Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous group (DAO) governance, in line with an Aug. 17 announcement from LiFi analysis lead Arjun Chand. If applied by decentralized exchanges, lending apps, and different Web3 protocols, the brand new aggregator ought to assist stop governance assaults that originate from cross-chain bridges, in line with the aggregator’s documentation.
The announcement comes after a vigorous debate over bridge safety on the Uniswap boards in late January and early February, concluding that no single bridge has all of the security measures needed for safe governance.
For months, @lifiprotocol has labored intently with @UniswapFND to develop Multi-Message Aggregation (MMA), an additive safety module for cross-chain messaging.
This is why we consider MMA could possibly be a future-proof resolution for various cross-chain messaging wants! pic.twitter.com/w34g3ZUNfi
— Arjun | LI.FI (@arjunnchand) August 17, 2023
Crypto alternate Uniswap is ruled by a decentralized autonomous group referred to as UniswapDAO. In January, this DAO started discussing deploying a second copy of Uniswap to BNB Chain. This opened the query of how Uniswap can be ruled on multiple chain since, beforehand, all votes had been taken on the Ethereum community. On Jan. 24, the DAO voted to deploy a second copy of Uniswap to BNB Chain and to make use of bridging protocol Celer to ship messages from BNB to Ethereum.
Though this proposal handed, controversy erupted virtually instantly over the selection of Celer bridge because the technique of sending messages. Some DAO contributors feared that Celer was not safe sufficient to stop cross-chain governance assaults. As a substitute, they really useful Wormhole, LayerZero, or DeBridge be used. Different contributors defended Celer as the proper alternative.
On Jan. 31, the DAO held a second vote on which bridge must be used for governance. Wormhole received the vote and was chosen because the official bridge for governance.
UniswapDAO proposal for cross-chain governance. Supply: Uniswap.
Regardless of this win for Wormhole, the referendum was contentious. Solely 62% of UNI tokens had been used to forged “sure” votes. In contrast, many UniswapDAO proposals acquired practically unanimous votes for or towards.
Within the debate main as much as the vote, many contributors concluded that Uniswap ought to use a number of bridges as a substitute of only one. This fashion, if one bridge grew to become hacked, the opposite bridges would reject the malicious messages despatched by it, and the assault can be prevented. Nevertheless, no multi-bridge resolution was out there on the time. Therefore, the proposal’s supporters argued that Wormhole must be used till a multi-bridge resolution could possibly be created.
Associated: Token hoarders defeat the aim of most DAOs: Research
Within the Aug. 18 announcement from LiFi, Chand mentioned the crew’s new bridge aggregator would offer “a future-proof resolution for various cross-chain messaging wants,” stopping protocols sooner or later from needing to depend on a single bridge for governance messages.
In response to the aggregator’s paperwork, protocols can use LiFi to require that votes be confirmed on two out of three bridges to be legitimate. For instance, if one bridge says {that a} DAO token holder voted “sure,” however the two different bridges say that they voted “no,” the “sure” vote will probably be confirmed. The aggregator will also be configured to make use of three out of 5 bridges or every other ratio the DAO desires.
LiFi bridge aggregator design diagram. Supply: LiFi.
LiFI isn’t the one crew to create a multi-bridge aggregator for DAO governance. Gnosis launched an identical protocol referred to as “Hashi” in March.
In June, a UniswapDAO committee claimed that Hashi was “not but production-ready,” had pending audits and didn’t have a bug bounty. Due to this fact, the committee concluded that it was unsuitable to deal with DAO governance.
The LiFi aggregator has additionally not been audited. Chand claimed in his announcement that “quickly, we’ll broaden its testing and submit it for an audit by Path of Bits.”
