Staking Contract Emergency Pause

We have an important update to share regarding the BabelFish staking contract. As some of you might already know, a vulnerability was discovered in Sovryn’s Bitocracy, which has led to the decision to pause their staking contract as a precautionary measure. As BabelFish uses a fork of Sovryn’s Bitocracy, which was recently updated to the version used by Sovryn (BIP-0004), the BabelFish Multisig has also chosen to pause BabelFish’s staking contract. We are actively collaborating with the Sovryn team to address this issue promptly.

The vulnerability that has been identified allows an attacker to revert voting power from a delegate to the delegator. It is important to note that while this vulnerability does not grant any voting power to the attacker, it could potentially cause inconvenience for the victim of such an attack.

We understand that this pause comes at an inconvenient time, especially considering that we had planned to conduct a second vote on the Emergency Deposit Pause Feature and Balancing Curves next week. These two features hold significant importance for the development of our protocol. However, we remain hopeful that a swift resolution can be implemented, allowing us to proceed with the scheduled vote as intended.

Rest assured that our teams are working diligently to rectify the situation. We appreciate your patience and understanding during this process. We understand the impact this vulnerability may have on our community, and we are committed to keeping you informed about any further updates regarding the resolution of this issue and the resumption of our staking contract.

Please stay tuned for more information soon!