Secured Assets

The assets available on Rujira will be Secured Assets from THORChain, with the delimiter to be a dash '-'. E.g. ETH.ETH is L1. ETH-ETH will be a Secured Asset.

You can find out more on Secured Assets on docs.thorchain.org.

Assets Overview

Primary Asset: Secured Assets via "TokenFactory"

BTC-BTC (BA) ↔ BTC.BTC (L1)

Secured Assets are fully supported on the Cosmos ecosystem represented as x/bank tokens using the bank module. They behave like traditional trade assets and can seamlessly interact with Base Layer pools. These interactions include:

  • Redeeming

  • Moving into and out of pools

  • Depositing

Currently, Secured Assets support 1:1 redemption and deposits. A fee structure will be introduced in a future update. These assets will appear alongside RUNE on your THOR address.

Application Interaction (App Layer and L1)

The first app utilizing these assets will be RUJI Trade orderbook DEX, which introduces limit orders. The user experience will be:

  • Deposit/Swap: Users can deposit or swap to BTC-BTC to fund their accounts.

  • Swaps: For example, a BTC-BTC to ETH-USDC swap will use a wrapper over MsgDeposit, handling:

    • Thornames

    • Affiliate fees

    • Safety checks

Transaction Flows

  1. To THOR EOA: ETH-USDC is swapped via base pools and delivered to the user’s THOR address.

  2. To CosmWasm (CW) Contract: ETH-USDC is swapped, and DexAgg features are leveraged to call a contract on THOR with specific parameters.

  3. To L1: Similar to current behavior.

Input/Output:

  • IN: MsgDeposit

  • OUT: txOut or DexAgg.transferOutAndCall()

All flows include comprehensive safety handling, adhering to existing THORChain (TC) mechanisms without bypassing critical processes.

Query Support

We will add bindings for the following whitelisted query paths:

  • /inbound_addresses: For checking halting status

  • /pools: For pricing and depth

  • /pool/{asset}: For querying specific asset pools

There are known attack vectors related to non-deterministic query aspects that could potentially lead to chain halts. These are being actively monitored.

Protocol Fees

BaseProtocolFeeShare is not required for RUJI Trade orderbook DEX since it operates using BaseLayerPools and does not introduce any additional fee-sharing logic.

Sources

Relevant PR: GitLab MR #3721

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