Eth2 staking provider Rocket Pool postponed its launch after a potential exploit was identified in the code of the protocol.
On October 6th, Rocket Pool announced the move while the team implemented a fix for the bug. Rocket Pool tweeted that “relatively minor” changes would be required to address the vulnerability and that a new launch date would be announced shortly.
1 / Yesterday our bug bounty program helped uncover an exploit that also affected other staking providers. So we’re postponing the launch to implement a fix.
We’d like to express our warmest thanks to @tsudmi for triggering the exploit.
– Rocket Pool (@Rocket_Pool) October 5, 2021
Rocket Pool was made aware of the vulnerability by Dmitri Tsumak, founder of competing staking provider StakeWise, as well.
Lido confirmed the bug on October 5 via Twitter and proposed a vote to lower staking limits for all node operators to minimize the risk to the protocol. Lido described the potential impact of the exploit as “minor” and added that “the vulnerability can only be exploited by the Lido node operators currently on the whitelist”.
“In parallel, a long-term solution will be developed and more information will be shared when the design phase is over,” added the team.
StakeWise publicly announced Tsumak’s role in identifying and reporting the potential exploit to its rivals, claiming, “Even when dealing with our competitors, the safer we are collectively, the stronger the entire ETH2 staking ecosystem becomes.” Rocket Pool also tweeted a commitment to shared network security.
5 / At StakeWise, we believe that the safer we are together, the stronger the entire # ETH2 staking ecosystem, even as we deal with our competitors. To do this, we need to communicate and look each other in the back.
– StakeWise (@stakewise_io) October 5, 2021
Eth2 staking services
Since ethers deposited into the Eth2 staking contract cannot be withdrawn until the upcoming chain merger of Ethereum is completed, many investors have turned to providers offering liquid staking services. Liquid staking enables tokens representing the value of the staked assets to be used in decentralized funding without the need to take down the underlying assets. Eth2 staking services also allow users with less than the minimum of 32 ETH to play in pools.
Related: Staking on Ethereum 2.0, explained
According to StakingRewards, Eth2 is currently the third largest proof-of-stake network with a put capitalization of $ 27.3 billion, even though only 6.55% of the supply is blocked.
In contrast, more than 70% of the circulating supply of the two largest networks has been blocked by put capital, with Solana (SOL) valued at $ 60.5 billion and Cardano (ADA) valued at $ 51 billion currently 77 %, or $ 70.5 billion, account for% of the projects’ respective circulating supplies.