Dear Mento Community,
The protocol’s technical watchdog veto mechanism was activated to temporarily pause the $MENTO transferability switch as a precautionary measure. To be absolutely clear: no security breach has occurred, and no funds are at risk. This is a proactive safety measure while we investigate a report from one of our ecosystem partners.
What Happened
Earlier today, a trusted partner flagged potentially suspicious activity related to the cross-chain deployment infrastructure for $MENTO that warrants further investigation. We want to emphasize that there is no danger for the protocol right now, as transferability has not been enabled yet. In an abundance of caution, and given the paramount importance of security when enabling token transfers, we are taking the time to thoroughly verify that everything is functioning exactly as intended before proceeding.
This precautionary approach is precisely why Mento Governance has these safety mechanisms in place, allowing watchdogs to pause and verify whenever anything appears even slightly unusual, thereby ensuring the highest level of security for our community.
Watchdog Decision
After careful consideration, the watchdogs have decided to pause MGP-7. We understand that many in our community have been eagerly anticipating this moment, and we share your enthusiasm. However, the security and integrity of the Mento protocol must always be our paramount concern. We owe it to our community to ensure that every aspect of this launch meets our rigorous security standards.
What We’re Doing
The Mento Labs technical team, in collaboration with external security experts, has initiated a comprehensive investigation into the flagged activity immediately. This investigation includes:
-
Detailed analysis of all cross-chain deployment contracts and infrastructure
-
Coordination with our security partners to validate all components
-
Coordination with Wormhole to validate the setup
-
Additional security audits, if necessary
We are treating this matter with the utmost urgency and dedicating all necessary resources to complete this investigation as quickly as possible without compromising thoroughness.
Timeline and Next Steps
While we cannot provide an exact timeline at this moment, we want to assure you that:
-
This investigation is our absolute top priority.
-
We will provide updates to the community as we progress.
-
We aim to relaunch the transferability proposal as soon as we can confidently confirm that all security concerns have been addressed.
We Appreciate Your Understanding
While this pause may be disappointing to those who were looking forward to token transferability today, your patience and understanding are appreciated while the work to ensure the long-term security and success of the Mento protocol continues. Your trust is invaluable, and we will not compromise on security to meet any deadline.
The strength of our protocol lies not just in our technology, but in our commitment to doing things the right way. This temporary pause demonstrates that our security mechanisms are working as intended and that we will always prioritize the safety of the protocol and our community’s assets.
We will keep you updated through our official channels as the investigation progresses. If you have any questions or concerns, please don’t hesitate to reach out through our community channels.
Thank you for your continued support and understanding.
. While the community’s will regarding transferrability is clear, there was no technical way to avoid the need for another governance proposal. As soon as we have more clarity regarding when we can resubmit, we’ll let the community know!
. Thank You.