Babylon Genesis Whitelisted Address for Deployment of the Union contract set.
Summary
This proposal seeks to grant Union authorization to upload CosmWasm contracts to Babylon Genesis without requiring further governance approval for each upload. The contracts serve to support bridging into Babylon, as well as Baby transfers into various BTC L2s.
Proposal Details
Type
- Proposal Type: Parameter Change
- Chain: Babylon Genesis Mainnet
- Messages:
/MsgAddCodeUploadParamsAddresses
Overview
The address will deploy and maintain the bridge and zkp verifier contracts on Babylon, as well as route swaps for gas into Tower. It may later add additional middlewares for 1-click integrations into Babylon’s DeFi ecosystem for bridge transfers (routing, staking, LPing).
The proposal is a parameter change update to the WASM module of the Babylon Genesis chain. Specifically the addresses array will be appended with the Union deployer address to enforce whitelisting. Union leverages role-based access as is the current security best practise, meaning that we separate the deployer from the admin account. The admin will be a multisig consisting of Union core members and third party security advisors, while the deployer initially is an operational wallet to deploy the full contract set.
Parameter Specifications
Technical Details
The message:
{
"messages": [
{
"@type": "/cosmwasm.wasm.v1.MsgAddCodeUploadParamsAddresses",
"authority": "bbn10d07y265gmmuvt4z0w9aw880jnsr700jduz5f2",
"addresses": [
"bbn10c4yqddv6w7sphruvhxs5v0es8r9fcj5xgn904"
]
}
],
"metadata": "ipfs://CID",
"deposit": "200000bbn",
"title": "Whitelisting Address for Union",
"summary": "Governance proposal to grant the Union operational address authorization to upload CosmWasm contracts for interoperability integrations. Please read the forum post: https://forum.babylon.foundation/t/whitelist-union-deployer-address/108",
"expedited": true
}
Security Considerations
Union develops cutting edge interoperability solutions and has extended IBC to new ecosystems, such as Ethereum, Bob, Corn, Berachain, Arbitrum, and Scroll.
- Smart Contract Audits: The codebase has undergone audits by Informal Systems and Spearbit, and new components continue to be audited. (audits.union.build)
- Rigorous Testing: Extensive testing leveraging unit tests and integration tests.
- Loadtested: Union conducted one of the largest bridge testnets in history, handling over 50 million IBC transfers, doing more daily transfers than all other IBC enabled chains combined do in a month.
- Multi-Signature Security: The admin address will operate under a multi-signature scheme to ensure that multiple validations are required for any critical action, reducing the risk of unilateral mistakes or malfeasance. An M-of-N threshold will be used with M being a total number of three potential signers and threshold N requiring at least two signatures. The quorum is placed at an odd number and secures the majority of the potential signers to avoid a tie situation in decision making.
- Monitoring and Incident Response: Ongoing monitoring of contract interactions combined with a robust incident response plan to address potential security breaches promptly. We are supported by range.org and groomla.ke.
- Physical Security: Every key will be stored on different devices and it will be made sure that no direct connection between those devices will be ever established.
- Social Engineering Proof: The Union team has undergone social engineering training and is conducting regular phishing attack simulations and training with our security advising team.
- Risk Assessment: Low
- Operations: Union leverages RBAC to ensure that the deployer and admin account are separated.
- Testing Status: Tested and audited.
- Monitoring: The Union team will intensively monitor the behavior of the uploaded code and is available to intervene if necessary.
While this proposal authorizes the specified address to upload CosmWasm contracts to the Babylon Genesis network without independent governance proposals, it specifically will be only used to upload the contracts necessary for the operation of the Union bridge. Any future products or significant changes to the architecture will be subject to a new governance proposal (in the form of Text Proposal) to ensure transparency and community oversight.
Timeline & Expected Effects
- Implementation Timeline: Immediately after Babylon Mainnet Launch
- Dependencies: Whitelisting of the address
Team & Resources
Union is the most advanced interoperability protocol, leveraging zero-knowledge cryptography and custom circuits to deliver the most gas efficient and high-performance bridge experience to end users.
The Union team has worked on significant innovations in the Cosmos ecosystem and delivered the first IBC connection to Ethereum and various other ecosystems.
- Proposing Entity: Union Labs
- Website: union
Benefits
- Union bridge support, granting major LST providers like Bedrock with secure and efficient avenues to bridge assets from Ethereum and Berachain to Babylon.
Conclusion
By supporting this proposal, the Babylon community will enable Union to efficiently deploy and manage their bridge contracts.
Addendum
- This proposal is written using the Tower proposal as reference.
- Since this proposal is posted by a ‘new user’, the amount of hyperlinks was limited to 2.
