Restaking Security: Challenges and Best Practices

Transcript

okay welcome everybody we excited to kick the DSs monthly with one of the most interesting topics in the field of defi before I introduce the moderator let me uh update you on the DSs on the main event which is coming in Bangkok in November so thank you all the 180 submissions we assembled actually a very nice core Review Committee we will try to uh give you answers as soon as possible we want of course to like last year to accept as many workers as possible but we also understand that last year we there were a lot of complain that the schedule was two packed we will try to do the best job in

assembling the the program so for today webin I'm very excited and honored to welcome medie Med is actually leading one of the lead the strongest security company in this space Sigma Prime he's actually contributed Security in all levels starting from the consensus going to the smart contract and I think he's the perect perfect person to lead this webinar uh excited to pass it to you Mary thank you mly thanks for the kind words hey everyone my name is m co-founder and director of Sigma Prime uh we're a blockchain security and research firm doing a lot of security work obviously in the web3 space we're also the founders and maintainers of

Lighthouse the ethereum consensus client free open source written in Rust and responsible for about 30% of the ethereum blocks produced on mainnet today um I'm very excited to be here um this is a topic that has kept Sigma Prime quite busy over the past few months uh reaking security um I'm joined today by two amazing speakers Anto from a labs and alus from symbiotic uh we'll cover a whole bunch of different topics there's um time for questions so please feel free to submit your questions in the chat we'll select the uh most relevant ones and we'll ask them to our panelists um andto do you

want to introduce yourself yeah uh so I'm Anto I'm I'm with Igan Labs I've been with igen LA for almost a year now and I help with all things security so that's me awesome awesome thank you and alus do you want to do the same yeah uh I'm alus I'm co-founder in symbiotic U I have experience in prodal development defi development and security as well so I'm In symbotic from from the start yeah awesome thank you uh so for those of you who have been living in a cave um reaken has kind of Taken defi by a storm uh it's currently um responsible

for about 10 billion dollars just over 10 billion dollars of staked value um and they've gained a lot of traction in the defi space over the past few months um so I'll pass it on to Anto to give us an overview of what reaking is and perhaps some of the particularities that igen Leia um has um used to approach this new topic over to uento awesome uh can you guys hear my see my screen yep amazing okay let's get started so uh as I said I'm Anto I've been with igen Labs uh for the past one

year uh I've been doing security for uh the better part of my career uh previously I was with Bas and uh now I'm doing a bit of protocol security and a bit of web to security at igen labs so we'll walk through what is reaking what is IG layer what is programmable trust and then we'll get into how our smart contracts work and then we'll look at what are the features that we launched in the past six months and then what our security practices so that's that's how I'm structuring this stock okay so what is igen layer so igen layer is a protocol built on ethereum

that inter produces reaking and and it's a new primitive in cryptoeconomic security so we'll dive into what that is so essentially what that means is users can restake and extend trust Beyond ethereum and you will be rewarded for doing so so let's understand what is reaking this is a screen cap from our website it's says reaking enables staked e to be used as cryptoeconomic security for protocols other than ethereum in exchange for protocol fees so that is

how we started but recently we launched permissionless token support now you can restake not just e but any arbitrary erc20 tokens permissionless on I layer and we also have an update to igen pods which is our native staking mechanism on ien lay and I'll explain what that is but what I want to allude to is that it now supports Beacon chain rewards as well so it it is going Beyond just eth on the beacon chain now you can have the beacon chain rewards like me boost

