Kevin @Berrey | Sunny @sunnya97
@ProtocolVoid
tl;dr
-next chain update coding in progress: TWAP & customizability for Token Factory (necessary for native USDC and Mars and other protocols will need it as well)
-RektDrop to cover exploit still on its way: working to harmonize data from several sources to make sure amounts returned are correct
-Void Protocol is building privacy on top of Osmosis, v1 similar to Tornado: later versions will be even more secure due to ability to customize chain logic (vs. Ethereum)
-rough, non-binding estimate for Void launch: 4-5 months
-no Updates next week (probably moving to bi-weekly schedule)
-OMM may be arranging alternate-week programming
Chain Dev team is working on 2 new things:
TWAP (time-weighted average price): https://docs.uniswap.org/protocol/V2/concepts/core-concepts/oracles
does price over time — say every 5 minutes interval
-if you didn’t have TWAP, it would be easy to manipulate price — then liquidate someone — then price moves back
-for TWAP, you would have to keep the priced moved for a long time
-and if you try to do that, someone will arb it back
-TWAP will prob. record price at the end of every block
-the TWAP data will prob. be stored for a week for people to query
-longer than that and it would be expensive / database bloat
-TWAP is for dapps, mostly, rather than end users
-Osmosis as infrastructure (via the TWAP oracle) for other protocols
-decentralized oracles are more reliable / transparent
-Chainlink can aggregate data, call into Coinbase/Binance APIs
-long-term, people will probably use a combination
-and decentralized TWAPs will likely feed into aggregators like Chainlink
-adding customizability to Token Factory module
-Token Factory allows dapps (mostly) to mint native tokens on Osmosis
-currently, there are things you can do with CW20s that you can’t do with native coins
-e.g. every time someone transfers a coin, you can enact some logic
-like charging a fee
-or logging who transferred to whom (can do governance accounting or other things)
-so we’re adding the ability for CosmWasm contracts to add a hook
-could do whitelists and blacklists
-any sort of core logic you want to add
-after this, native coins will be able to do everything CW20s can
-except maybe re-basing (but re-basing can be problematic anyway)
-we want to push this upstream and have all chains integrate Token Factory
-make it a standard throughout Cosmos
Kevin: what are some use cases for Token Factory?
Sunny: centralized stables like USDC want to be able to blacklist certain accounts, and this upgrade to Token Factory will allow that
-the Mars folks also need this, as do some other apps
-you can already use Token Factory to create your own token
-if you know how to use the CLI & pay the 10 or 100 OSMO fee (Sunny not sure)
-createDenom (and you give it a name)
-then it will be factory/youraddress/theNameYouGiveIt
-factory/Sunnyaddress/SunnyCoin
-address is to differentiate if people give the same name
-no one has done this, Sunny believes — so it would be cool if someone tried it out
RektDrop (exploit repayment): still working on it
-sorry it has been taking so long
-multiple people working in parallel, getting slightly different data, so we need to harmonize
-but still working to get it out as soon as possible