elys

README

Elys

Elys is a blockchain built using Cosmos SDK, Tendermint and Ignite.

Parameter	Value
Chain ID	elystestnet-1
Denomination	uelys
Decimals	6 (1 elys= 1000000uelys)
Version	See latest version here
RPC Endpoint	https://rpc.testnet.elys.network:443

Get started

ignite chain serve

serve command installs dependencies, builds, initializes, and starts Elys in development.

Installation

With Ignite (Experimental)

To install the latest version of Elys binary, execute the following command on your machine:

curl https://get.ignite.com/elys-network/elys@latest! | sudo bash

Manual Installation With Makefile (Recommended)

This section provides a step-by-step guide on how to build the Elys Chain binary from the source code using the provided makefile. The makefile automates the build process and generates a binary executable that can be run on your local machine.

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1. Clone the Elys chain repository:

git clone https://github.com/elys-network/elys.git

1. Navigate to the cloned repository:

cd elys

1. Optionally, checkout the specific branch or tag you want to build:

git checkout <version>

note: 'latest' is currently not recognized but will be supported in the next version (eg use 'git checkout v.0.2.3')

1. Ensure that you have the necessary dependencies installed. For instance, on Ubuntu you need to install the make tool:

sudo apt-get install --yes make

1. Run the make build command to build the binary:

make build

1. The binary will be generated in the ./build directory. You can run the binary using the following command:

./build/elysd

You can also use the make install command to install the binary in the bin directory of your GOPATH.

Validator Guide

The validator guide is accessible here.

Network Launch

This section provides a step-by-step guide on how to launch a new network, such as a testnet, for Elys. The guide includes instructions on how to use Ignite commands to set up and configure the new network.

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Coordinator Configuration

To publish the information about Elys chain as a coordinator, run the following command:

ignite network chain publish github.com/elys-network/elys --tag v0.1.0 --chain-id elystestnet-1 --account-balance 10000000000uelys

Validator Configuration

This documentation presupposes the validator node is currently operational on Ubuntu 22.04.2 LTS.

Prerequisites

Before launching a validator node, a set of tools must be installed.

To install the build-essential package, enter the following command:

sudo apt install build-essential

Install go version 1.20

cd /tmp
wget https://go.dev/dl/go1.20.6.linux-amd64.tar.gz
sudo rm -rf /usr/local/go
sudo tar -C /usr/local -xzf go1.20.6.linux-amd64.tar.gz

Append the following line to the end of the ~/.bashrc file:

export PATH=$PATH:/usr/local/go/bin:$HOME/go/bin

Run the following command:

go version

This should return the following output:

go version go1.20.6 linux/amd64

Install ignite-cli

Enter the following command to install the ignite-cli command:

curl https://get.ignite.com/cli! | bash

Then run the following command:

ignite network

Install the latest version of Elys binary by running the following command:

curl https://get.ignite.com/elys-network/elys@latest! | sudo bash

Enter the following command to initialize the validator node and request to join the network:

ignite network chain init 12
ignite network chain join 12 --amount 95000000uelys

The coordinator will then have to approve the validator requests with the following commands:

ignite network request list 12
ignite network request approve 12 <REQUEST_ID>,<REQUEST_ID>

Once all the validators needed for the validator set are approved, to launch the chain use the following command:

ignite network chain launch 12

Each validator is now ready to prepare their nodes for launch by using this command:

ignite network chain prepare 12

The output of this command will show a command that a validator would use to launch their node such as:

elysd start --home $HOME/spn/12 2> elysd.log &

A systemd service can be created to auto-start the elysd service.

Create the new file /etc/systemd/system/elysd.service with this content:

[Unit]
Description=Elysd Service
Wants=network.target
After=network.target

[Service]
Environment=HOME=/home/ubuntu
Type=simple
Restart=on-failure
WorkingDirectory=/home/ubuntu
SyslogIdentifier=elysd.user-daemon
ExecStart=/home/ubuntu/go/bin/elysd start --home spn/12 2>&1
ExecStop=/usr/bin/pkill elysd

[Install]
WantedBy=multi-user.target

Then you can use those commands to enable and start the service:

sudo systemctl enable elysd.service
sudo systemctl start elysd.service

You can check the status of the service at any time using this command:

sudo systemctl status elysd.service

Or follow the service logs by using this command:

sudo journalctl -u elysd.service -f

Architecture

This section contains documentation on the architecture of the Elys chain, including the current design and components of the system.

