Throughout Protocol co-founder Hart Lambur just lately revealed that the community is contemplating a proposal to cap the provision of its ACX token at 1 billion tokens following experiences of a vulnerability in its token contract.
In an Oct. 21 submit on X, Lambur acknowledged that ACX had been wrongly labeled as having a crucial flaw in its ERC-20 token implementation. He acknowledged that the design selection may have been higher however emphasised that the vulnerability claims had been inaccurate.
To strengthen the ACX token mannequin, Lambur proposed a set provide restrict of 1 billion tokens. This alteration wouldn’t require any updates to the ACX sensible contracts and would contain renouncing Throughout Governance’s management over the token. This motion would forestall any future modifications to the token’s provide, whether or not via minting or burning.
The proposal outlined the advantages of this modification:
“This proposal to repair the ACX provide at 1 billion tokens by renouncing contract possession is designed to safe the financial basis of the Throughout ecosystem. We imagine this modification will profit all stakeholders by offering stability and selling development.”
Throughout is a cross-chain token bridge secured by UMA’s optimistic oracle. In line with the protocol’s web site, it has dealt with over 9 million transactions, totaling greater than $12 billion in worth.
Vulnerability issues
Lambur’s proposal surfaced on the identical day that rival interoperability platform LayerZero Labs co-founder Bryan Pellegrino raised issues concerning the ACX token contract.
Pellegrino identified that the community had mistakenly uncovered an inner perform in its ERC-20 token implementation, which may enable tokens to be withdrawn from any pockets. He warned that this vulnerability may allow “rugging” customers, draining accounts to zero.
Pellegrino additionally claimed that the difficulty allowed Throughout Protocol and UMA to mint tokens with out restrict. He urged the protocol to switch possession to a brand new sensible contract that might forestall burning and infinite minting.
Lambur, nonetheless, criticized Pellegrino’s claims, dismissing them as “disingenuous fear-mongering.”