Rocket Pool Delays Launch After Rival Finds Vulnerability

Eth2 staking provider Rocket Pool postponed its launch after a possible exploit was identified in the protocol code. On October 6, Rocke...



Eth2 staking provider Rocket Pool postponed its launch after a possible exploit was identified in the protocol code.

On October 6, Rocket Pool announced the postponement while the team implements a fix for the bug. Rocket Pool tweeted that “relatively small” changes are needed to address the vulnerability and that a new launch date will be announced soon.

Rocket Pool was alerted to the vulnerability by Dmitri Tsumak, the founder of rival staking provider StakeWise. After Rocket Pool confirmed the bug was valid, both teams informed one another. Eth2 staking project, Lido, that the vulnerability also posed a risk to its protocol.

Lido acknowledged the bug via Twitter on October 5th, to propose a vote to lower staking limits for all node operators in an effort to minimize the risk posed to the protocol. Lido described the potential impact of the exploit as “low”, adding that “the vulnerability can only be exploited by operators of currently whitelisted Lido nodes”.

“A long-term fix is ​​being developed in parallel and more information will be shared when it exits a project stage,” the team added.

StakeWise publicly announced Tsumak’s role in identifying and reporting the possible exploit to rivals, saying, “Even when we are dealing with our competitors, the safer we collectively, the better the ecosystem as a whole. ETH2 staking becomes strong. Rocket Pool also tweeted a pledge to shared network security.

Eth2 staking services

Since the Ether deposited in the Eth2 staking contract cannot be withdrawn until the next merger in the Ethereum chain is completed, many investors have turned to vendors offering liquid staking services. Liquid staking allows tokens representing the value of the staked assets to be used in decentralized finance without requiring the disengagement of the underlying assets. Eth2 staking services also allow users with less than 32 ETH minimum to participate in pools.

Related: Staking on Ethereum 2.0, explained

According to StakingRewards, Eth2 currently ranks as the third largest Proof-of-Stake network with a stake capitalization of $ 27.3 billion despite only 6.55% of the supply being Locked.

On the other hand, more than 70% of the circulating supply of the two largest networks by capital involved has been blocked, with the $ 60.5 billion from Solana (SOL) and $ 51 billion from Cardano (ADA) currently involved representing 77% and 70.5% of the respective circulating supplies of the projects.