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Boilerplate Generation

The boilerplate was generated using ignite CLI, which provides a convenient way to generate new chains, modules, messages, and more. The initial modules that are part of the repository include AssetProfile and LiquidityProvider, both of which were generated using the ignite CLI.

AssetProfile requires all changes to go through governance proposals (i.e., adding, updating, or deleting an asset profile entry). Similarly, any modules that expose parameters must require governance proposals to update the module parameters.

Configuration File

The repository also includes a config.yml file, which provides a convenient way to initiate the genesis account, set up a faucet for testnet, define initial validators, and override initial genesis states. Although ignite provides the network layer that allows for easy onboarding of new validators to a chain network, the config.yml file can be used to specify additional configurations.

In the current config.yml file, additional denom metadata has been defined to allow for easy setting of the ELYS amount using any exponent (decimal precision) following the EVMOS good practices. The governance params have also been overridden to reduce the voting period to 20 seconds for local test purposes. Multiple config.yml files can be created for each environment (local, testnet, mainnet) with their specific parameters.

Asset Profile

Add Entry using Gov Proposal

A proposal can be submitted to add one or multiple entries in the asset profile module. The proposal must be in the following format:

{
  "title": "add new entries",
  "description": "add new entries",
  "messages": [
    {
      "@type": "/elys.assetprofile.MsgCreateEntry",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "baseDenom": "mytoken2",
      "decimals": "18",
      "denom": "mytoken",
      "path": "",
      "ibcChannelId": "1",
      "ibcCounterpartyChannelId": "1",
      "displayName": "mytoken",
      "displaySymbol": "mytoken",
      "network": "",
      "address": "",
      "externalSymbol": "mytoken",
      "transferLimit": "",
      "permissions": [],
      "unitDenom": "mytoken",
      "ibcCounterpartyDenom": "mytoken",
      "ibcCounterpartyChainId": "test"
    },
    {
      "@type": "/elys.assetprofile.MsgCreateEntry",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "baseDenom": "mytoken3",
      "decimals": "18",
      "denom": "mytoken",
      "path": "",
      "ibcChannelId": "1",
      "ibcCounterpartyChannelId": "1",
      "displayName": "mytoken",
      "displaySymbol": "mytoken",
      "network": "",
      "address": "",
      "externalSymbol": "mytoken",
      "transferLimit": "",
      "permissions": [],
      "unitDenom": "mytoken",
      "ibcCounterpartyDenom": "mytoken",
      "ibcCounterpartyChainId": "test"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Update Entry using Gov Proposal

A proposal can be submitted to update one or multiple entries in the asset profile module. The proposal must be in the following format:

{
  "title": "update existing entries",
  "description": "update existing entries",
  "messages": [
    {
      "@type": "/elys.assetprofile.MsgUpdateEntry",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "baseDenom": "mytoken2",
      "decimals": "18",
      "denom": "mytoken2",
      "path": "",
      "ibcChannelId": "1",
      "ibcCounterpartyChannelId": "1",
      "displayName": "mytoken2",
      "displaySymbol": "mytoken2",
      "network": "",
      "address": "",
      "externalSymbol": "mytoken2",
      "transferLimit": "",
      "permissions": [],
      "unitDenom": "mytoken2",
      "ibcCounterpartyDenom": "mytoken2",
      "ibcCounterpartyChainId": "test"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Delete Entry using Gov Proposal

A proposal can be submitted to delete one or multiple entries in the asset profile module. The proposal must be in the following format:

{
  "title": "delete entries",
  "description": "delete entries",
  "messages": [
    {
      "@type": "/elys.assetprofile.MsgDeleteEntry",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "baseDenom": "mytoken2"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

CLI to Query List of Entries

To query the list of entries in the asset profile module, use the following command:

elysd q assetprofile list-entry

Tokenomics

Set Genesis Inflation parameters using Gov Proposal

A proposal can be submitted to set the genesis inflation parameters in the tokenomics module. The proposal must be in the following format:

{
  "title": "set new genesis inflation params",
  "description": "set new genesis inflation params",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgUpdateGenesisInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "inflation": {
        "lmRewards": "9999999",
        "icsStakingRewards": "9999999",
        "communityFund": "9999999",
        "strategicReserve": "9999999",
        "teamTokensVested": "9999999"
      },
      "seedVesting": "9999999",
      "strategicSalesVesting": "9999999"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

