What does the rollback mean?

A message from the Haven Protocol team

As we prepare for the upcoming fork and rollback, we need to ensure all users are fully aware of what this means for the protocol. The rollback effectively reverses the Haven Protocol chain in time and as a consequence, there will be some follow-on effects of this action.

The option of conducting a rollback was never something the team envisioned happening. Still, due to the nature of the June 2021 exploits, it became one of only two realistic options available to move forward with the project without significant risk to the project’s economics and users.

Following extensive investigations, it was found that an unknown amount of coins had been created in two of the conversion-based exploits. This then led us, as a community, to decide on how best to deal with the situation given the likely high amount of supply. Once the optimum block to rollback to had been identified, it then became a decision of whether to rollback or accept the unknown inflation into the network. The community overwhelmingly voted for the rollback as this was widely seen as the least damaging to the long-term security of the network.

The main result of the rollback is that some transactions will be reversed. There may be a small number of users who will be affected negatively by this action. For those who have carried out on-chain transactions (not buying/selling on an exchange) between the rollback block and the time we conduct fork 1, it is important to note that those transactions will be reversed. In the case that these transactions involved a third party it is suggested that users contact the sending party and advise that the transaction has been reversed and to resend the original amount (after the fork). 

This has been a challenging time for the Haven Protocol team, community and all involved in the project.  We sincerely regret the recent issues and any harm caused to individuals who may have been left out of pocket by the actions of the exploit. We would particularly like to thank our partner exchanges, including KuCoin and TradeOgre, for their ongoing support of our investigation and efforts to re-open wallets as quickly as possible. 

The crypto space is still in its very early stages of development, and we are constantly learning and refining the processes by which we build these new financial tools. Building an ecosystem of truly private, stable assets was never going to be easy. Please be assured that we have learnt many crucial lessons from this. 

We have, and will continue to, implement more stringent testing and reporting procedures to strengthen the protocol and regain the invaluable trust that has been tested over the past weeks. 

In addition, we will shortly be releasing a new bug bounty programme that creates a more formalised and simple method for anyone to provide information on bugs and issues. We believe this will significantly assist us in getting as many expert eyes on the codebase as possible to harden the protocol and help prevent future attacks.