Important Announcement Regarding Signaling Audits and Proof of Use


#1

Dear FOAM community members,

As you know while the Foamspace developer team has been hard at work implementing the front and back end aspects of Signaling, we have been waiting for the completion of a third party audit of the smart contracts before deploying to main net. Please see below an important update on the audit:

The rollout of signaling has been put on temporary pause due to the unforeseen inability of our smart contract auditor to complete its audit of our smart contract. After several delays, late yesterday we were informed that our smart contract auditors are, due to internal reasons, unable to fulfill their auditing contract with us. Please note: The auditor’s inability to complete its audit has nothing to do with Foamspace or the integrity of our smart contract.

Foamspace is committed to using strong security practices when deploying smart contracts that will interact with the tokens of purchasers. It goes against these security practices to launch the signaling portion of our protocol without necessary auditing, resulting in another delay of both signaling and an extension of the initial use period deadline. This is a frustrating and disappointing development for FOAM, as the contracts and front end work has been completed.

To help us get this resolved as soon as possible we have started a contract with another auditor. We will return with an official statement regarding a new deadline as soon as possible.

We will be posting this update every where, thank you for your patience and support, it is much appreciated. As stated above the work on Signaling is complete pending the audit, here is the latest preview: https://blog.foam.space/signaling-on-foam-91626d858328

Please reach out to us here, on gitter or by email with any questions or concerns. All of our previously published audits of currently deployed contracts can be found here: https://github.com/f-o-a-m/public-research


requirements for POU?
#3

Yes, Signaling is a core function of the protocol and many token purchasers are waiting to utilize this functionality to fulfill Proof of Use. As stated, this is a frustrating and unfortunate development that we could not directly control, but we can not responsibly deploy the Signaling smart contracts and advise large amounts of tokens to be staked on the main net without a proper audit.


#5

The deadline for the audit to be delivered was this Monday. We did not know it would not be delivered at all until it was already past the deadline. We were not informed of this development prior. The intention of the “initial use period” is for all of the features to be live and tested by token holders. Proof of Use and the Initial Use period are separate but related things.

We are happy to speak with community members in a chat fashion on Gitter. Our reasons for moving on from Telegram are multifaceted and explained in our blog post. In addition, we spent an extensive amount of resources banning and keeping out scammers in the Telegram, which is a serious drain and risk to the community. From our perspective, projects that we are close and work with such as 0x, MakerDAO, Augur etc. also do not use Telegram for these reasons.


#7

These things happen. I imagine it’s difficult to find good auditors for cutting edge work like this. Thanks for the update @Ryan_foam. Stay positive and keep up the good work FOAM team!


#8

Dear FOAM community members,

I am writing with an update on the auditing of the Signaling smart contracts. As you know auditors are in high demand in this space, booked in advance and often very expensive. We have signed a contract with Matthew Di Ferrante, developer at the Ethereum Foundation and head of the auditing firm ZKLabs. ZKLabs has just completed an audit for the Cosmos project and comes highly recommended. The audit is anticipated to take 10 days to be complete. We will make an announcement this week on the new end date to the initial use period. Thank you for your patience and understanding. We take security very seriously and can not responsibly deploy Signaling and have users stake tokens with out a proper third party audit.

Please reach out to us here, on gitter or by email with any questions or concerns. All of our previously published audits of currently deployed contracts of the TCR, Voting and Token Controller can be found here: https://github.com/f-o-a-m/public-research

Best,

Ryan


FOAM Map Developer Update #3
FOAM Map Developer Update #3
What would you like to see more of on Discourse?
#9

Do you have an update for this announcement on the new end date to the initial use period?


#10

No new date confirmed yet, audit results should be received in 3-4 days. The work on signaling contracts and front end are done and running on our test Map. You can see the preview in the blog post.

When we receive a final audit we will launch the functionality. We can’t rule out the fact that the audit will come back with suggestions for changes so that’s why picking the exact date is not simple without the risk of it changing again.


#11

It’s now been more than 10 days and you didn’t give a new date to the community as you said you would do so in this message. More interaction with your community please!


#12

Hello everyone,

As an update we are patiently waiting for the audit from ZKLabs. The work began on November 12th and should be delivered very soon. Additionally, we started work with a secondary auditor, Solidified.

Please see below a new video preview of Signaling running on our Ethereum test network, where a Signal is added and removed. The final build will include the radius visualization as seen below. Thank you again for your patience. Signaling is prepared to launch as soon as we receive and publish the audit.


#13

swoon the signal. it’s so beautiful. :blossom::sunny::full_moon_with_face::honey_pot::yellow_heart:


#14

Dear FOAM community,

After much anticipation we finally received a completed audit of the Signaling contracts. The published audit can be found here: https://github.com/f-o-a-m/public-research/blob/master/FOAM%20Signaling%20Audit%20Report.pdf

There were no major security issues found, only minor suggestions that we have implemented this week. Signaling will now launch on Monday December 3rd and the initial use period will end Monday December 10th.

Clarification : PoU does not need to be completed by the December 10th. You can complete it at any time and only once you have completed it, can you move the FOAM Tokens.

Thank you again for all your patience as the FOAM Map launch is finalized in a secure way.

See below the latest preview of signaling that includes visualizations of the radius. The visual layer and future heat map for signaling will be continuously improved and we hope that users develop their own layers as well!


FOAM Initial Use Period ends on 2PM EST, Today (Dec 10th)
#15

I see that radius is not connected to the amount of FOAM tokens used. What benefits are there to having a smaller radius? Why not just have a huge radius for all signals?


#16

Good question. The signal weight is defined by three components: radius, token stake and age.

The radius defines the area of coverage you want your Signal to affect, but the token stake effects attenuation. This means you can signal in a small area with a lot of tokens to have a very densely weighted signal, or choose a larger radius with the same amount of tokens to spread out the impact of the staked tokens.

This is visualized in the current stage of the UI by opacity of the radius. The more staked the more filled in and intense the circle appears. It is like adding color dye to water. The container of the water determines the radius and the amount of die influences the strength of the “signal”. If the container (radius) was made larger without adding more dye the “signal” would be weaker but cover more area.


#17

Great explanation. I like how you’ve created a ratio there, between these two aspects.


#18

Will there be a step by step video on how and why to Signal, other than your quick demo? Tx


#19

Yes, there will be a step by step blog post as well as an update to the FOAM Map user guide.


#20

Signaling was to launch the 3rd. It’s now the 4th everywhere except Hawaii. They have 2 minutes left to midnight. It’s becoming frustrating to be told various dates only for them to move again. Will the open sale be moved by a day as well?

When does signaling go live? Why the delay (again)? Why is there no message? What’s going on?


#21

The signaling deployment is taking longer than expected but will be done by end of day.

So far:

  1. Deployed a new signal smart contract :white_check_mark:
  2. Deployed a new token controller - POU also refers to signaling now :white_check_mark:
  3. Migrated the token controller :white_check_mark:
  4. Change FOAM Token to point to new token controller :white_check_mark:
  5. Release new front-end on FOAM Map with Signaling :white_check_mark:

EDIT
Signaling is LIVE!


#22

incremental, secure deployments beat flashy, high profile releases any day. take your time, FOAM.


#23

Signaling is now live! You can use the functionality at map.foam.space

Check also the new layer controls at the bottom!