CLI to Query the Genesis Inflation parameters

To query the gensis inflation parameters in the tokenomics module, use the following command:

elysd q tokenomics show-genesis-inflation

Add Airdrop entry using Gov Proposal

A proposal can be submitted to add one or multiple airdrop entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "add new airdrop entries",
  "description": "add new airdrop entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgCreateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "AtomStakers",
      "amount": "9999999"
    },
    {
      "@type": "/elys.tokenomics.MsgCreateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "RowanStakersLP",
      "amount": "9999999"
    },
    {
      "@type": "/elys.tokenomics.MsgCreateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "Juno",
      "amount": "9999999"
    },
    {
      "@type": "/elys.tokenomics.MsgCreateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "Osmo",
      "amount": "9999999"
    },
    {
      "@type": "/elys.tokenomics.MsgCreateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "Evmos",
      "amount": "9999999"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Update Airdrop entry using Gov Proposal

A proposal can be submitted to update one or multiple airdrop entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "update existing entries",
  "description": "update existing entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgUpdateAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "AtomStakers",
      "amount": "9999999"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Delete Airdrop entry using Gov Proposal

A proposal can be submitted to delete one or multiple airdrop entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "delete airdrop entries",
  "description": "delete airdrop entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgDeleteAirdrop",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "intent": "AtomStakers"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

CLI to Query List of Airdrop entries

To query the list of airdrop entries in the tokenomics module, use the following command:

elysd q tokenomics list-airdrop

Add Time-Based-Inflation entry using Gov Proposal

A proposal can be submitted to add one or multiple time-based-inflation entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "add new time-based-inflation entries",
  "description": "add new time-based-inflation entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgCreateTimeBasedInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "startBlockHeight": "1",
      "endBlockHeight": "6307200",
      "description": "1st Year Inflation",
      "inflation": {
        "lmRewards": "9999999",
        "icsStakingRewards": "9999999",
        "communityFund": "9999999",
        "strategicReserve": "9999999",
        "teamTokensVested": "9999999"
      }
    },
    {
      "@type": "/elys.tokenomics.MsgCreateTimeBasedInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "startBlockHeight": "6307201",
      "endBlockHeight": "6307200",
      "description": "2nd Year Inflation",
      "inflation": {
        "lmRewards": "9999999",
        "icsStakingRewards": "9999999",
        "communityFund": "9999999",
        "strategicReserve": "9999999",
        "teamTokensVested": "9999999"
      }
    },
    {
      "@type": "/elys.tokenomics.MsgCreateTimeBasedInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "startBlockHeight": "12614402",
      "endBlockHeight": "18921602",
      "description": "3rd Year Inflation",
      "inflation": {
        "lmRewards": "9999999",
        "icsStakingRewards": "9999999",
        "communityFund": "9999999",
        "strategicReserve": "9999999",
        "teamTokensVested": "9999999"
      }
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Update Time-Based-Inflation entry using Gov Proposal

A proposal can be submitted to update one or multiple time-based-inflation entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "update existing time-based-inflation entries",
  "description": "update existing time-based-inflation entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgUpdateTimeBasedInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "startBlockHeight": "12614402",
      "endBlockHeight": "18921602",
      "description": "Updated 3rd Year Inflation",
      "inflation": {
        "lmRewards": "9999999",
        "icsStakingRewards": "9999999",
        "communityFund": "9999999",
        "strategicReserve": "9999999",
        "teamTokensVested": "9999999"
      }
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

Delete Time-Based-Inflation entry using Gov Proposal

A proposal can be submitted to delete one or multiple time-based-inflation entries in the tokenomics module. The proposal must be in the following format:

{
  "title": "delete time-based-inflation entries",
  "description": "delete time-based-inflation entries",
  "messages": [
    {
      "@type": "/elys.tokenomics.MsgDeleteTimeBasedInflation",
      "authority": "elys10d07y265gmmuvt4z0w9aw880jnsr700j6z2zm3",
      "startBlockHeight": "12614402",
      "endBlockHeight": "18921602"
    }
  ],
  "deposit": "10000000uelys"
}

To submit a proposal, use the following command:

elysd tx gov submit-proposal /tmp/proposal.json --from walletname --yes

To vote on a proposal, use the following command:

elysd tx gov vote 1 yes --from walletname --yes

CLI to Query List of Time-Based-Inflation entries

To query the list of the time-based-inflation entries in the tokenomics module, use the following command:

elysd q tokenomics list-time-based-inflation

Denom Units

The denom_units property is an array of objects defined in the config.yml file, with each object defining a single denomination unit. Each unit object has three properties - denom, exponent, and aliases.

