Wed. Apr 14th, 2021
DeFi, Free TON,

During the meetup, participants discussed Tonbridge.io updates, a stablecoin contest and the TIP-3 upgrade standard. The Wintex.pro team presented a demo version of the Polkadot bridge.

Weekly DeFi Governance Call #22

Tonbridge.io news and updates

Tonbridge.io launched a small Bug Bounty Program. Vladislav thanks all the community members for their participation and help in improving the quality of the bridge. The results are now being summed up, and special prizes will be announced early next week.

We are currently preparing the big Bug Bounty program launch. It will be released next week. This precedes a formal bridge security audit. The only formal criterion is to publish a unique bug found in one of the bridges. 

Root contracts have also been deployed for all other promised tokens. The root addresses will be published in the DeFi group, you can add them to your crystal wallet or use them through any other interface.

Stablecoin contest

Alexandr Vat invites everyone to participate in the discussion of the stablecoin contest stages development. He tried to divide the contest into 4 stages, as was the case in the DEX contest, but the main problem is that everything is closely connected in stablecoin.

Ivan expressed the opinion that there is no need for a UI / UX interface stage for this contest. Vladimir Maslyakov explained that since they don’t have many examples of using a working implementation of the DeBot interface, they decided to play it safe and add a UI / UX stage to the proposal. If the community decides that the DeBot interface is not enough, then the last stage will be dedicated to UX/UI. 

After discussion, the participants agreed on the need to finalize the draft of this contest. If there is no criticism, it will be published and launched.

Polkadot bridge demo: Stage 2

The second stage has come to an end and the Wintex.pro team is ready to demonstrate the token transfer between two blockchains: the substrate-based chain and Free TON.

Several scripts have been created to build and deliver docker-containers to Docker Hub. This will improve the delivery process in the future for the next milestones in the system. Everything that has been demonstrated in the demo will be ready to be deployed to the GitHub. The documentation will also be updated during the day. Wintex.pro asks teams to join and test this phase. If any questions arise during the check, they will be happy to answer them. 

Vladislav asks the Wintex team to estimate the time required to implement the finished product.

  • When will the final product be ready?

It depends not only on us, at the moment we have completed the second stage. There are two more contests ahead of us, it will depend on the teams and the time it will take to deploy these contests.

  • Do you have a ready-made container where we can conduct local testing to understand that what we saw in DEMO now works the same way?

Yes, we will make sure the containers are ready. All the instructions, all the documentation required to get started will be included. The only thing is that the code inside is new, since we had to rework a lot of things.

TIP-3 upgrade standard

Mitja created a repository, which is a TIP-3 kind of consortium. The idea is the following: there is a TIP-3 mechanism, which is the mechanism for creating a distributed token. 

Mitja started a discussion with the Broxus team on how to harmonize this ABI.

TON Labs is implementing decentralized exchange. It was necessary to make the ABI fit in one message deploy. However, it became clear that this could not be done, since it was impossible to leave the created token with an interface that would be universally good for everyone. The number of requests to change the interface level is growing. This leads to the only logical conclusion: we should not try to harmonize the interfaces because it doesn’t make any sense. The cons of that is that now there is an on-chain composability problem and off-chain compatibility problem. Either you create a large contract that has all the interfaces you need and has all the binary-compatible codes of this TIP-3 that you want to support, or you create some kind of wrappers around them that make a deposit of one code and get another. 

The harmonization of the front end in Free TON is achieved through DeBots mechanism, not through ABI compatibility. DeBot solves this problem where ABI compatibility does not. That’s how you achieve full compatibility and extensibility on the interface level. 

The idea is to have the same consortium for TIP-3. You can add as many interfaces as you like. The only rule for TIP-3 token is that the actual mechanism of TIP-3 token remains the same, as this is a security issue.

You have a mechanism of verifying the contract code. On the external side it is possible to agree on one or two interfaces that should still be supported. Then you can add as many interfaces as you want, and if someone wants to support your TIP-3 ABI in TIP-3 token, it goes to the consortium, where you list all these changes and maintain the smart contract inside the blockchain. Mitja believes this is the only way to support this standard.

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