IBC Rate Limiting v2.1 - Upgrade contract

Proposal Discussion DApps / Tooling
1

This proposal implements an update to the IBC Rate Limit contract administered by Osmosis governance.

IBC Rate Limits

The IBC Rate Limit module is a safety control implemented in v13, intended to protect assets on Osmosis in the event of security issues with:

  • Osmosis
  • A counter-party chain
  • IBC

Rate limits allow only a specified net percentage change in the quantity of an asset on Osmosis within a specified period.

Slowing down the rate of security incidents allows validators more time to respond, investigate, and take any required action. It either caps the rate at which exploited tokens generated elsewhere can be sent to Osmosis for disposal or prevents unusually high amounts of tokens on Osmosis from being removed.

This upgrade to the IBC Rate Limit contract adds additional checks to the existing contract while maintaining all previous functionality and states.

Target Onchain Date: 16th January 2025

2

Go for it.

IBC limits are good to have in general in case of emergency. Do we still have graphs in place how often the caps are hit (if it has hit at all)?

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3

and

Maybe what you’re after

There are also alerts set up for rate limits being hit that the IBC rate limit subDAO uses to trigger a reset. So far, there have only been a couple of times when the rate limits have been hit despite the tightening of these limits. These haven’t been overridden since the time frame for the rates resetting automatically was imminent in all cases.

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