Shiba Inu builders stated on Tuesday the long-delayed LEASH v2 migration will start within the coming days after safety agency Hexens signed off on the brand new token and its migration contract.
The approval closes months of uncertainty attributable to a hidden flaw within the unique LEASH code that undermined its fixed-supply design, because the group had earlier famous.
LEASH was initially marketed as a scarce asset. Nevertheless, the contract included a rebase mechanism that would alter provide beneath sure circumstances, even after builders claimed the keys had been burned.
The contract retained a “hidden-in-plain-sight” management path, with pre-authorized proxies nonetheless capable of set off provide adjustments. The flaw dated again to 2020 and was ultimately exploited, eroding confidence in what was purported to be a hard-capped token – inflicting a 20% bounce in token provide earlier this yr.
The brand new model is meant to shut that loophole completely. Hexens, identified for audits of Polygon zkEVM and LayerZero, examined each the LEASH v2 token and its migration system.
Builders stated the contract can not mint new tokens beneath any circumstances following the brand new fixes, and that the complete provide of v2 has already been minted right into a multisignature pockets.
Throughout migration, v1 tokens can be locked or burned whereas v2 tokens are launched from the multisig in proportion to every holder’s entitlement.
The redesign relies on OpenZeppelin ERC-20 libraries to maintain the token easy and auditable. Any superior options, similar to privateness layers, can be added later by means of wrappers slightly than adjustments to the bottom token.
SHIB costs are down 1% over the previous 24 hours, in keeping with a flat broader crypto market
