December 23, 2024

Rise To Thrive

Investing guide, latest news & videos!

LiFi launches multi-bridge governance solution after Uniswap debate

1 min read
LiFi launches multi-bridge governance solution after Uniswap debate

Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous organization (DAO) governance, according to an Aug. 17

In the Aug. 18 announcement from LiFi, Chand said the team’s new bridge aggregator would provide “a future-proof solution for different cross-chain messaging needs,” preventing protocols in the future from needing to rely on a single bridge for governance messages.

According to the aggregator’s documents, protocols can use LiFi to require that votes be confirmed on two out of three bridges to be valid. For example, if one bridge says that a DAO tokenholder voted “yes” but the two other bridges say that they voted “no,” the “no” vote will be confirmed. The aggregator can also be configured to use three out of five bridges or any other ratio the DAO wants.

LiFi bridge aggregator design diagram. Source: LiFi

LiFi isn’t the only team to create a multi-bridge aggregator for DAO governance. Gnosis released a similar protocol called “Hashi” in March.

In June, a UniswapDAO committee claimed that Hashi was “not yet production-ready,” had pending audits and did not have a bug bounty. Therefore, the committee concluded that it was unsuitable to handle DAO governance.

The LiFi aggregator has also not been audited. Chand claimed in his announcement that “soon, we’ll expand its testing and submit it for an audit by Trail of Bits.”