The Ergo weekly Dev update is not the sexiest crypto blog. Although all things being equal its a solid choice.
Focusing on the moon is great, but the truth is a rocket takes an incredible amount of engineering.
Designing and building systems that are subject to immense pressure is not an easy task.
It is always the brains in the background that actually get things done. This what the Ergo team is about, building solid tech.
Open source software developers are unappreciated heros who endure an underappreciated grind.
There’s a new grant fund for ecosystem development, please check it out!
Gazza_Erg (ErgoDex Community Manager)
Sorry for the confusion of the tweet. It’s understood that it wasn’t translated as intended. Hopefully, this article can help clear up any concerns of people and I have read every comment up to now and all feedback is welcome.
Feel free to Join the ErgoDex Telegram Channel if you have questions.
The news of the day was a poorly worded tweet. I was asleep when that went out. Some days you get out of bed blind to what the day has in store for you. I guess we did a little bit of cleanup.
All in all, it’s a lesson, that is what mistakes are in the end. You learn and you grow.
When you make a mistake, own it, access the situation, accept feedback, and move forward a little bit wiser.
I think that is happening with the ErgoDex team, so let’s move forward.
The big question users have about ErgoDex is, When will it get a token?
I understand the question. Governance tokens are popular.
(The following is my opinion)
Many Dexes have large treasuries and some users see governance tokens as an opportunity to vote in favor of redistributing fees as a potential passive form of income. Some governance tokens are like a club membership giving traders discount rates. This seems to be the primary driver of speculation. It has led to liquidity farming, liquidity mining, and various other mechanisms of trying to generate yield.
Do governance tokens that distribute accrued fees to the platform’s governance token holders look like security? I guess the correct answer is, who’s eyes are looking? That is a hard question to answer at this point.
Governance is a dually important aspect in extended UTXO, as a decentralized exchange will be running code both on and off the base chain. Absent some form of distribution of control centralizes power in a way that is suboptimal. ErgoDex is being built by a team that is committed to continually pushing updates and improvements.
One of the largest upsides in Proof of Work is that miners have always had the ability to vote via forks. It is a pretty straightforward process, you vote with your hardware You vote with the version of the reference client you mine.
Let us assume that tomorrow the powers that be decide that governance tokens are in fact, a security, and therefore are under the regulatory oversight and control of governments. This is not beyond the imagination of most who are paying attention.
Can governance be done without the need for a token? I guess one potential solution for Ergodex would be to use their off-chain bots as a solution. Just as miners provide network infrastructure to blockchains, off-chain bots provide critical infrastructure to the Dex.
The distribution of miners creates the security consensus in Proof of Work, the distribution of off-chain bots play a role in preventing REORGs and other potential attacks. In a worst-case scenario, this would give users the ability to support different versions/forks of ErgoDex.
If a governance token is launched what features or perks would that involve? How would the tokens be distributed in a way that helps discourage a plutocratic distribution?
There is a lot to consider with this topic. There are a lot of questions and known unknowns that the ErgoDex team has been taking into consideration.
If you join the ErgoDex Discord you will find the following message.
“Currently, there is no need for an ErgoDEX token. One may be added later as required to change an off-chain pool executor and will be distributed with a scheme that minimalizes plutocracy.
ErgoDex will pay fee’s natively in the blockchain being used (ADA|ERG).”
The best way to interpret that at this point is as follows. The first priority is software. At this stage of development, governance is not needed.
As the ErgoDex implements a stable version and begins its process of evolution there will come a point where these questions will get answered. The important thing, for now, seems to be reaching the point of having something implemented that is actually useful to govern.
Please be patient and as the project progresses I am sure you will hear more updates regarding the path this dApp chooses and the reasoning behind those strategic choices.
Ilya did drop an update this week. In my opinion, this is much more interesting than a badly worded tweet…
He has been working on a transaction assembler for the Cardano side of ErgoDex. This will allow for ErgoDex to be functional absent the Plutus Application Backend. I am sure at some point the PAB will launch. That is entirely up to IOG and the first version will be a starting point to optimize, update and build functionality. Ilya has included the assembler in the ErgoDex Software Development Kit.