For the ELYS token, there are three denomination units defined with aliases:

• uelys: This is the base unit of the ELYS token, and has no aliases.

• melys: This unit has an exponent of 3, which means that 1 melys is equal to 1000 uelys. It has one alias - millielys.

• elys: This unit has an exponent of 6, which means that 1 elys is equal to 1,000,000 uelys. It has no aliases.

The aliases for the melys unit are specified as millielys, which is a common prefix used to denote a thousandth of a unit. These aliases can be used interchangeably with the primary unit names in order to make the values more readable and easier to work with.

TestNet Parameters

Here are the definitions and current values of each individual parameter of the Elys TestNet Network as of May 8th, 2023.

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Minting

Defines the rules for automated minting of new tokens. In the current implementation, minting is entirely disabled.

Staking

Defines the rules for staking and delegating tokens in the network. Validators and delegators must lock their tokens for a certain period to participate in consensus and receive rewards. The unbonding_time parameter specifies the duration for which a validator's tokens are locked after they unbond.

• Max_entries: The maximum number of entries in the validator set. Current value: 7.
• Historical_entries: The number of entries to keep in the historical validator set. Current value: 10,000.
• Unbonding_time: The time period for which a validator's tokens are locked after they unbond. Current value: 1,209,600 seconds (equals to 14 days).
• Max_validators: The maximum number of validators that can be active at once. Current value: 100.
• Bond_denom: The denomination used for staking tokens. Current value: uelys`.

Governance

Defines the rules for proposing and voting on changes to the network. To make a proposal, a minimum deposit of ELYS is required. The proposal must then go through a voting process where a certain percentage of bonded tokens must vote, and a certain percentage of those votes must be in favor of the proposal for it to pass.

• Min_deposit: The minimum amount of ELYS required for a proposal to enter voting. Current value: 10 ELYS.
• Max_deposit_period: The maximum period for which deposits can be made for a proposal. Current value: 60.
• `Quorum: The minimum percentage of total bonded tokens that must vote for a proposal to be considered valid. Current value: 33.4%.
• Threshold: The minimum percentage of yes votes required for a proposal to pass. Current value: 50%.
• Veto_threshold: The percentage of no votes required to veto a proposal. Current value: 33.4%.
• Voting_period: The period for which voting on a proposal is open. Current value: 60.

Distribution

Defines the distribution of rewards and fees in the network. Block proposers receive a portion of the block rewards as an incentive to maintain the network. The community_tax parameter specifies the percentage of the rewards that are allocated to a community pool for network development and improvement.

• Community_tax: The percentage of inflation that is allocated to the community pool. Current value: 2%.
• Base_proposer_reward: The base percentage of block rewards given to proposers. Current value: 1%.
• Bonus_proposer_reward: The additional percentage of block rewards given to proposers if they include all valid transactions. Current value: 4%.
• Withdraw_addr_enabled: A boolean flag that indicates whether withdraw addresses are enabled. Current value: true.

Slashing

Defines the penalties for validators who violate the network rules or fail to perform their duties. Validators who sign blocks incorrectly or go offline for too long will be penalized with a percentage of their bonded tokens being slashed. The signed_blocks_window parameter specifies the number of blocks used to determine a validator's uptime percentage, and the min_signed_per_window parameter specifies the minimum percentage of blocks that a validator must sign in each window to avoid being slashed. The downtime_jail_duration parameter specifies the duration for which a validator is jailed if they miss too many blocks.

• Signed_blocks_window: The number of blocks used to determine a validator's uptime percentage. Current value: 30,000.
• Min_signed_per_window: The minimum percentage of blocks that a validator must sign in each window to avoid being slashed. Current value: 5%.
• Downtime_jail_duration: The duration for which a validator is jailed if they miss too many blocks. Current value: 600 seconds.
• Slash_fraction_double_sign: The percentage of a validator's bonded tokens that are slashed if they double sign. Current value: 0.01%.
• Slash_fraction_downtime: The percentage of a validator's bonded tokens that are slashed if they are offline for too long. Current value: 5%.

Release

To release a new version of Elys, create and push a new tag with v prefix. A new draft release with the configured targets will be created.

git tag v0.1
git push origin v0.1

After a draft release is created, make your final changes from the release page and publish it.

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