Cross chain protocol Across Protocol challenges ‘fear-mongering’ claims with supply cap initiative
Wicked chain protocol Across Protocol challenges ‘scare-mongering’ claims with provide cap initiative
LayerZero Labs co-founder Bryan Pellegrino had raised concerns about vulnerabilities in the ACX token contract.
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Across Protocol co-founder Hart Lambur no longer too long ago printed that the community is pondering a proposal to cap the provide of its ACX token at 1 billion tokens following reviews of a vulnerability in its token contract.
In an Oct. 21 put up on X, Lambur said that ACX had been wrongly labeled as having a serious flaw in its ERC-20 token implementation. He acknowledged that the originate quite a lot of will were higher but emphasised that the vulnerability claims were wrong.
To purple meat up the ACX token mannequin, Lambur proposed a fastened provide restrict of 1 billion tokens. This swap would no longer require any updates to the ACX trim contracts and would involve renouncing Across Governance’s lend a hand watch over over the token. This action would prevent any future modifications to the token’s provide, whether or no longer thru minting or burning.
The proposal outlined the advantages of this swap:
“This proposal to repair the ACX provide at 1 billion tokens by renouncing contract ownership is designed to accurate the industrial foundation of the Across ecosystem. We explain this swap will encourage all stakeholders by providing steadiness and promoting boost.”
Across is a nasty-chain token bridge secured by UMA’s optimistic oracle. In response to the protocol’s web page, it has dealt with over 9 million transactions, totaling bigger than $12 billion in tag.
Vulnerability concerns
Lambur’s proposal surfaced on the identical day that rival interoperability platform LayerZero Labs co-founder Bryan Pellegrino raised concerns about the ACX token contract.
Pellegrino pointed out that the community had mistakenly uncovered an interior characteristic in its ERC-20 token implementation, which could well perhaps allow tokens to be withdrawn from any wallet. He warned that this vulnerability could well perhaps enable “rugging” users, draining accounts to zero.
Pellegrino additionally claimed that the topic allowed Across Protocol and UMA to mint tokens without restrict. He urged the protocol to switch ownership to a peculiar trim contract that will well prevent burning and countless minting.
Lambur, on the quite a lot of hand, criticized Pellegrino’s claims, dismissing them as “disingenuous scare-mongering.”
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's doable. He imparts insights on a differ of subject matters cherish DeFi, hacks, mining and culture, underlining transformative energy.
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