Protocol Paused For Bug Fix Upgrade - 3/28/2021 01:10am ET. (Update: Protocol Resumed)

Hi everyone. This announcement is to let you know that a bug has been identified in the Livepeer protocol smart contracts, and we will be conducting a fix. This is a bug that remains unexploited at this time . After some analysis however, we have decided to pause the protocol out of an excess of caution so that we can prepare a fix, test it, and get it deployed, without putting any user’s protocol role or tokens at risk. While Livepeer is still in the beta stage, this sort of issue is fully expected, and we have built these upgrade and bug fix mechanisms for exactly this purpose. It is important for us to mitigate risks for our early protocol participants as much as possible.

The estimated duration of the protocol pause is 6 hours . It is hoped to avoid missing a single protocol round, however it is possible that the pause may extend longer if necessary, or resumed quicker if possible.

During the paused period, the protocol will be inactive and protocol parameters will stay the same. This means any interaction with the protocol will be ineffective. For delegators, your token will stay bonded but will receive no rewards because there will be no round progression. For transcoders, your nodes will not be able to initialize round or call reward, and there will be no token reward minted. However, non-participating tokens can still be transferred as usual. Broadcasters are urged to continue using Rinkeby to test and develop. The Livepeer team is working hard to fix the bug, and we will be in constant communication with updates. Expect a full post-mortem with details of the issue and remedy after the fix has been deployed and verified. If you notice any issues, please report to the discord channel at , and check here for updates.

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Update at 4:18am ET, 3/28/2021: The fix has been deployed and the protocol is unpaused.

Thanks to everyone who worked on this bug fix. We will follow up with a post mortem on the issue in a few days. This issue was introduced due to a corner case of updating the precision calculation in LIP-71. No user funds were compromised as a result of this bug to the best of the team’s knowledge. There is a small Eth differential in the fee pool, which we will follow up with a remedy for the post mortem.

As a reminder, these sorts of issues are expected to be discovered during the beta phase, and it is the reason that we have these upgrade and safety measures in place to protect users funds. Thank you for your patience during the pause.

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Well done everyone, and thank you for keeping the protocol safe.

Can I ask, what is LIP-71? I couldn’t find it in livepeer/LIPs in GitHub.

Here it is

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Good job @ericxtang and the team.

Interested to know more about the ETH differential in the accounts, sounds familiar!

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The post-mortem for this bug has been published.