Key Points:
Previously, stkATOM was scheduled to launch on November 8, 2022, but it was delayed by a Persistence Core-1 chain halt and an incident in which a bad actor skewed the exchange rate of stkATOM to ATOM on the Persistence Core-1 Chain Mainnet on November 6.
The Persistence Core-1 chain stopped at block height 8,647,535 for a period of about 4.5 hours. Due to a node nondeterminism problem brought on by the validators’ use of various Golang versions, the chain came to an end. As a result, the controller chain (Persistence Core-1) on the host chain (CosmosHub) closed the ICA (Interchain Account) channel it had established. The LS (Liquid Staking) Module for ATOM from pSTAKE continued to operate normally.
From here on, the pSTAKE team offers three options in consideration:
The pSTAKE team chose this approach after giving it great thought and weighing all of the alternatives since it is the only one that prioritizes the three key values of pSTAKE: Security, User Experience, and Utility at the forefront. The v6 PersistenceCore upgrade already includes the risk mitigation described above, which was done by the pSTAKE team.
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Harold
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