carl

THORChain Incident Update #4 Following the events of May 15th, the community has been hard at work defining a path forward. ADR028 is now published and a vote is open for Node Operators. 🔹 The Recovery Plan 🔹 The protocol will absorb the loss first through Protocol-Owned Liquidity and the remainder is spread across synth holders (The exact split between the two is still being evaluated). By doing so, POL will be reduced to zero. The ADR proposes to redirect a portion of system income to replenish it over time. No new RUNE is minted, no RUNE is sold, and no holder is diluted. 🔹 The Technical Decisions 🔹 GG20 is kept in place for now, patched and upgraded. Trading resumes only after the vulnerability is patched and a successful churn has occurred. A slower, more security-conscious release cadence is also called for going forward. 🔹 The Slashing 🔹 Innocent nodes that end up being in the same vault as the attacker are protected. The attacker's node is slashed in full. The recovered RUNE is paired with whatever assets can be recovered from the affected vault, and any surplus RUNE is burned. 🔹 The White Hat Offer 🔹 The attacker is offered a bounty to return the funds. If funds are returned partially, the recovery plan rolls back proportionally. 🔹 Protocol Neutrality 🔹 THORChain remains neutral and permissionless. The attacker's swaps will not be censored once trading resumes. Node Operators are now voting on the overall direction and principles of this proposal. The figures in the ADR are indicative at this stage and will be adjusted later, notably via Mimir. The goal is to restart the network as soon as possible. A yes vote is a green light for developers to continue building in that direction. Full details of ADR028 gitlab.com/-/snippets/599… For those who want to understand the full context of what happened, this article is for you: thorchain.org/blog/thorchain…

I just spoke with Charles Schwab about the @SpaceX IPO. Schwab is one of a handful of brokerages selected by SpaceX to allocate IPO shares to retail investors. If you have an account with Schwab, here’s how to prepare for the SpaceX IPO: 1) You first need to opt into IPOs from the Trade > IPOs page on Schwab's website. 2) After you've opted in and the IPO shows on the page, you can submit an Indication of Interest. The indication of interest will be able to be submitted when the Roadshow period begins for the stock. This is currently expected to be early June. 3) You need to have minimum $100,000 in total balance to be eligible to participate in the SpaceX IPO share allocation. Schwab still doesn't know how many shares will be allocated to their brokerage at this point since SpaceX will be the one to decide that in the coming weeks. Just be prepared to check back on the IPO section of Schwab's website. Additional info will come later. Lastly, don’t be surprised if you receive fewer IPO shares than you requested (if any at all). Demand for the limited number of available IPO shares will almost certainly be extremely high, and these participating brokerages will only get a certain sized allocation of shares to offer to retail investors, so it'll likely be tough to accommodate everyone. The best thing you can do is to just be prepared. Note: SpaceX specifically stated in their S-1 filing that any purchase of their Class A common stock in this offering through these platforms will be at the same IPO price, and at the same time, as any other purchases in this offering, including purchases by institutions and other large investors, which means any retail investors that are lucky enough to get allocated some SpaceX IPO shares will pay the same price as the big guys.