The long-anticipated release of dApp Version 1.2 is finally here. It brings an optimized Bifrost contract that will help alleviate the limitation of compounding with a high node count. The main focus of this update has been on the dashboard and the ability to create and compound nodes giving users full control in the process. Let’s get to it!
Features and Benefits
We Closed the Compounding Loophole
Since the protocol’s birth, when we introduced claim taxes, there was a perk to compound. If you had rewards left over when you compounded, we transferred the excess to your wallet at 0% tax. In the short term, this seemed to benefit the end user greatly and gave them the incentive to compound. Unfortunately, the perk caused our emissions to increase by at least 10% each month as the protocol grew. Users took advantage of this.
So, acting in the interest of the protocol’s longevity and considering feedback from the community, we’ve discontinued the ability to have your excess rewards transferred to your wallet untaxed. Rewards not used in the compounding process will remain as pending rewards that you can claim later at your “average” tax tier, or use for future compounds.
Create Multiple Nodes At Once
Historically, the contract allowed users to create multiple nodes at once as long as there were sufficient available pending rewards. Some users experienced the unfortunate side effect of selecting the incorrect warrior and creating multiple nodes when they only wanted one. We eliminated this possibility by allowing you full control over the number of nodes you create (up to five at a time) and their names, even when compounding. And users will no longer be haunted by the trailing zero when compounding.
We Updated the Quality of Life Feature to “Combine”
In Discord, over the past months, we’ve seen the term QoL. QoL stands for “Quality of Life,” and at ThorFi, it refers to the capability of compounding using your pending rewards and your wallet balance to compound. The one rule for this was that you had to have at least 50% of the total amount required for the transaction to be within your pending rewards.
We are now calling the “Quality of Life” feature the “Combine” feature. Basically, it combines your rewards and wallet balance to compound. The same rule of needing at least 50% of the total amount required for the transaction to be within your pending rewards remains. But now, it comes with the ability to create and name multiple nodes at once.
We’re giving you a choice if you want to use the “Combine” Quality of Life feature or not by selecting it within the dApp.
We Limited the Max Wallet to 100 Nodes
We all know that a high node count can cause dApp and contract interaction issues. Because of this, the team has always suggested not going over the node count of 100 nodes. Up to this point, the count was self-governed. Our contracts now help alleviate compounding or creation mistakes by validating the number of nodes you have. They limit the number you can create or compound to 100 nodes.
dApp Version 1.2 Bonus Features
Compound Into An External Wallet
This powerful bonus feature was exciting to add to our arsenal of options within the dApp and contracts. Since there is now an imposed limit on the number of nodes you can have within your wallet, the team wanted to give you a way to compound and grow your node portfolio without having to claim and take a tax hit (which was 10% at the least). The process is the same as compounding into your current wallet, except we give you the option to specify a destination wallet of your choice (like a close friend’s or family member’s).
Other Features
While most of you may be aware of the ongoing changes, we wanted to remind you of a couple of recent, large additions and relevant changes to the dapp.
Launched and over $100k in sales so far!
Fixed stuck staking errors • Fixed depositing greater-than-balance errors • Made visual improvements • Created a script to automatically manage Thor APR • Created a script to manage reward payout pool balance• Improving Vesper’s visuals and user experience • Aligned design to the intended layout • Made mobile improvements • Rearranged tabs
Launched and over 1,000,000 $THOR Wagered!
In Summary…
To achieve the results and improvements found in dapp v1.2, we stealth-launched contract improvements dubbed internally as Bifrost v2.1.
Bifrost 2.1 allowed for all of the previously mentioned improvements;
- Closed the compounding loophole
- Allowed creation of multiple nodes at once
- Allowed control over naming individual nodes
- Fixed a naming bug resulting in “0” at the end of the compounded node name
- Added validation checks to limit the size of a wallet to 100 when creating and compounding
- Optimized some contract functions to use less gas
- Allowed compounding into an external wallet
Shortly after we released dApp v1.2, we collected feedback from the community and began updating our Bifrost contract to v2.2.
Bifrost Version 2.2 Features and Benefits
We Solved the Compounding Limitation With High Node Count
We’re also releasing updates to our backend contracts. We’ve made painstaking efforts to solve the issue with compounding transactions hitting the Avalanche Network gas limit. Some of you may have experienced this; some of you may not have. Helpful community members have shared many processes within our Discord community that help circumvent this issue. In solving this long-term issue, we have applied creative solutions instead of having to rely on workarounds as we continue to scale.
The Avalanche Network still has the 8,000,000 gas limit; we’ve just optimized our dApp and how it interacts with the contract to limit the gas used when compounding nodes.
We Addressed Average Tax Calculations
The average tax has been inconsistent when multiple tiers are at different tax rates, so we updated our calculations within the dApp to make the tax accurate. This change is based on front-end displayed calculations and, therefore minor, but it ensures our community gets exactly what they expected.
We Enabled God Mode to Be Toggled On/Off
God mode is a powerful feature, allowing you to compound across multiple tiers. Still, if your specific function isn’t utilizing it, the checks and verifications God Mode runs through on the contract might bump your gas cost a minor amount. To help you save some gas money, we enabled God Mode (if earned) to be toggled on or off as you choose. Every bit helps; just don’t forget to toggle it back on when you need it again.
You Can Now Filter Your Claim Rewards
Another Quality of Life bonus feature we’ve been working on is the ability to filter nodes within the ‘My Nodes’ section and only claim those displayed.
From the ‘My Nodes’ page, select your desired node filter. This will update your node list, and the ‘Claim All’ button will change to ‘Claim Filtered.’ This new quality-of-life feature helps eliminate the need to claim individually and will only claim those nodes that are visible within the filtered results. We would love your feedback on this new feature.
Features Coming Soon
Unlock Additional dApp Validation
Wouldn’t it be nice to have the dApp do some prevalidation on your transaction? Prevalidation prevents the notorious (and uninformative) “this transaction is expected to fail’’ error from MetaMask or Wallet. And we’re working on it.
We all know it’s annoying to receive this error or an error like this.
Trying to track down why MetaMask is giving a specific error is a chore. To help alleviate the frustration (and save you hours of banging your head against the wall), we’re also working on in-app validation with informative messages that alert you if and why your transaction will fail. This way, you’ll be set up for success before any transaction gets sent to your wallet for completion.
Reasons Why MetaMask May Fail:
- Lacks enough rewards to compound into another node when compounding
- Held tokens equal less than 50% in rewards when using the Quality of Life ‘Combine’ feature
- Hits the 100 node max limit
- Reveals that the node name already exists, when compounding and naming your node
- Lacks the balance necessary to create or compound
- Receives the notorious error that you’ve exceeded the block gas limit for Avalanche Network
Important Notes
Please note that wallets with 85+ nodes may still experience some issues with gas calculations failing when claiming by tier. However, you can still claim individually if you encounter this problem.
Also, you will need to migrate by clicking the ‘Migrate All’ button within the dApp, which will migrate your pending rewards to the newly updated contract. If you do not have any rewards from compounding previously, then this button will not show for you; you migrated and are good to go.
And as we continue building, we appreciate all of the positivity that our ThorFi users bring.
With thanks to our community,
The ThorFi team
