Temitope Onchain

Just In: Bandits behead one of the teachers abducted in Oyo state. Gory footage in comments.

According to Pencom rules, before a PFA can invest pension assets in any company's shares, that company must meet minimum thresholds on three fronts: ✑ it must have existed for a certain number of years (typically 5 years for listed equities under PenCom rules) ✑ it must have a track record of profitability, and ✑ it must have a history of paying dividends. This makes sense as a contributor protection framework, as you don't want pension money going into speculative or unproven businesses. And these conditions have constrained the allocation of Pencom to some companies (and the equities market in general). The problem is that Dangote Petroleum Refinery & Petrochemicals FZE is technically a new listing. Despite being backed by Dangote Industries and being one of the largest industrial assets in Africa, it doesn't yet have the requisite years of existence as a listed entity, nor a dividend payment history, which would ordinarily disqualify it under those rules. So PenCom essentially carved out a special exception, acknowledging the strategic and economic significance of the asset while setting aside the standard eligibility criteria. It is pragmatic. Na we dey always say make regulations relax so we go fit see prosperity. Therefore, mi o binu si raaraa. Kudos to Pencom. Howeverrrrrrrrrrr.... 🌚🌚🫠🫠🫠🫠🫠🫠🫠 It took Ekun Oko Oke, Ikoko Aliko 1 to be on the other side before Pencom remembered "strategic importance, strong fundamentals, and wide-ranging economic benefits, and the growth potential" (as though it's not the case for some other companies). Na all these selective application of rules me no too fancy (they even stated it in the circular that it is one-off). But it's the Dangote Refinery, we allow.🙂🙂🙂🙂

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Over the past few weeks we have re-audited every cryptographic dependency Hyperbridge relies on. This has led to the discovery of even more critical vulnerabilities in our code, third-party libraries and even Polkadot itself. All have been responsibly disclosed and patched. We’ll be publishing a detailed write-up on shortly on all our findings. The root cause of the original incident was a missing single line of code that permitted proof forgery. The vulnerable code in question dates to early Polytope Labs days and predates our current review & testing standards, which is why the re-audit was warranted and why it’s ongoing. Alongside this, we’re launching a bug bounty which will help us work with whitehats on the continued security of the protocol.