Key Highlights:

• The Shiba Inu team has confirmed that the migration to LEASH v2 will commence shortly after security firm Hexens completes its audit.
• The original LEASH token’s integrity was compromised by a hidden flaw enabling supply manipulation, contradicting its promise of a fixed supply.
• LEASH v2 intends to rectify this problem permanently, as all tokens for the new version are minted and ready for transition.

Developers announced on Tuesday the long-anticipated LEASH v2 migration will kick off in the coming days following security firm Hexens’ approval of the new token and its migration agreement. This affirmation resolves prolonged uncertainties caused by a concealed issue in the original LEASH code, which undermined its supposed unalterable supply condition.

LEASH was initially positioned as a rare asset; however, its contract had a rebase mechanism that could alter the supply under specific circumstances, even after developers declared that all control keys were relinquished. The flaw allowed pre-authorized proxies to execute supply modifications, dating back to 2020, eventually leading to a 20% increase in token supply.

The new iteration aims to eliminate this vulnerability. Hexens, recognized for auditing projects like Polygon zkEVM, reviewed both the LEASH v2 token and its migration mechanism. Developers stated that the new contract will retain an immutable supply following the implemented fixes, with the complete supply of v2 already secured in a multisignature wallet. When migrating, v1 tokens will be locked or destroyed, and v2 tokens will be issued from the multisig according to each holder’s allocation.

The redesign is based on OpenZeppelin ERC-20 libraries for simplicity and transparency. Advanced features might be integrated later through wrappers rather than altering the fundamental token structure.

SHIB token prices have slipped by 1% in the last 24 hours amid a generally stable crypto market.