Keep Network Dev Updates: Issue #9

T Token rc0 Proposal is Live, Keep is Building the Coverage Pools in Public, and Rari FUSE Proposal to Integrate KEEP token.

Hey everyone! Welcome to another Keep Network DEV Updates, a weekly recap of all things related to the development of the Keep Network.

What is Keep Network? Keep is Ethereum’s first private computer, able to store and compute data hidden even from itself.

This Week in Keep Network

  • Community members @nahuus and @EstebanK have written a blog post exploring the importance of coverage pools to tBTC v1.5. The post goes into much further detail along with the importance of a decentralized wrapped BTC on Ethereum — Check it out.
  • Keep liquidity rewards have been topped up. The distribution this week is: 25K KEEP to Uniswap TBTC / ETH pool — 170K KEEP to Uniswap KEEP / ETH pool — 250K KEEP to Saddle BTC Pool — Check it here.
  • There is a new proposal to integrate KEEP into Rari Fuse pool 3 supported by @corollari. This would make Rari the first lending protocol integrating KEEP, giving all holders more options to use and earn on their tokens — Read more here.
  • Keep Network is building in public! Coverage pools are open source. Check it all out here — https://github.com/keep-network/coverage-pools
  • There is a new community dev grant opportunity to build Coverage Pool auction bots. Check out #development on the Discord for more info on this — Check here.
  • Based on the feedback from third-party accounting and legal experts the T Token rc0 (release candidate 0) joint proposal by Viktor Bunin and Belongstaff is now live on the forums — Read it here.
  • Keep Network and Nu Cypher hard-merge proposal was highlighted in the CryptoDiffer Twitter — Check it out.

Development Updates

Coverage Pool Development Updates

It is possible to verify by the pull requests in the Coverage pool repository that a lot of exciting progress is happening. Coverage pools will be used to offset risk, allowing human or algorithmic governance to reward underwriters. They’re designed as building blocks rather than a standalone product, allowing system designers and communities to tailor risk management to their circumstances.

The Risk Manager should act as a last resort for opening an auction to buy a deposit in liquidation, taking this into consideration, the Pull Request (#38) adds deposit collateralization threshold level, providing the possibility to the Governance to be able to update the threshold level in 2 steps. The first step is to announce that the update is on the way with a new value, and the second step is to finalize a new value after the delay time has passed. If the deposit collateralization is higher than the threshold, then an auction will not be opened. It depends on #26 Pull Request

The Pull Request (#53) introduces a basic system test framework and adds a case for the deposit liquidation path.

Token Dashboard: 1.13.0 Mainnet Release

Token Dashboard: 1.13.0 (Mainnet) was released in the keep-core repository on May 3rd, v 1.13.0 is the latest release of the KEEP token dashboard. The most important changes since v1.13.0 are:

  • Implemented Explorer mode — support for viewing the KEEP Token Dashboard without needing to connect via wallet.
  • Fixed KEEP-only pool multiplier formula and format. Now multiplier runs from 1x to 3x. Before a wallet is connected, the dashboard displays the minimal multiplier.
  • Improved the top-up UI flow. Made clearer in the UI that there’s a 12-hour delay before a top-up can be committed. Made it clearer in the UI that a top-up cannot be canceled.
  • Updated Keep Random Beacon Applications page information. Disabled authorize button for Keep Random Beacon operator contract and added a tooltip indicating the operator contract is disabled due to the geth hard fork that occurred on 11 November 2020.
  • Added support for showing a tooltip that displays the full number for all abbreviated numbers.
  • Fixed displaying the correct amount of the Keep Random Beacon rewards.
  • Fixed displaying paid-back delegations. The paid-back delegations from StakingPortBacker contract should be displayed as delegations from liquid tokens.

Ongoing Discussions

Join us at the next Keep Lunch and Learn on Wednesday in the Community Voice section of Discord to discuss v1.5 in more detail. Chris Battenfield will be there to talk about all things coverage pools and answer any questions you have.

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Did I Miss Something?

If I missed an important event and you think it should be added here, just contact me (EvandroSaturnino#9833) directly through Discord on the Keep Network server!