The other news of the week is he is moving forward with simulating Concentrated Liquidity Pools. The principle of concentrated liquidity now allows a person who lends money to a liquidity pool or a liquidity provider to define a bandwidth or range in which they provide liquidity. This assists liquidity providers to have more control over their liquidity. While the specific implementation in Uniswap is under a software license, the general concept is an idea and an implementation in extended UTXO will have no similarity other than function.
Sorry, was involved with all this FUD around ErgoDEX
- I’ve been working on a framework for transaction assembly for Cardano. It’s required in order for ErgoDEX to not be bound to PAB which is delayed. Now it is included in our SDK (https://github.com/ergolabs/cardano-dex-sdk-haskell)
- Documentation of Cardano Explorer API. Preparing a production setup for it now.
- Moving forward in Concentrated Liquidity Pools development for eUTxO blockchains. Made a simulation.
Pragmaxim is working on cleaning up ScoreX after the latest update.
I was working on approximate caching of invalid TXs and modifiers + cleaning up Scorex code after migration.
Lado is both a gentleman and scholar. Reviewing his tutorials is an awesome tool for new users.
If you are new to the ecosystem please check out https://ergotutorials.com
This week we have two new tutorials check them out below. Also thanks for dropping a jpeg for the update.
2 New tutorials for https://ergotutorials.com/ (EN ES).
- Create mini web for your NFT >> https://www.youtube.com/watch?v=mP6D9Pf6p88
- Create a raffle in ErgoRaffle >> https://www.youtube.com/watch?v=wmzQV0ZTUWI
Apex is wrapping up the changes to the node interface. Those of you who run a full node will see some improvements after testing.
For myself this week:
Node Interface — finishing touches on network-specific explorer links (https://github.com/ergoplatform/ergo-node-interface/pull/37) @DeadIT it is ready for testing
- Sigma Rust — wrapping up unit tests for TreeLookup, PR soon
- Scrypto — BatchMerkleProofs — I have an implementation complete but still cleaning up the code, working through bugs
Morphic is back. He merged an update in the Sigmastate-interpreter removing unused code. He is working on preparation refactoring on our journey towards v5.0. He has been assisting with some aspects of the Ergo Foundation incorporating. It looks like he is also reviewing a PR for the Andriod Wallet and Ergo Improvement Proposals.
- Merged https://github.com/ScorexFoundation/sigmastate-interpreter/pull/740
- working on review comments, will finish today (https://github.com/ScorexFoundation/sigmastate-interpreter/pull/734)
- reviewed PRs in ergo-wallet-andorid, eips
- some EF duties
- work on next incremental PR towards v5.0
Kushti has been working on optimizing the newest reference client 4.0.15. Those of you running nodes may want to update them soon.
He is already looking into the next version 4.0.16, to have improved syncing and peer information.
He is also working with ScoreX to prepare for v5.0.
Many of you may have heard about Kushti discussing the possibility of prolonging the emission period via a soft fork. Those of you that have not can find the discussion here.
There was an article that dropped this week covering this as though it was definite. The intent was to begin a discussion within the community. I know Kushti enough to tell you that community consensus and approval is an aspect he cares about, this is not an order…
It is an invitation to participate, give feedback and help come to a consensus on the best path forward.
Kushti is also working on the LETS Ergo Improvement Proposal. It looks to me (!SPECULATION!) like he is playing with ways to keep costs down by running the LETS offchain or as a side-chain.
