Quantumplation | Pi Lanningham

Below you will find my write-up as an independent after action report for the issue impacting Cardano late last week, along with things I learned, why I was impressed, and what I think we can do better at in the future. I try to strike the balance between confronting the seriousness of the issue, while defusing most of the over-stated positions from talking heads on Twitter. This is an adult conversation, not whatever the children are engaging in on Twitter this week. I don't think it's productive to get into debates of what constitutes "downtime" or not; Instead, I tried to equip you with a framework where you, dear reader, can think about these things for yourself, and decide what you want to call it. I just ask that you make that decision for yourself, or allow your audience to do so, rather than parroting some pre-decided talking points. More informed discussion leads to a higher quality industry overall. 314pool.com/post/cardano-p…

@earncoinpool @invalid_eutxo provided you mint at least one*

@invalid_eutxo The min fee is set to 170 ADA. If you have 0 pledge and 0 margin no matter how many blocks you mint in a epoch your rewards are 170. Total per block rewards are about 300 ADA so if you have a margin it's that margin x 300 per block

Gm all… Stake pool operators.. Tell me, in any given epoch, with zero pledge, minfee at 175ada and 0% margin how much ADA do you earn if you mint: 1block 10blocks 40 blocks.

Part of this comes down to how you measure "TPS", since transactions can be different sizes; Part of it also comes down to what assumptions you make about safety margins etc; 1k TPS is the "safe" assumption, and what the Musashi Dojo is going to try to demonstrate; I *believe* simulation results show that, under certain conditions, 3k TPS is the *upper-bound*, and it's hard to push it much further beyond that. But honestly, I was quoting off the top of my head, so that also may be out of date / misremembered.

@Cardanians_io Will the Leios speed be 1k tps or 3k tps? I don't understand.

Pi Lanningham, CTO of Sundae Labs, says: "Going from 18 TPS to 3,000 TPS is such a monumental step up." "3,000 TPS is already in the ballpark of what even the highest throughput chains do in their steady state." Looking forward to Leios 👀

@mattpiz @realfi_co We considered this and similar designs and it doesn't work, for the reasons you said and more.

@realfi_co Yield will most likely come from offchain sources anyway, so they might as well have had users sign a message with their stake key registering their USDr for staking rewards. This way it would have taken advantage of Cardano dual spend/stake keys system.

The @realfi_co Testnet is officially live – Phase 1 starts now. If you've been following what we're building – a stablecoin ecosystem designed to connect on-chain capital to real-world credit markets, not circular incentives – this is your first chance to get hands-on with the protocol. Phase 1 opens three actions in the test environment: 🔄 Swap: Between supported test digital assets and test USDr. 📥 Stake: Stake test USDr for test sUSDr, its efficiency layer. 📤 Unstake: Move back to test USDr. This isn't just a demo. It's a deliberate part of how we build. Most stablecoins leave capital sitting still. RealFi is built to change that by bringing real-world economic exposure on-chain with the speed and security of modern blockchain infrastructure. More details on the participation and rewards structure will follow through official RealFi channels. Get started 👇 preprod.realfi.co/?utm_source=tw… We're excited to have you testing with us. The RealFi Team

@adamKDean @lantr_io @meepo We're already working with him on something else lol

@Quantumplation @lantr_io Paging @meepo

Are there any Cardano digital artists that want to help with a paid project with a tight turnaround? Looking to have 4-8 small illustrations done by next week. Will share more details to those who reach out with some portfolio pieces. DM me or email at pi@sundae.fi

At least for me, the origin of the confusion comes from which ledger state is used to do the ratification. As far as I understand it (and I confirmed with you in private), even though ratification and enactment happen in the same epoch, ratification (mostly) uses the stake snapshots, votes, etc. from the *previous* epoch, for most practical purposes *you can know whether a proposal will ratify* one epoch early. So, barring some major rollback, a proposal "ratifies" one epoch earlier than it actually does in the code. The one exception being the epoch number, which is used for expiration, which is exactly what created the confusion here. This framing also makes some logical sense, because the node needs at least one rollback horizon to finalize the state of the vote, so "ratifying" and "enacting" being offset by one epoch would enable that.

I've spent the past two years now dissecting this code and trying to make sense of it; there are many ... weird stuff. The governance in particular, I don't know why, but this idea that enactment happens one epoch after ratification spread out; and now everyone thinks it's how it works, but it's not. Ratification and enactment happens always at the same time (or they don't at all); and it is the ratification which is delayed to begin with.

Important notice for #Cardano gov actors. The hardfork action, if ratified, will delay ratification of all other proposals at the same epoch, and might permanently cancel such proposal if in its last epoch before expiration. Concern teams: @strikeperps and @eternlwallet + ikigai

We’re LIVE again! Come join us! x.com/i/broadcasts/1…

@InputEndorsers @adamKDean @GovActions Because I voted twice

@adamKDean @GovActions Why is that pi X 2?

Treasury Donations Summary (Previous Epoch) Transactions: 2 Total Donated: 6.283184 ADA

@scanlz The person who built it is @phil_uplc, he has since claimed it publicly, but at the time, he was being careful legally.

@Quantumplation Is there a possibility to enter a wallet address manually? I know you trust the individual that created the site but some of us still have doubts connecting our wallet through a browser extension.