Rewards or something like that and why do we need reaking right like one of the biggest problems in crypto is bootstrapping decentralized infrastructure and reaking is really really good and we' fix this problem of bootstrapping in decentralized infrastructure with programmable trust so what is programmable Trust so we can think of programmable trust as the these three pillars uh there is economic trust that is amount at stake

that is how ethereum works today you put up 32 e and you become part of uh the ethereum 2.0 ridle and decentralized Trust alludes to the geographic diversity of the nodes that participate in the network and then there is the ethereum trust like The ethereum validators Who validate ethereum also opt into validating your network H or you can design mechanisms like proposal commitments uh which which is considered as the ethereum trust pillar so to understand what is reaking

we need to understand what is staking and the the the very basic version of staking that I think we should be familiar with is ethereum staking so what happens with ethereum staking right like stakers put up 32 e it goes to a pending State and then the chain is ready your validator becomes active and it starts validating ethereum tasks so these are rules set by ethereum the protocol that the validator has to has to do and if it if it does its job correctly it gets rewards and if it

doesn't it gets slashed so this is how ethereum works today and these rules are transparent it's written it's part of the core protocol so you just follow the rules and if you don't do anything malaci you are very unlikely to get slashed and when you want to withdraw your collateral you can just exit now now reaking looks very similar so stakers have already put up 32 e to secure the Bea chain right so you can commit this Capital to validate external networks or tasks and get rewarded for that work and you are also subjected to slashing like in ethereum so you already

have this Capital that is committed on the beacon chain so now you can use that to validate other tasks as well with reaking so you don't need to like come up with new capital so this is capital efficient in a way right and you can choose to like validate a bridge be an oracle be a daer or like an entire L2 if you want to now recommitting this Capital into doing this arbitrary task could be considered reaking at least that is my def of freaking now why can't we just put up more money and make this happen right

like why do we need to like reuse Capital if you look at this you have the efficiency you get by pulling Capital it's just so good and when you distribute Capital you lose out on shared security because uh there is a single pot that is securing one task and what is AVS right AVS is a term that we coined it's called actively validated services so this can be like a bridge that is on that is restak this could be like a rollup so any arbitrary tasks uh or services on a restake Network could be called an ABS so if we

were to allocate Capital separately to these abss that is not very Capital efficient so reaking uh with igen lay allows you to secure more abss without splitting up the capital and that improves the security guarantees of the abss itself and these are some examples of what you can build with reaking there is a blog post on blog. layer. XYZ where you can read all about all the various things that people are building this is just a small subset that could fit into

this diagram and let's go a little in depth right uh we've been talking a little high level about reaking but what does it look like so stakers commit their Capital so we support any ERC 20s right now so you could uh you could be using usdc you could be using brbd you could also be using lsts like SD you could also be using native eth because we support that too we have native reaking right so you commit this Capital into the smart contract we can call it the token manager here and then you can delegate

the capital that you have with us to an operator an operator could be something someone like coinbase Bas cloud or a Home Staker right all of them can register with ion layer and will be listed in our UI and in our smart contracts so you can choose to delegate your Capital to an operator and The Operators would run these avss and these avss can be Bridges it can be a daer it could be an oracle so these services are run by operators and now stakers are backing the services that are run by the operator and now you have slashing right

so when an operator does their job correctly all is good you get rewards and that's it but if an operator were to act malicious the slashing contract of that that ABS is responsible for penalizing that operator and taking away funds from that operator so this is more of a deterence like as an ethereum right like there is not a lot of flashing that is going on uh it is because if you act malicious you can lose your collateral so like in the same way operators tend to not act malaci because

there is a penalty of slashing that is really what it is and if you are are interested in in a more uh in a bigger deep dive of our architecture I would really recommend the GitHub link below uh which has detailed uh diagrams and documentation on how our contracts work and uh I'll have a QR code at the end of the presentation which you can just scan and like go to our repositories and like get started and now I want to talk about the various risks and mitigations uh all of us are like Security Professionals here so we worry a lot about risk and how do we mitigate them right like so this is

the juicy part now the biggest risk that we worry about are the smart contract risk like we every day we wake up to like a new smart contract hack in fact even today there was one so what are we doing to like minimize the risk of smart contract hacks so we have a withdrawal delay so there is a 7day delay before any Capital exits igen layer and I will go into detail about what that is we have active monitoring so all our onchain activities are monitored 24/7 and we have redundant systems monit

