Gushiken Yona
Shiba Inu’s developers have cleared the last hurdle before the launch of LEASH v2, confirming that a full audit of the token and its migration contract has been completed by cybersecurity firm Hexens. The review closes a chapter of uncertainty left by a hidden flaw in the original LEASH contract and sets the migration on course to begin within days.
Key Points
- Audit Complete: Hexens finalized a full review of LEASH v2 and its migration system.
- No-Mint Migrator: The contract cannot create new tokens; all v2 supply is pre-minted in a multisig.
- Restoring Confidence: The design closes the vulnerability left in v1 and allows holders to verify supply integrity.
The Rebase Problem Exposed
The need for LEASH v2 began with a buried function in the original contract. Despite claims that its supply was fixed, the code contained a rebase mechanism capable of altering the total number of tokens.
“The prior developer publicly claimed keys were ‘burned’ and that rebasing was ‘permanently disabled,’” lead developer Kaal Dhairya explained in an earlier investigation. “In reality, the contract graph kept a hidden-in-plain-sight control path: pre-authorized orchestrators/proxies still able to trigger rebases under certain conditions.”
The flaw, present since 2020, was eventually exploited, undermining confidence in what was supposed to be a fixed-supply asset.
Hexens Puts the Code Under the Microscope
To restore confidence, the Shiba Inu development team engaged Hexens, a cybersecurity firm with a track record of audits for projects such as Polygon zkEVM and LayerZero. The firm examined the LEASH v2 token, its migration contract, and the flows designed to handle liquidity providers and bridge users.
“That audit is now complete,” Dhairya said in a blog post Tuesday. “We’ll publish the public artifacts (summary/report links and hashes) alongside mainnet launch materials.”
A Migration Designed to Lock Supply
The redesigned system removes the possibility of new tokens being created. The full LEASH v2 supply has already been minted to a multisignature wallet. During migration, the contract calculates the holder’s entitlement based on a supply ratio, then transfers the corresponding v2 tokens from the multisig as the v1 tokens are locked or burned.
“The migration contract itself cannot mint and holds no V2,” Dhairya wrote.
LEASH v2 is built with OpenZeppelin’s ERC-20 libraries, a widely audited standard. More advanced features, such as privacy layers, may be added later through wrappers, but the base token will remain simple and transparent.
What Holders Can Expect
The rollout will take place in three stages:
- Phase 1: Direct migration for holders, xLEASH/veLEASH/metaverse lockers, and UniV2/ShibaSwap V1 LPs.
- Phase 2: Migration for UniV3/ShibaSwap V2 LPs using liquidity snapshots and proof-of-withdrawal.
- Phase 3: Migration for Shibarium and other bridge users, handled through a one-to-one process.
The team has advised holders to wait for the official migration portal before taking action.
When Migration Begins — and What to Avoid
With the audit finished, migration is set to begin within days. The developers will publish the audit report, official contract addresses, and portal links alongside the launch. Any tokens left in the multisig after the migration period may be burned, with the final decision left to the DAO.
“There is no presale and no third-party ‘fast track,’” Dhairya cautioned. “Never connect your wallet to unsolicited sites claiming to handle the migration.”
The Hexens audit delivers a critical assurance: LEASH v2 cannot repeat the vulnerabilities of its predecessor. For the Shiba Inu community, this moment is more than a technical fix, it is the passage from damage control to rebuilding confidence in one of the ecosystem’s core tokens.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