On my side:
* 4.0.15 released: https://github.com/ergoplatform/ergo/releases/tag/v4.0.15 , a lot of refactoring and minor bugfixes there (also, Docker and ergo-wallet publishing via Github Actions)
* https://github.com/ergoplatform/ergo/pull/1247 updated to be on top of 4.0.15
* working on https://github.com/ergoplatform/ergo/pull/1449 , to have improved syncing and peers info in 4.0.16
* small clean-up for sigma https://github.com/ScorexFoundation/sigmastate-interpreter/pull/740
* carefully reviewed https://github.com/ScorexFoundation/sigmastate-interpreter/pull/734 , I think there’s rough consensus towards this PR
* made a forum post on Ergo emission and possible prolonging of emission via a soft-fork, feedback appreciated https://www.ergoforum.org/c/research-and-development/7 , some initial code is written but I guess there’s a need for broad community approval on the proposal
* still working on LETS EIP. also thinking how to do LETS offchain or side-chain
I am doing minor Scorex code tweaks in i1226 and i1441 branches, please check (NodeViewSynchronizer / ErgoNodeViewSynchronizer, PeersApiRoute, ErgoHistoryReader touched)
Luivatra is playing with the ETH-USD oracle that he created. It looks like it will be added the explorer soon.
He has also been playing with a took to Detect NFT copies. The dirty scoundrel that spams the AuctionHouse with fakes is still at it, unfortunately.
PLEASE DO DUE DILIGENCE BEFORE BUYING NFTS
Eth-USD oracle — Exposed frontendData on http://www.ergolui.com/eth-usd-oracle/frontendData and made a PR to make it available on the explorer
NFT copy detection — Getting ready to deploy the first test version of the API. It can be called with a token id to see whether it is a copy of previously minted NFT’s, to see whether there are copies of an NFT, see all copies of NFT’s minted by a specific minting address. Will be available through a REST api so it can be integrated into other NFT tools.
MrStahlfelge released the Cold wallet update 1.4 this week. I hope everyone caught his video. This is a novel solution that could help people that have an extra android device increase the security of their transactions without the need for a hardware wallet.
He is working to move the dove to JVM only module making it flexible across other platforms iOS and perhaps even Desktop!
He is working on building Ui and we have a screenshot of the current version. I know this will make many users out there happy.
Was on vacation last week but back and working full steam.
* Android wallet 1.4 with Cold wallet is released with accompanying demonstration video
* Made an issue on the explorer-backend repo, a small whale found a problem in an API Android wallet is using
* refactoring a lot of Android wallet code to move it to a JVM only module that can be used from other platforms
* building the native UI on said other platforms, see the screenshot (no mockup, it is a real sceenshot)
Code_For_Uss is wrapping up work on the update tokenSalesService, the scanner, and has been playing around with ErgoFund contracts in the Ergo Playground.
I had a PR on ergo-playgrounds for setHeight in context boxes
There are two minor fix bug ready to review @kushti :
My suggestions for ErgoFund contracts is ready with help of playground and some scenarios (I am clarifying the code and completing the comments I think it will finally be ready today)
Anon_br is working on the ledger hardware app, as well as improving Yoroi.
On my side:
- still working on ledgerjs-hw-app-ergo
- investigating some Yoroi’s syncing and performance issues
Greenhat and team have been busy. The list of community devs he is working with seems to be growing.
We also got an update that the BIP-32 path and soft derivation for Ledger support is finished.
@soysor implemented AvlTree.contains #437 and ErgoStateContext construction from block headers #450.
@dusek made ErgoBox::tokens into BoundedVec #447.
@TimL implemented LastBlockUtxoRootHash #452.
- elem_tpe in Append and Slice evaluation #455;
- CollKind::elem_tpe #457.
And I finished BIP-32 path and soft derivation for Ledger support #448.
Next, I’ll get back to AtLeast implementation #377.
Moein is dropping the update for MHS and crew this week. The Waves gateway (via gravity) is under development. This will potentially allow ERG and oracle data (specifically v2 when running) to be ported through the Waves ecosystem.
The New Raffle UI is still in being tested. I am sure once it is launched everyone will know.
I think MHS will not be able to attend the meeting today
We are on the gravity in the unlock scenario test mode also Waves gateway is under development.
On Ergoraffle UI, we are interacting with the react development, to solve minor problems. In the new update, some changes were required in the back-end structure, that part has also been prepared and we are testing it.
DeadIT is working on updating and reviewing frontends throughout the Sigmaverse.
On my side:
- migrating explorer from v0 to v1
Also I closed many issues/reviews this week for explorer/ergo-node-interface/website.