doing the monitoring in case one of them goes down we have protocol governance much like most defi protocol there is a multisig with many parties in it and I can go deep into that uh we do get security reviews from the best folks in the industry I have a list so we'll see see that later and we internally have a good product security team and we hire the best folks we can uh so if you are interested uh please hit me up after the after this presentation we are still hiring and we also have the best-in-class bug Bounty I believe we have $2 million bug bounty on immuni if

you have a critical bug on IG layer so let's talk about withdrawal delay right so this is a IG layer contracts feature where there's a 7-Day withdrawal delay and we can use this to mitigate any critical security issues that we that we come across or if there was a vulnerability disclosure and we need to mitigate that we can also pause the contracts and do upgrades if need be and uh the KV to the system is that there shouldn't be an issue uh with this logic right like the the potential for a

vulnerability that can bypass the withdrawal delay is really high so we want to make sure that doesn't exist and we do a lot of work to ensure that's the case the second is the risk of a flaw in the code that is managing the request after they have undergone the delay period so that so a withdrawal delay doesn't fix it all we understand that but we try really hard to make sure this there are no exceptions and as I said about monitoring we have invariant monitoring uh which is awesome I recommend everyone do that so when you have protocol invariance you have to enforce it every

block so we do that every block on Main net uh we have this invariant set up with hexag gate and then we run run it per block so even if it is not a malicious transaction but somehow triggers an invariant we know we have done something wrong wrong and we can go fix that and we have an on call system where uh if something were to happen uh on chain we can immediately show up and pause the contracts if need be and we also think about tabletop exercises a lot so we are actually ready to act in case of a real

emergency we also have a multisig based protocol governance and we have the operational multisig a poser and a community multisig and all of this information is available on our docs so I totally recommend and reading that and this is just a visual way of represent representing what these multi are capable of these are actually detailed in our docs so if you are interested I really recommend just visiting docs. .xyz we also have the best we get the reviews from the best in the industry here is a list of all all the uh audits that we have uh that we have done

recently and here is a link to all the audits in our public GitHub repository we also have economic risk right like so reaking is not just about slashing risk it's also about economic risk we have an awesome slashing design that I'm so excited about uh I I've been asked not to spill a lot but uh I I really want to say that this is something brand new and uh we we have been working with our partners and Industry leaders and researchers to come up with this design we iterated over many many designs and arrived at this

new design which has way better trust assumptions uh and I'm so excited to tell you that it will be launching very very soon like uh you can tweet at me if that didn't happen I'm so confident it's happening in maybe in a matter of weeks you know so I'm super excited to like like put the design out there so for Community feedback and uh we also have talked about Stak sh which is the insurance protocol that uh SRI Ram has written a paper about uh so if you are interested in that uh it's it's also a road map item that could help with slashing risk and lrts are a big portion of our economic U sponge maybe because uh it

lrts help us not financialized if you deposit funds directly with igen layer you are not getting a liquid token right but people would like the efficiencies of a liquid token because they could do defi with it uh so having lrts help us not financialized directly and uh that that has huge advantages and we have put out a lot of educational content on blog. .xyz about economic risks this is a evolving discussion and uh now that we have we will have slashing soon there is there is going to be a lot more material and uh we'll be sharing those on our

Twitter and our blogs so this is what I was really talking about when I when I was talking about lrts it really helps us not financialized and it helps us with down markets especially if there is some sort of like a liquidation uh the beacon chain is not really affected because you can deal with it at the lending protocol level where you just liquidate the collateral if if you were to do it with lrts instead instead if I L chose to do it directly it may have a huge impact on the beacon chain right because there might be a lot of withdrawals that the beacon chain may have to process because

people have to repay their loans and all that so that was a very good thing uh yeah so aot is really do help us and we also have abss which is the software that all the operators run and there is a lot of risk around that uh so here I'm talking more about the economic risk there is also the cyber security risk of like running regular software uh with with exploits and all that but uh I'll focus on the slashing risk and we think a lot about anti- slashing like slashing DB if you are a a ethereum Staker you would know what a slashing DB is so we

