Thanks for the comprehensive update on this major setback for Osmosis, @jk6276. The best I can do is be hopeful that it works out something like V1 of WLEO. Khal learned a valuable (and expensive) lesson for "the next time" ...
Still ... It is concerning that it happened at all, given the report of how relatively trivial it was. Carelessness. Lack of attention to simple details. That just shouldn't happen and does not speak well for the dev team. We can only hope this "wakeup call" results in exactly that.
Fortunately, I do not have any of my IBC-based staking tied to Fire Stake ...
"The big risk for me remains the bridge."
Axelar is still untested by me, as I am not confident it is past the uhhh ... "not ready for prime time" phase. I successfully used the Connext bridge, my "go to" bridge, to move funds into EVMOS, so I am going to stick with it, until I have more confidence of a better alternative.
I just used Connext to go from Polygon to Evmos, and it seemed to work pretty good. I've heard some good things about Axelar, particularly the team behind it. Will definitely dig in to a lot more detail at some point soon, as like you I approach bridged assets with caution.
It is concerning that all this happened. The key thing I'm watching for is the response, and signs that they learn the lessons. Talk is cheap, we saw with Thorchain that it took a couple of exploits before they really took it all seriously. Now it is battle tested and likely one of the most secure Dex's out there. Hoping that Osmosis takes this lesson and fortifies itself much better for the future.
IBC itself still has not been tested by a successful attack yet. I'm hopeful that doesn't happen, but always alert.
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Yes, it is somewhat "slow, but sure," so it has won me over. In particular, it seems like it is well coded to know whether there are any issues. In advance! What a concept (thinking of my experience on some other bridges I could name) ...
And the cost? I transferred $$s to EVMOS for almost nothing. I frankly don't know how they make money and even cover their costs, but I assume they know what they are doing. With volume ...
Yes. Huge to me is they have claimed everyone will be "made whole." The time and expense of that alone, never mind the professional embarrassment, will hopefully prove out as the necessary motivation to do a much better job, in the future.
I for one hope so, as I have really enjoyed Osmosis. I would like to see it succeed long-term.
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