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Across proposes to permanently cap the supply of ACX tokens at 1 billion to prevent minting or burning

Across proposes to permanently cap the supply of ACX tokens at 1 billion to prevent minting or burning

CointimeCointime2024/10/22 11:27
By:Cointime

Hart Lambur, co-founder of Across Protocol, proposed to permanently set the supply limit of ACX tokens to 1 billion. If this proposal is approved by the community, Across Governance will give up ownership control of ACX tokens and set it to the 0x0 address to prevent any future minting or burning of tokens. Currently, the proposal is undergoing a temperature check vote with a support rate of up to 99.5%.

Previously reported, Bryan Pellegrino, CEO of LayerZero, wrote to the Across Protocol team on social media that there is a critical issue in their token contract, which incorrectly exposed a function that was originally intended to be an internal private function. This function was written by Open Zeppelin in its ERC20 token implementation, designed to burn tokens, and gave it to the contract owner - allowing them to withdraw tokens from any wallet at any time and arbitrarily set the balance of any account to 0. In addition, both Across Protocol and UMA Protocol contracts have the ability to mint unlimited tokens.

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