so something like don't sign on the sign the same block twice which is a very basic rule that you have to follow and that can be enforced by a slashing DB now imagine something like that for abss right so this can also apply to abss so that is something something that we are thinking about and then we we take a lot of inspiration from distributed validator technology which is also really helpful for ethereum stakers these can also be used for abss right and we have put out a developer best practices guide which talks about a lot of these web to risks uh so you can uh as a ABS developer you can really like

use that guide when you develop your software okay so what did we launch recently abss went live on mainnet so if you go to app. .xyz you can see a bunch of abss that you can use today so that is exciting and uh we also launched the foundation uh the igen foundation who who did the igen stake drop so that is also very awesome and uh we launched permissionless token support so we are no longer tied to just ethere and lsds we also further extend the economic security that we can provide to abss with any arbitrary ERC 20s so that that

is awesome and it's up to the abss to like determine if that is an asset that they are interested in uh so the abss can choose to accept usdc uh if they wanted to right so that is possible now and the igen Pod upgrade that I talked about earlier uh that has significantly reduced the gas cost in claiming your rewards uh on I layer earlier our proof system was a little expensive but with checkpoint the checkpoint system that we have so you can have multiple valid validators create one one single proof

and you can uh that Translate to huge gas savings so if you are interested uh hit me up I can send you a link We will we have also tweeted about it so you can find that link there uh to read more about the Pepe upgrade and um as I said slashing it's coming really really soon I'm super excited to talk to you all about it very very soon and uh that that's pretty much it uh so tldr it serves as a platform connecting stakers and infrastructure developers stakers can offer Economic Security stakers have the option to restake their stake and contribute to the security of

the infrastructure while earning rewards through raking IG lay pool security instead of fragmenting it so next steps if you are interested uh you can uh click on these links I'll share the presentation so you can click on this links to like learn more about how you can build on IG layer you can join a hacker on uh you can follow us on Twitter or you can just scan this QR code and get a link to our GitHub that's pretty much it uh thank you over to you m awesome awesome thank you so much Anto this was amazing uh great content and glad we could share the security uh side of what you guys have been cooking uh

with with the audience so thank you much appreciated um alus uh um you're up next um you're going to give us I believe a similar uh introduction to reaking but through the symbiotic lens uh very excited about that as well uh over to you thank you thank you m yeah uh let me share the screen yeah here we go okay so uh let me introduce myself again a bit so I'm I'm founder at symbiotic uh I have kind of wide experience in prodal development from uh

like consens protocols networking databases uh also in defi of building liquid saing protocol protocols uh and security so uh I spent like four or five years in auditing uh in B bounties submitted different bounties and get PID for that yeah uh what's the what's the symbiotic symbiotic is kind general purpose shared security protocal it's not limited by risk taking but uh it have feature as risk taking uh our our goal is to make a like as tin as possible layer that allows

networks uh to get decentralization uh so we are just helping them to bootstrap uh their decentralized Set uh they sta in protocol uh we're building just uh Primitives uh to simplify this process uh uh the main conception of the protocol is to be permissionless uh it's about all aspects uh it's about the tokens it's about the control over the protocol uh Network should have full control over over their staken infrastructure uh and not uh be dependent on third party decisions or external Dow

whatever uh because the Sten is kind of critical part of any network so it's usually uh usually can can lead to uh dis to disaster basically to uh if staing is not operational networks uh ET is not operational or uh if there's a back in Stak in protocol staken can be frozen or stolen or uh if uh there's a back uh in state prodal Network can be compromis it that can lead to as it to be Stone from from the network uh or um or any any any other B stuff so basically uh the staking is a central

part of any protocal consensus depends on staking business logic depends on consensus and staken and also uh usually token also depends on Sten yeah so um uh From networ perspective uh the protocol itself very uh kind of 90% of uh design decisions was uh was uh targeted to make networks uh secure enough uh so basically networks should avoid ex any extra trust assumptions on staking so basically they staking vertical I mean uh uh their stating code their walls their whatever what they

