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Fuel Ignition is a high-performance Ethereum L2 built on FuelVM and the Sway language.
Fuel Ignition is a high-performance Ethereum L2 built on FuelVM and the Sway language.
Currently the system permits invalid state roots. More details in project overview.
There is no window for users to exit in case of an unwanted regular upgrade since contracts are instantly upgradable.
Only the whitelisted proposers can publish state roots on L1, so in the event of failure the withdrawals are frozen.
Ultimately, Fuel will use one round fraud proofs with single round performed via a RISC-V-based zkVM. Currently, there is a 7d challenge period.
Funds can be stolen if an invalid state root is submitted to the system by the proposer (CRITICAL).
While forcing transaction is open to anyone the system employs a privileged sequencer that has priority for submitting transaction batches and ordering transactions.
MEV can be extracted if the operator exploits their centralized position and frontruns user transactions.
Because the state of the system is based on transactions submitted on the underlying host chain and anyone can submit their transactions there it allows the users to circumvent censorship by interacting with the smart contract on the host chain directly.
The user initiates the withdrawal by submitting a regular transaction on this chain. When the block containing that transaction is finalized the funds become available for withdrawal on L1. The process of block finalization usually takes several days to complete. Finally the user submits an L1 transaction to claim the funds. This transaction requires a merkle proof.
If the user experiences censorship from the operator with regular exit they can submit their withdrawal requests directly on L1. The system is then obliged to service this request or halt all withdrawals, including forced withdrawals from L1 and regular withdrawals initiated on L2. Once the force operation is submitted and if the request is serviced, the operation follows the flow of a regular exit.
The FuelVM makes use of the UTXO model and a register-based design to enable parallel transaction processing. The language used is Sway and it does not support Solidity contracts.
Whitelisted addresses that can pause the ERC20Gateway.
Whitelisted addresses that can pause the FuelChainState.
Permissioned address submitting tx data as blobs.
Permissioned address that can propose new state roots.
Those are the participants of the FuelMultisig.
Standard gateway to deposit and withdraw ERC20 tokens. It implements rate limits and a whitelist for tokens. The whitelist is currently active. This contract can store any token.
Upgrade delay: None
Contract that allows to send and receive arbitrary messages to and from L2. It implements a max deposit limit for ETH, currently set to 19572.0 ETH, and rate limits withdrawals. Pausers are allowed to blacklist L2->L1 messages. This contract stores the following tokens: ETH.
Upgrade delay: None
The current deployment carries some associated risks:
Funds can be stolen if a contract receives a malicious code upgrade. There is no delay on upgrades (CRITICAL).
Funds can be frozen if pausers blacklist L2->L1 messages (CRITICAL).
Funds can be frozen if the limit of tokens that can be withdrawn is set too low.