The larger the audience, the less capacity for nuance. There's a lot of armchair speculation regarding this SecondFi issue floating around from people on the outside. This is understandable: absent any other lever, I can understand why people want to speculate and try to get to the bottom of the issue. However, much of it is incorrect, myopic, and uninformed. Please keep that in mind as you read what people have to say and form your own opinion or act hastily. Myself and others have been asked to help with the forensics. I'm limiting what I say publicly until we have a complete picture, but rest assured, I will write an independent after action report that attempts to make everything crystal clear, similar to what I wrote for the pig-chain incident last year. This incident will certainly need to be paired with acute accountability; but accountability and pitchforks are not the same thing.

@Quantumplation This has been the year

Users in the Sundae community are telling me the Liqwid Discord is compromised, and a convincing wallet drainer is being advertised. Please be careful of connecting your wallet to any websites, and review every transaction you sign carefully. To all other projects, please: - review who has admin permissions on your discord - exercise the practice of having a cold discord account that you only log in to temporarily and to make specific changes - never ever install anything that someone asks you to, and be careful of calendy links and the like, which can pretend to ask you to sign into unrelated accounts Like I said earlier today, there's blood in the water and where there's blood, there are sharks.

Just spoke with DC, and the compromised account has been kicked. Good on @liqwidfinance for acting fast.

Here is a webapp I wrote to facilitate safe migration of wallets that I have been sharing with users I verified as impacted since the original incident occurred. My legal counsel finally gave approval to publish the tool publicly: is-my-cardano-safu.vercel.app You can use "Get Me Outta Here", and it will handle the corner cases that can result in loss of funds. Note that the tool is use at your own risk, it performs the safe migration handling the known edge-cases, however it doesn't guarantee comprehensiveness and there may be uncovered edge-cases that even this tool is not equipped to handle.

@slight2277 Honestly I haven't been doing most of the work, I've just mostly been serving as a sounding board so far. I don't want to steal valor from those who have been working 72 hours straight it seems like, but I also don't know if they want to be publicly identified.

@Quantumplation Never a good time when Pi is called in for forensics. It means shit really hit the fan. But at least we know the analysis will be done thoroughly. I reluctantly look forward to reading your report.

I am not recommending anything. Any action or inaction you take is your responsibility. What I can say is that it's very subtle. There are rare corner cases where trying to follow this advice can lead to loss of funds, and it's hard to explain what those corner cases are or how to avoid them to someone who is non-technical.

@Quantumplation Pi are you still recommending restoring the possibly compromised wallet in another non-Yaroi wallet and transferring the funds? There's a lot of contradicting info out there and I don't necessarily trust the info being posted by the second-fi team

@cardanomosh My understanding is that it is any private keys for which SecondFi (or perhaps Yoroi) has produced and published a signature since the compromise, regardless of where the wallet was originally generated.

@Quantumplation Thank you for sharing. Is it your understanding that basically any wallet could be exposed? Or only if the person thinks that maybe they used Yoroi or SecondFi to create the wallet?

There are obscure and rare corner cases where this can lead to further loss of funds. Some wallets will automatically withdraw staking rewards as part of the first transaction and return them to your wallet instead of sending them to the other wallet. If you panic and only send ADA, your native assets will be returned to you as change. This can move assets from somewhere that they're safe, to an address that is compromised, and expose them to further losses. The point is, if you understand all the nuance and corner cases, there is a safe way to move your funds. If you don't, and you're rushing and panicking, there are ways you can make a mistake. And that's why I'm being careful not to tell people what they *should* do, while still trying to be helpful.

@Quantumplation "I recovered my seed phrase into another wallet (Eternl), created a *second* brand new account. I then sent all funds (including native tokens) from the compromised wallet to the new wallet." How can this NOT be the BEST solution for everyone?

@BrothershipPool Also technically speaking, I'm *not* giving advice. 😅

@Quantumplation Good advice, sane advice , FINALLY Ok "Pink haired one", you get back all the respect you lost during your Anti-sSPO era. I will even stop calling you "The pink haired one"

@BrothershipPool :) Thank you, and sorry for whatever beef we've had in the past. I've never been "anti-sSPO", for what it's worth, I'm just not "all in" on it (or on anti-MPO rhetoric), as some others are. Still, I respect those opinions, even if I disagree.

Remember: there's blood in the water, and it's attracting sharks. People will try to offer to help, "support" will try to contact you, and you aren't as immune to manipulation as you think. Never confirm publicly if you think you've been impacted, as this makes you a target. Never trust someone reaching out to you unsolicited. Even for people you trust, think for yourself and don't let panic and fear lead you to a worse mistake.

What I *can* do is share what steps *I* took to ensure my funds were safe. The website below was built by someone I trust. It connects to your wallet, reads your wallets public addresses, and scans publicly available data to determine if those addresses are impacted. is-my-cardano-safu.vercel.app I connected each of my wallets to this to see which were impacted. For most of them, no private key was leaked, and the safest thing for me to do was to disable the SecondFi app and wait for the bug to be patched. For one wallet, which I use for testing, it identified that the key was already leaked, and funds were at risk. I recovered my seed phrase into another wallet (Eternl), created a *second* brand new account. I then sent all funds (including native tokens) from the compromised wallet to the new wallet. I reviewed the transaction carefully, including all "outputs", to make sure there was no "change address" returning funds back to the first wallet, which could have put them at risk of being swept by an attacker.