have on on the stating side it should be completely permissionless it should be controlled only by network uh including the upgrades so uh nobody should be able to upgrade their their Stak in protocal including contracts whatever uh functions like slashing like rewards fees Etc shouldn't be also control controlled by anyone uh the second stuff is uh restrictions and Whit list it's more about the the prodal limitations like tokens uh like uh different different staking models so uh they should have flexibility to control uh what kind of

tokens they want to accept uh what kind of uh staking staking system they wants to build so for example uh multi multi-asset staking uh they should be able to uh decide how to reward uh what portion of stake uh where from to receive this stake how how it should be delegated how it should be managed yeah uh to solve uh to solve this uh kind of permission to to make it permissionless we we had to go through a lot of uh a lot of technical challenges um I just listed several of them here but there was a lot uh so basically

um uh when we want to uh stay permissionless that means that we uh we let networks decide over their upgrades over the features Etc while uh we are S as a symbiotics still building uh the core protocol so uh we are just shipping new features we can ship new new features we can add new new new contracts what uh etc etc but we want to uh limit our role uh in in in in networks so uh we need to choose the right decision how how to make the system immutable or upgradable while uh losing the control uh from our side and

leaving networks to decide uh yeah basically uh the second question is to how to avoid dependences uh basically uh it's about the single point of failure or centralization uh around some decisions like slashing like bowsing uh whatever we don't want to networks be correlated with each other uh they uh their security aspect should be isolated so basically if one protocol decided to post or or slash prodical shouldn't be uh affected or uh or like or POS POS it as well uh the third

one is uh so when we try to build uh permission system with a lot of lot of a lot of different contracts we realized that it's kind of very expensive and we had to decide and find find a way how to keep it cheap uh while having the flexibility because flexibility that means that we should uh Implement a lot of features uh a lot of features uh means that we have a lot of code uh that should be shipped uh to to to to cbard uh that means that we have like uh some issues with gas Etc so the solution was kind of simple uh from current perspective but it was hard to hard to

find it uh in terms of upgrades we have introduced new new pattern uh which is migratable uh I will I will I will highlight a bit later uh in order to keep the flexibility we introduce it mod modularity uh it's kind of very old concept but it simp simply allows us to uh keep internal interfaces and internal AI like API between the models and Abstract a particular implementation of like Slasher delegator what whatever uh it allows us to ship new new models uh in future it allows to uh to networks to

uh to lerts to stakers to operators to choose uh what particular model they want to use what particular implementation of what particular model that they want to use uh that saves the guess in terms of the size of bite code Etc because they're using particular model uh that doesn't have uh doesn't have parasite code that doesn't affect it and related to this particular uh delegation taking uh strategy yeah uh it's about migratable so uh basically we have uh we had two concepts immutable and upgradable uh

immutable contract is um very good but they have some limitations uh it's uh it's not really easy to add new features uh it's not uh really uh it's it's not really um easy to uh to ship new versions that's not just simple features but if we wants to like introduce new new new version uh it will mostly in in most cases it will require some immigration of funds like similarly with Unis swap or other protocols uh that they have uh immutable contracts another concept uh in opposite is upgradable uh so basically if you

have upgradable contracts it's much more easier to uh to upgrade it uh we can introduce as many features as we can uh it doesn't require migration of funds in most cases but it dependent uh from from some external Dow for example symbotic Dow if they exist a future or or some M or some committees because we have as we have single place single like uh entity that controls sub grades basically uh we don't we we definitely want to avoid that because as we mentioned before staking is critical part so uh no nobody

wants to be dependent on external prodical uh too much so that's why we uh came to migratable uh it's the combination of utable and upgradeable technically it's more like upgradeable but the upgrade Pipeline and upgrade pass is strictly um strict the upgrade pass is immutable so basically we have Factory that forbids us to upgrade uh contracts uh that was already deployed before uh the only thing that we can do from from prodical side is to propose new versions when we propos propos new versions uh uh kind of owners of uh previous

implementations can decide grade to new version or not so for example like we ship version two and and just add it to the factory and everyone can decide to deploy version two if they had already version one they can decide to uh upgrade to version two we predefined upgrade pass so they can be ensured that that uh their storage and everything uh will be migrated uh perfectly but they can still uh stay on the version one if they if they want and also they still can deploy version one even if we have version two so so they have full choice and full control over

