iExec Token Crowdsale Rescheduled to 19th April to Optimize Smart Contract Security
We have taken the decision today to reschedule our RLC token crowdsale to the 19th April 2017 at 13:00 UTC.
The security of your funds is our first priority. To date, we have open sourced the contract, described the security architecture of the crowdsale platform and the code has gone through several internal and external security audits and tests. Open Zeppelin has also openly published the security review of the smart contract, in which no critical errors or vulnerabilities were found, and we have thoroughly applied all their recommendations.
However, we want to go deeper into the process by launching a bug bounty program.
You may be aware that a bug was discovered last week in Ethereum that affected the way that tokens are handled by exchanges.
“The bug was indeed the exchange’s fault, but it was also related to the way Ethereum contracts see the transaction input data and Solidity ABI (e.g. the way the methods of Solidity contracts encode and decode arguments). So of course it was not specific to GNT, but indeed to all ERC20 tokens, as well as other contracts which have transfer-like methods. Yes you read it right: this could potentially work for any Ethereum-based token listed on said exchange, if only withdrawals were managed in the same way as GNT. We do not know this to be the case, but assume it was very likely.”
In order to ensure the highest levels of security we have decided to push the crowdsale launch back one week to allow time to undertake a more thorough auditing process. We are committed to our project supporters and to delivering a great product to them — ensuring there is zero risk to crowdsale participants is part of that commitment. So we ask you to bear with us until Wed 19th April.
If you have some programming skills you are invited to participate in our bug bounty program by joining our slack. We reward 50.000 RLC (10BTC) for anyone finding critical vulnerabilities that would prevent the crowdsale to execute correctly.
In the meantime, we will continue to strengthen our presence across the community during this additional week. This includes an interview that we have been looking forward to with Epicenter Bitcoin.
Join our crowdsale on 19th April and help launch the future of cloud computing!