15 Jun 2023•
5 min read
In a first-of-its-kind report, the Uniswap Bridge Assessment Committee, commissioned by the Uniswap Foundation, has assessed six different bridges and has approved Wormhole for use in all cross-chain deployments. The analysis concluded that Wormhole (currently Uniswap’s most used cross-chain protocol) satisfies the requirements of the Uniswap DAO's cross-chain governance use case as outlined in their assessment framework.
In late 2022, the Uniswap forum received a proposal to officially deploy Uniswap v3 on BNB Chain, which generated a lot of discussion around which bridging solution to use for the cross-chain governance use-case. The proposal to deploy Uniswap v3 to BNB Chain passed, and Wormhole was selected as the bridge provider to enable the deployment. After the discussion, the Uniswap Foundation team commissioned a Cross-Chain Bridge Assessment Committee (composed of independent security experts) to evaluate bridging technologies. The committee came up with a framework for unbiased evaluation of bridging protocols, evaluated six major bridges using that framework, and today provided their recommendations for which bridges should be approved or not based on their assessment and framework
Uniswap’s Cross-Chain Bridge Assessment Committee assessed the bridging protocols based on a wide range of factors including security, extensibility (ability to easily scale to new Uniswap deployments, flexibility (ability to evolve and upgrade over time), and integration effort.
Based on these high level areas of evaluation, the committee created a framework to evaluate each of the six bridges which included the following four categories of risk:
The committee then used a two step process for completing their evaluation and recommendation. First, they assessed the core properties, design choices, and assumptions of each protocol, as well as completed a high-level review of its implementation and operational practices. Protocols that met relevant criteria during this phase proceeded to the second phase. In the second phase, a rigorous assessment was completed across all four categories of risk, including analysis of source code and both on-chain and off-chain data.
Conclusion: Wormhole was approved for use in all cross-chain deployments by the committee. The committee also concluded that the internal design of the components appears to be well thought out and in accordance with best practices. Overall, the observations were indicative of a mature codebase.
Below is the extended conclusion:
The analysis of Wormhole concluded it satisfies the requirements of the Uniswap DAO's cross-chain governance use case as outlined in the assessment framework above. The set of validators includes many reputable entities, and both the number of validators and security thresholds are set at satisfactory levels.
Moreover, the implementation of the protocol and operational security practices are well considered, with significant improvements to their DevSecOps practices and incident response procedures since its exploit incident that occurred in February 2022.
The Committee has identified some areas of improvement and recommends periodical monitoring of any material changes that may affect the protocol’s security profile.
The committee also raised a few recommendations for Wormhole that the Wormhole contributors are taking into account for future development roadmap. These include the following areas:
The committee’s security assessment concluded that Wormhole’s internal design is well thought out and in accordance with best practices. And overall, their observations were indicative of a mature codebase. They also made several other observations about Wormhole’s robust security practices, including:
In summary, the Uniswap Bridge Assessment Committee has officially approved Wormhole for use in all cross-chain deployments following their comprehensive assessment. The cross-chain protocol, currently the most utilized for Uniswap, meets the requirements of Uniswap DAO's cross-chain governance use case as delineated in the Committee's evaluation framework. This approval follows a thorough analysis of Wormhole's architecture, implementation, operation, and network risks. Notably, the assessment highlighted Wormhole's strong security measures, mature codebase, and extensibility. The Committee also issued several recommendations for further improvements, particularly focusing on validator decentralization, clear metrics for validator assessment, addressing latency issues, and implementing in-protocol mechanisms to tackle validator passivity. All in all, Wormhole Foundation looks forward to continuing to work to grow the Uniswap protocol and provide a best-in-class interoperability platform for builders.
Wormhole is the industry standard cross-chain messaging protocol powering applications across Web3. Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Wormhole enables a growing suite of products to build on its messaging layer. Wormhole Connect is a key asset layer product, providing developers an in-app bridging widget that can be integrated in as few as 3 lines of code. The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through hundreds of millions of cross-chain messages.
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