which version they want to uh operate yeah uh the second aspect uh that we have uh in a core protocol is uh modularity uh basically uh in in very very high level we we have three different types of contracts uh the first one that they already uh mentioned is migratable uh the only contract that we have migratable is VA uh the second the second like logical uh uh need of contract is models uh it's slasher delator currently and we also have some common immutable cont contct like

services and Registries for example Network registry operator registry opin Services uh Etc uh that's basically briefly uh uh if we say about the world is basically the key entry point and connecting um connecting entity contract that basically connect each model uh which is each other so basically a v uh determine which kind of slasher they want to use which kind of delegator they want to use and uh it connect with services and registers in order to verify that uh okay network is registered or operator regist it or uh

they had Ops uh in order to receive state yeah uh a little bit deeper about the models so basically currently we have two two two contracts uh as a as as a moduls uh the first one is slasher and the second one is delegator uh uh the uh the reason behind why we introduc it models was because we have different kind of uh SL systems we have different kind of Delegation systems and uh we uh understand that in the future uh it's possible to have more more more

different like models uh in this regard so that's why currently we have just only uh two implementations for each model so for uh for slasher we have SIMPLE slasher that basically uh very simple version of slasher that only check that okay operator was uh uh was able to be slashed at some point uh uh that was opted in network was opted in uh W uh committed some amount of amount of amount of collateral and slasher just executed this request uh the second one is V slasher uh V slasher is much more

complicated uh uh it introduce some Ving uh V logic so basically one SL request is uh is accepted uh V2 slasher allows uh allows to predefine its resolver to V2 the slash request uh during the predefining predefined amount of time uh yeah so that's kind of very simple concept that allows to uh networks and ws and operators to consensually decide uh which kind of resolver they want to use it can be automated resolver for example smart

contract that really they Pro or something it can be commit still it can be some da or I don't know or some external like third party entity uh about the delegators uh we also have two versions uh the first version nwork rate delegator is kind of a default solution uh that's kind that we propos to networks and walls to use uh it allows to restake uh orake the assets collateral across different networks while forbidding it to be restated uh within the same network uh so just to avoid the risk

when your operator like you have to operators within the same network and they have both restake collateral so when you slash one operator the second one get slashed automatically once to avoid that uh in most cases that's why we have like uh default Network state delegator the second one for State delegator doesn't have such an invariant so basically if you use that delegator you can have easily you can easily have um restake operators within the same network uh restake operators restated networks um acoss like different networks uh the use cases are wise so we basically um you can have insurance

system so basically uh you can uh you can create fun that uh that have for staing that covers like different operators and in case of slashing you first slash uh Slash this W then just uh uh by order uh you can you can go to you can go to normal W yeah um uh networks so uh as I mentioned before uh symbiotic is kind of very very uh tiny level uh layer of uh between the stakers between the operators and

networks so that means that networks uh should be uh aware of uh aware of trade-offs uh and aware of uh potential security issues uh there is no there is no middleware there is no entity or d uh that controls aspects of they are staking uh the only the only entity the only uh like participant who should care about the security of the network security and the stake in vertical security is the network uh so that's why uh Network should uh uh run to like comprehensive uh onboarding process uh

in terms of the vs that they wants to receive uh as as as a staing source or collateral that they wants to receive as a as a collateral so basically uh collateral can have different uh trust assumptions especially if it's a Bridget asset or some sort of uh some sort of uh obligation based asset for example it's native staking it's it's obligation over native state Ease on the bacon chain or obligation over Stak uh token in some like I don't know other other Cosmos like Cosmos uh Cosmos chain

uh uh additionally they need to uh diversify like stake sources uh our design is uh our design supports Network and incentivize networks to use uh different sorts of stake uh that means that they can have different WS uh with different rules for example with different delegators with different risk taking ratio with different networks with different operators so the best practice here is to maintain uh good uh good diversification across the walls in order to maintain your like desirable Target restak ratio so for example if

