Context

One of the biggest hurdles for new Injective users is the concept of bank and subaccount. Specifically, once a new Injective retail user landed on an Exchange dApp such as Helix, the user may drop off because he/she does not realise the requirement of transferring funds into subaccount before placing his/her first order.

In the upcoming chain upgrade (v1.10), changes will be made so that bank balances can be used to trade. This means that the user does not have to manage the default subaccount deposits anymore. Note that the concept of subaccount has not changed - orders and positions will still be associated with the user’s default or non-default subaccount.

https://embed.notionlytics.com/wt/ZXlKd1lXZGxTV1FpT2lJNFlqUXlNbVkzWW1Wak5tTTBZMkZqT1RZME5UbGtOVFU0WlRreE4ySTJaQ0lzSW5kdmNtdHpjR0ZqWlZSeVlXTnJaWEpKWkNJNkluRnNSVmRWZUhCNWNFRktZM2htY1dkaWVWUlVJbjA9

Changes

Key concepts:

1. Bank balances can be drawn by the default subaccount to place orders

   • For trades originating from a user’s default subaccountID (i.e. subaccount 0), funds will be now be drawn from the bank balance, not the default subaccount balance.
   • Trades originating from non-default subaccountIDs would occur as normal, and only use their corresponding subaccount balances.

2. Deposits to the default subaccount will be automatically credited to the bank balance

   • No changes to non-default subaccountIDs.
   • This means default subaccount will not have any available balance*. This change does not apply to the non-default subaccounts, which means they can still have a positive available balance.
   • Margin held (i.e. balance in the “in order” or “in position” states) remain in the default and non-default subaccounts.

   *See below regarding dust amount

Implications:

• Order placements
  • No difference in terms when placing orders, since subaccounts are still used to place orders.
    • However, you may notice a modest increase in gas consumption when trading from the default subaccount (due to the extra computation required to transfer funds from the bank balance to the exchange). If this extra gas is of concern to you, you can still use the non-default subaccounts for trading.
  • However, if the user is placing orders using the default subaccount, then the user must now check whether his/her bank balance has enough available balance instead.
• Balance tracking ⚠️ ATTENTION REQUIRED
  • The existing unary and stream gPRC calls for subaccount balances (through the subaccountBalance or streamSubaccountBalance endpoints) still work.
  • However, there is a new unary gPRC call (through accountPortfolio endpoint) and stream gPRC call (through streamAccountPortfolio) which users can use to get both the bank and subaccount balances in one go.
  • **accountPortfolio endpoint params**
  • **StreamAccountPortfolio endpoint params**

Packages:

• SDK Python
  • Package version v0.6.0.7
  • AccountPortfolio example - https://api.injective.exchange/?python#injectiveportfoliorpc-accountportfolio
  • StreamAccountPortfolio example - https://api.injective.exchange/?python#injectiveportfoliorpc-streamaccountportfolio
• SDK Go
  • Package version v1.45.5
  • AccountPortfolio example - https://api.injective.exchange/?go#injectivederivativeexchangerpc-orderbook
  • StreamAccountPortfolio example - https://api.injective.exchange/?go#injectiveportfoliorpc-streamaccountportfolio
• Injective-ts
  • The following methods are added to use the new account portfolio endpoints
    • IndexerGrpcAccountPortfolioApi - https://github.com/InjectiveLabs/injective-ts/blob/master/packages/sdk-ts/src/client/indexer/grpc/IndexerGrpcPortfolioApi.ts
    • IndexerGrpcAccountPortfolioStream - https://github.com/InjectiveLabs/injective-ts/blob/master/packages/sdk-ts/src/client/indexer/grpc_stream/IndexerGrpcAccountPortfolioStream.ts
• Injective-dex
  • The dev branch has been updated with changes required to use the new account portfolio endpoints to fetch balances
  • After the mainnet upgrade, master branch will be updated too

Migration

During the v1.10 mainnet upgrade, all of the available balances in the default subaccount will be transferred to the bank balance. Margin held will remain in default subaccount.

Timeline

• Testnet will be upgraded on 20 Feb 2023
• Mainnet will be upgraded around 14-17 March 2023, subject to governance approval