.

LPs: please withdraw liquidity. The network will be shut down in 1 week.
MCCN Halted - Exploit Confirmed

During a live attack, the network has been halted. Approximately 4,000 ETH of value was extracted from the protocol.

While the treasury has the funds to cover the stolen amount, we request the attacker get in contact with the team to discuss return of funds and a bounty commensurate with the discovery.

Node operators, liquidity providers and swappers - Your funds will be available when the issue has been patched & the network resumes. Any in-progress swaps will be finalised at this time.

Problems like this highlight the resiliency of decentralized communities - Without any admin/dev intervention the community identified & halted THORChain within an hour. THORChain will emerge stronger after this attack.

More updates to follow.

(updated with new values)
MCCN Exploit Update

Loss:
Approx ~$4.9mm USD was taken in the exploit, far less than the intitial figures posted earlier. A granular breakdown is being developed by the community.

Method:
ETH Bifrost was tricked using a custom wrapper to read a deposit amount of 200 when it was actually zero. More details will be provided in the upcoming post mortem blog.

Discovery:
The issue was discovered by a community dev and anonymous nodes voluntarily used make halt command to stop their nodes. Once more than 1/3rd nodes had been halted, the network itself was halted. This was a decentralized action taken by node operators to protect the network.

Recovery:
1. Release the patch & restart the network > block pending outbounds > restore solvency.
2. Donate funds back to the ETH pool to restore lost funds to LPs
3. Release auto-solvency checker as a future preventative measure
4. Continue working with security firms to audit.

This is a disappointing moment for all, but LPs and Nodes should be unaffected after all is recovered (the funds will be restored). The network will be stronger and more resilient.

The THORChain community appreciate the inflow of support. More info to come in due course.
THORChain Announcements pinned «MCCN Exploit Update Loss: Approx ~$4.9mm USD was taken in the exploit, far less than the intitial figures posted earlier. A granular breakdown is being developed by the community. Method: ETH Bifrost was tricked using a custom wrapper to read a deposit amount…»
Hardening the THORChain Protocol
Steps taken to make THORChain more resilient to attacks and network uncertainty.

* Automatic Solvency Checker
* Granular Network Pause Controls
* Node Timeouts
* Outbound Throttling
* Node Broadcast Bot
* Live Monitoring

https://medium.com/thorchain/hardening-the-thorchain-protocol-f80164de7685
Monthly Treasury Report - July&August 2021
The treasury comprises of $194m, funding protocol development, liquidity and paying out to community grants. Liabilities have been secured. The protocol has 180m in RUNE reserves. Planned Obsolescence July 2022.
https://medium.com/thorchain/monthly-treasury-report-july-august-2021-b6ffb7b29268