one world have a 100 network is like restake networks and another will have 10 10 restake networks uh you you can choose what what amount of restake networks it's perfect for you because when you have too much restake networks you have more risks uh that your kind of security can be affected by a networks so you have full flexibility in choosing like uh what amount you need what amount of rati you need you even can have uh your own VA when you forbid uh networks uh to be restak uh so basically uh simp Artic as I mentioned before is not only risk taking it's like

sh security protocal uh in general uh that means that you can build your staking vertical not reaking and combine restak with staking and vice versa uh yep so uh the networks are basically the only entity who should care about it uh we do have best practices we're continuously working on improving the security and make networks aware of any aspect of security that they need to care about but uh everybody should understand this very like simple St yeah uh and a little bit about

symbiotic security so basically uh we went through a long way uh from like a first version of uh specification uh to final code uh this is our like the story how we get uh how how we get there now uh the first thing that we did uh we never start writing the code and trying to implement uh complicated stuff uh rather than that we have uh practice when we simulate code before implemented implementing it uh in solidity so basically we use Python we use different techniques we use different fing

techniques uh to implement like model uh not the implementation of contracts but the model uh that supposed to be uh implemented in future uh we had more than five different like models and we tested it simulated it in Python that which is much more faster in prototyping and testing um there is no external like extra extra extra layers of virtual machine give if you're in virtual machine we don't need to run it and that's much more simple uh the Second Step that we had this internal

review and plus uh One external audit on on the first uh very very first version of the code uh the reason behind that was to polish the code because of course the first version can have like simple BS uh some uh l spots Etc uh that's that was very helpful uh then of course test coverage that's like uh that's like very simple uh and then we got uh four audits from different teams including uh seror uh this formal

verification uh two uh two out of four audits are in progress and they finishing I think within a week or two weeks uh depends and in parallel we have currently devet testing so basically that's fully fully uh fully seted up environment uh in heski uh everybody can can uh integrate with that everybody can play with that uh if you're interested you can open our ducks and there's a links to our deployment you can find uh the the whole system like including uh slashing including different delegation

models including walls including everything so basically the whole system is deployed on ales now right now uh you can check the code uh code is also open uh yeah the something that we prepared uh before the launch and it's to be announced it soon uh and after the launch uh like in parallel we launch uh this launch of course we'll have like uh monitoring big bount which is like standard currently nobody should launch without uh without those so yeah uh thank you awesome thank you alus this was

great thank you thank you so much uh and yeah just uh second thing what you just said no one should ever ever launch without a live book Bounty program um we have about 10 minutes for questions um we're lucky to get a couple of questions from the chat so I'll start with those first one is for you Anto um you may have seen the question already but I'll repeat it for everyone else uh only with huge Capital like 32 e can we contribute in the reaking space or is it possible with smaller capital okay so the 32 e example was all about running an ethereum validator uh you can restake with $ if you like uh as in if

you have hold an lstd that is worth $1 probably that wouldn't be enough for the gas but you can try send it uh so we we do not have a minimum Capital limit uh but uh the 32 e is is a ethereum enforced number uh that you need to run a validator awesome and we've got another question for you uh is Insurance provided by igen layer or by external services so this is a research paper that sham put out uh so if you Google Stak sh you can read it it is an in protocol mechanism so if you are a Staker you will be able to buy insurance

uh against slashing that is the T ldr but it's a very detailed paper and it is on our road map to implement the very specifics we would we wouldn't know so it it's it takes a lot to go from paper to like code but I really suggest them reading the paper awesome awesome I'm sure our audience will do just that um a couple of questions for alus um it's fascinating hearing you speak about the migratable um pattern that you guys came up with and I had a question around U the ability to yank specific versions so obviously allowing you to my grade and upgrade with the protocol is great but

what happens if there's a known bug in a live version do you guys have the ability to stop that version from being used by any user no okay H that's very short answer but yeah so basically wanted to keep uh the control over every aspect including the p uh to owner because yeah the owners can stop their their vault but we cannot stop every Vault and like it's a completely uh thing that we wanted to avoid that makes sense thank you uh followup question for you uh alus uh we

