Cross chain protocol Throughout Protocol challenges ‘fear-mongering’ claims with provide cap initiative

Throughout Protocol co-founder Hart Lambur not too long ago 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 put up 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 alternative might have been higher however emphasised that the vulnerability claims had been inaccurate.

To strengthen the ACX token mannequin, Lambur proposed a hard and fast provide restrict of 1 billion tokens. This transformation 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 by minting or burning.

The proposal outlined the advantages of this alteration:

“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 alteration will profit all stakeholders by offering stability and selling development.”

Throughout is a cross-chain token bridge secured by UMA’s optimistic oracle. In response to the protocol’s web site, it has dealt with over 9 million transactions, totaling greater than $12 billion in worth.

Vulnerability considerations

Lambur’s proposal surfaced on the identical day that rival interoperability platform LayerZero Labs co-founder Bryan Pellegrino raised considerations concerning the ACX token contract.

Pellegrino identified that the community had mistakenly uncovered an inside operate in its ERC-20 token implementation, which might enable tokens to be withdrawn from any pockets. He warned that this vulnerability might allow “rugging” customers, draining accounts to zero.

Pellegrino additionally claimed that the problem 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 may forestall burning and infinite minting.

Lambur, nevertheless, criticized Pellegrino’s claims, dismissing them as “disingenuous fear-mongering.”