• IOHK and MELD have partnered to tackle the Cardano transaction problem on the preprod testnet.
• MELD discovered the vulnerability after a comprehensive security examination of its protocol on the blockchain.
• IOHK has expressed appreciation for MELD’s efforts and is working with them to fix the issue.
IOHK and MELD Join Forces
Input Output Hong Kong (IOHK) and MELD, a DeFi protocol based on the Cardano blockchain, have come together to address an issue impacting Cardano transaction processing on its preprod testnet.
Problem Discovered by MELD
MELD identified this problem after conducting a thorough security review of its lending and borrowing protocol on the blockchain. As a result, it has postponed deployment of its protocol onto the mainnet until it can be assured that user assets are safe from any vulnerabilities.
IOHK expressed gratitude to MELD for bringing this matter to their attention and has indicated it is working closely with them to solve this problem. This shows IOHK’s dedication as a partner of Cardano in fixing any issues that may affect users of their platform.
MELD Working With IOG To Test Next-Generation Node Software
MELD is actively collaborating with Input Output Global (IOG) to test next-generation node software in order to better understand how they can jointly resolve this issue. They also plan to share more updates throughout April regarding their progress towards finding a solution.
Smart Contracts To Be Open-Sourced
MELD will open-source their smart contracts when they come up with an appropriate mitigation strategy for this problem, make necessary revisions, then deploy it into mainnet accordingly.