got a bit of time so might as well um great hearing you talk about the various security initiatives that you undertake um at symbiotic to keep your uh protocol safe and your user safe uh I was wondering if you could potentially um extend a little bit on the offchain security um best practices that you guys must be following so anything related to web 2 security um I'm sure some of our um audience may be thrill to hear about that yeah so basically in terms of web TR security uh if are talking about symbiotic itself uh we're trying to keep our D app as pure as possible like it's

front end and like blockchain uh we have very we do have very very tiny back end that is basically uh basically uh indexing the the stuff and from from from blockchain that but we also have the pure D so basically the security uh is like it's very this this pass is very transparent uh we have security to deliver uh like to secure our delivery pipeline of front end but we don't need to have security and like extensive Security on the back end because we don't have any sensitive data there so

yeah thank you that makes a lot of sense um back to ano um you've mentioned the upgrade allowing I layer to support any ec20 token and not just um liquid staking tokens or native eth um would you be able to walk us through some of the risks involved with that upgrade um we can sense that you're um enhancing your attack surface obviously by supporting other collateral but um perhaps you can walk us through um the design process when it comes to user Safety and Security um that you guys had to I'm sure go through for this

upgrade yeah um in fact I just made a PR today to update our risk documentation you know Beau yeah yeah so I Was preparing slides for this and I was like okay we need to say something more on the risk FK FAQ so you should actually check this okay I will so so uh earlier we we determined what assets are good assets can you use for reaking right like it would be lsds and natv now you can uh choose any erc20 but that comes with certain risk

earlier I didn't accept lrps so those are liquid reaking tokens right so what what is what are liquid reaking tokens U if you would like to get a liquid token when you natively restake that is what an LRT is so you would go with protocols like ethery or swell so they run ethereum validators for you and then they have their withdrawal credential on an igen pod so what that allows them to do is pull capital and give you a liquid token that

you can use in defi right so that's very efficient so but we do not accept lrts as collateral on IG L but because we can write smart contracts someone could wrap an LRT on an erc20 and then choose to deposit that on IG lay right so now we we are kind of double counting right so now the risk has shifted uh and avss who accept these collateral has to determine what are the tokens they are interested in and what are their risk parameters you you could choose to do very risky things but that is up to the

ABS we as a protocol do not make that determination for you you should as an AVS know what are the tokens that are backing your Economic Security as so we are all doing shared security Now reaking is how we got started but now we accept arbitary ERC 20s so anything of economic value can provide Economic Security to your abs awesome awesome thanks for the comprehensive answer um we have one more question from YouTube um Ando could you just repeat the name of the research paper you mentioned yeah it's stake sh s

a k s u a I'll just type that in the chat so they can Google it I'll also sure yeah go check post the link to that tweet from Sri Ram so awesome yeah thank you appreciate it um I believe we are running out of time I could keep asking this gentleman a lot more questions but it'll have to be for another time um thank you all so so much for coming in today preparing those great slides and walking us through uh your respective um reaking protocols um I just wondering if I should pass it

up to anyone uh for some final words cool thank you everyone thank you m and Anto and alus I have a few DSS announcements just reiterating in case you missed it this year we're continuing the tradition of Dy 101 the defy security Summit includes a lot of cutting edge material of the latest um of the latest involvements in security um but Dy 101 is getting us something back to the basics so if you're a new person to security or you want to sharpen your skills that's the event for you uh it's cheaper than just attending DSS if you already have a

ticket for defi security Summit this is in included it's going to be on November 7th that's the first day of the conference uh we're continuing this tradition from the last two years it was very successful and I encourage you all to come and also in case you've missed that too the speaking applications have been closed in the last few days and we are working on reviewing the submissions so expect to hear about the speakers in DSS in the next following weeks thank you everyone awesome thanks all hope to see most of you in Thailand at the defi security

Summit thank you thanks a lot guys thank you guys bye