Overview
This proposal aims to secure community support for the integration of agEUR on Linea Mainnet through Angle’s bridge infrastructure. The core Growth team at Linea is committed to positioning Angle and agEUR as the premier Euro-stable coin within the ecosystem.
About Linea
Linea is a Layer 2 solution built on Ethereum, leveraging a zkEVM tech stack developed by Consensys. The platform is the outcome of over 20 months of rigorous R&D by Consensys’s seasoned research team, known for their contributions to the zk space, including the GNARK library and active participation in the Merge. Linea is engineered to process native EVM bytecode, enabling the seamless execution of Solidity smart contracts. This compatibility extends to widely used middleware and toolsets, offering developers a familiar and robust environment for deployment.
Some of Linea’s technical value proposition includes the following:
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EVM Equivalence - Linea eliminates the need for transpilers or custom compilers, allowing Ethereum L1 Solidity code to run without modifications. This approach minimizes deployment costs by negating the need for re-audits and reduces the risk associated with bugs and hacks.
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Commitment to Decentralization - As the Linea Roadmap outlines, a clear intent is to decentralize the network. This includes a decentralized prover and sequencer structure, which network contributors, including protocols, will govern. Research on these topics are actively being conducted at Consensys.
Motivation
Linea’s mainnet has been operational for approximately three months, following a successful 5-month testnet phase that executed over 25 million transactions to stress-test the network. As of the latest data, mainnet has processed over 11.5 million transactions, with a 10-day moving average of 190,476 txs/day.
Given the rising user base and transaction volume on Linea, the integration of agEUR is a timely and strategic move. This initiative aims to establish agEUR as the premier Euro-stable coin on Linea, serving multiple objectives that enhance both ecosystems. These include:
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Market Reach and User Base Expansion - The integration will introduce Angle to new users on Linea. Further, Angle’s existing and prominent community can explore Linea’s ecosystem, thereby mutually expanding the user bases of both protocols. Consensys is also actively exploring integrations of native agEUR staking into core products, further supporting this initiative.
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Protocol Synergy and Asset Integration - Angle’s agEUR is poised to become a core asset in Linea’s future activations. Linea’s growth team actively works directly with protocol stakeholders to ensure alignment on all ecosystem activations. This also aligns with Linea’s strategic objectives to incorporate high-quality assets and protocols into its rapidly expanding ecosystem, thereby increasing asset usage and transaction volume for the Angle ecosystem.
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Technical Compatibility and Operational Efficiency - agEUR design, built on Layerzero’s OFT token standard, ensures seamless integration with Linea. This is facilitated by L0 & Linea’s early-stage support for integrating each other, which contributes to consistent support for cross-chain paradigms like this stable.
Implementation
agEUR contracts are yet to be deployed on the Linea Mainnet. Layerzero is already operational on the Linea, Please see the endpoint contract addresses here.
The administrative framework for agEUR on Linea will mirror that of other chains. Specifically, each chain will have one governor and one guardian multisig, with the signers remaining consistent across all chains, including the mainnet.
- Contract Deployment - Initiate the deployment of agEUR contracts on Linea, leveraging Layerzero Infra.
- Administrative Setup - Configure the governor (4/6) and guardian (2/3) multisig on the Linea chain, ensuring that the signers align with those on the mainnet.
- Testing and Verification - Conduct rigorous testing to ensure the deployed contracts and administrative structures function as expected.
- Community Review - Open the implementation for community review and feedback, incorporating any necessary refinements.
- Final Deployment - Upon successful testing and community approval, proceed with the final deployment of agEUR on Linea Mainnet.
Proposal Sponsor
- Emanuele Coscia, Senior Linea Growth Manager;
- Cam O’Donnell, Senior Manager - Governance Participation at Consensys & Linea
Legal
Consensys Software Inc. (“CSI”) is a private company incorporated in Delaware. As a leading Ethereum software company, ConsenSys offers a range of products to businesses, developers, and individuals engaged in Ethereum-based applications and networks.
Conflict of Interest Declaration
Consensys and the Linea network are active delegates in protocols and provide software solutions to various blockchain protocols. It is essential to clarify that no existing contractual relationships with Angle Protocol could compromise independence, either in appearance or in fact.
Risk Profile
Deploying on Linea presents a favorable risk profile, especially concerning protocol risks associated with bytecode execution. Highlighted two main observations below:
Minimal Protocol Risk for Deployment - One of Linea’s distinguishing attributes is its native handling of bytecode, which reduces protocol risk when deploying. This ensures that our deployment is efficient and secure, leveraging the inherent properties of the Linea chain.
Inherent risks in the Rollup ecosystem - It’s imperative to note that Linea is not without common risks, similar to other rollups. As provided by L2Beats:
- Centralization of Sequencer and Prover
- Multi-Signature Control Over Core Smart Contracts
Protocol security
Does the bridge support arbitrary message passing?
Through its Canonical Message Service, the Linea bridge supports passing “arbitrary messages” between Linea and other networks. This service is not limited to Linea’s core functionality but is a general-purpose, public infrastructure that developers can use and trigger by end-users.
Is the bridge secured by a trusted entity, by a multi sig, or a protocol/set of incentivized nodes? Does the bridge leverage the security of the source chain (e.g. Ethereum L1) or destination chain, or is security provided by another third party entity?
Like all bridge processes, there is the need for an off-chain actor. The core Linea team operates this relay. The Postbots, which are part of this relay, are currently centralized but will be decentralized. Further, Multisig controls upgrades to the contract but not control of value within the contract. This remains the custody of the represented asset tracked on the rollup itself. Linea also operates with a security council composed of leading technical experts in the ecosystem.
Is it possible for a fraudulent message to be passed to the destination chain? If so, are there any recall mechanisms?
The service includes an additional layer of logic that verifies the validity of messages. Specifically, when a message is sent from Ethereum to Linea, the Linea smart contract checks the message against a list of messages sent on the Ethereum side. Only after verifying its existence on the L1 does it accept the message as valid. The risk of fraudulent messages is minimized, and there is no possibility of passing a fraudulent message to the destination chain.
What are the ramifications of fraud to the malicious actor?
Given the architecture and the additional logic layer that verifies messages, a fraudulent message cannot be passed to the destination chain. Therefore, there are no ramifications for a malicious actor.
Has the bridge code been audited? By a third party?
Nearly all aspects of Linea are actively reviewed and audited by Diligence; specifically, the bridge contracts have undergone an audit by OpenZeppelin.
There is also a Linea Bug Bounty Program live on Immunefi.
Next Steps
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Per the governance process outlined in the Angle DAO documentation, the Linea core team will facilitate conversation on the forum until the discussion is considered adequate for a vote.
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The Linea team will coordinate with key stakeholders on how to assist with contract deployments.
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Upon this time, a voting period will begin with the standard quorum and time frame as required.
On request, the Linea team welcomes a community AMA to dive into the proposal!
Build on,