Shiba Inu developers announced that the long-awaited migration to LEASH v2 is set to commence in the coming days. This development follows the approval from security firm Hexens, which has reviewed the new token and migration contract. The confirmation brings to an end months of uncertainty surrounding the previous LEASH token, which was plagued by a hidden flaw in its code that compromised its designed fixed supply.
LEASH was originally promoted as a limited asset, but vulnerabilities within its contract caused operational issues. The previous version included a rebase mechanism that could modify the token’s supply under certain conditions, despite assurances from developers that the keys had been burned. Unbeknownst to many, a control pathway remained accessible, allowing pre-authorized proxies to instigate supply changes. This flaw has its origins in 2020 and was ultimately exploited, which resulted in a 20% increase in token supply earlier this year, significantly undermining the asset’s intended scarcity and investor confidence.
The newly designed LEASH v2 aims to eliminate this loophole permanently. Hexens, recognized for its audits of other platforms such as Polygon zkEVM and LayerZero, meticulously assessed both the LEASH v2 token and its migration system. According to the developers, the revised contract ensures that no new tokens can be minted under any circumstances. The total supply of LEASH v2 has already been fully minted into a multisignature wallet, providing additional security.
As part of the migration process, existing version 1 tokens will either be locked or burned, while version 2 tokens will be released from the multisig wallet in accordance with each holder’s entitlement. The redesign utilizes OpenZeppelin ERC-20 libraries to maintain simplicity and facilitate easy auditing. Future enhancements, including more complex features like privacy layers, are planned to be integrated later through wrappers rather than requiring alterations to the core token.
In related market activity, SHIB prices have decreased by 1% over the past 24 hours, reflecting a generally stagnant trend in the broader cryptocurrency market.
