SIP-028 Update: Alternate sBTC Signer Election Upcoming
December 12, 2024
Hey Stackers, the sBTC release is imminent! As you likely know, the community determined the initial signer set, along with parameters for these Signers to operate, via a SIP vote last month. Over time, the Signer set will become completely open. You can read more about the phases of this progression in this post from Bitcoin L2 Labs.
As core contributors make final preparations for the launch, 14 of these initial 15 Signers are ready to go. While one Signer (Figment) was unable to move forward, this possibility was accounted for in both the design of the protocol and the SIP. The network will move forward with 14 elected Signers, still requiring the originally intended 70% threshold (or 10/14 Signers) for sBTC transactions. The sBTC Signers will run a vote to replace the last signer early next year.
The process from the SIP for the other sBTC Signers to elect a replacement via vote as needed states “In the event that the sBTC Signer Set needs to be updated (for example, if a signer is no longer available to complete their responsibilities) sBTC Signers can perform a threshold vote to agree on the updated set, which would require the same 70% approval threshold as sBTC operations. This process will also be performed if a signer needs to rotate their cryptographic keys.”
This vote will take place in January, allowing the community to suggest alternates via Github in the meantime. Because the network can operate safely with 14 Signers and there are several critical network operations for the group to manage for the release, waiting until the new year will give Signers and the community time to elect a replacement while avoiding additional tasks or complexity right around the release.
Alternates must meet the requirements determined by the community
BTC Signers must meet the criteria outlined in the SIP to be eligible as the replacement. As a reminder, here are the criteria:
Why wasn’t one Signer able to move forward?
While we fully expect Figment to continue being a key supporter of Stacks going forward, internal bandwidth available to hit these admittedly tight timelines ran out. Core contributors are actively supporting Figment and we hope to see them sign in the future However, in the short term, they will need to be swapped out so the network can ensure it achieves the 15 Signers set forth by SIP-028.
Weigh in
If there's a particular Signer you'd like to nominate as a replacement, please comment on this Github Discussion.
As core contributors make final preparations for the launch, 14 of these initial 15 Signers are ready to go. While one Signer (Figment) was unable to move forward, this possibility was accounted for in both the design of the protocol and the SIP. The network will move forward with 14 elected Signers, still requiring the originally intended 70% threshold (or 10/14 Signers) for sBTC transactions. The sBTC Signers will run a vote to replace the last signer early next year.
The process from the SIP for the other sBTC Signers to elect a replacement via vote as needed states “In the event that the sBTC Signer Set needs to be updated (for example, if a signer is no longer available to complete their responsibilities) sBTC Signers can perform a threshold vote to agree on the updated set, which would require the same 70% approval threshold as sBTC operations. This process will also be performed if a signer needs to rotate their cryptographic keys.”
This vote will take place in January, allowing the community to suggest alternates via Github in the meantime. Because the network can operate safely with 14 Signers and there are several critical network operations for the group to manage for the release, waiting until the new year will give Signers and the community time to elect a replacement while avoiding additional tasks or complexity right around the release.
Alternates must meet the requirements determined by the community
BTC Signers must meet the criteria outlined in the SIP to be eligible as the replacement. As a reminder, here are the criteria:
- Proven Experience: Demonstrated history of running blockchain services and Stacks signer instances.
- High Reliability: Commitment to maintaining >99% uptime for the sBTC Signer.
- Responsive Communication: Ability to respond to urgent updates within 24 hours via a direct channel with sBTC core engineers.
- Network Contributions: Recent contributions to Bitcoin or Stacks network, such as research, development, or community involvement.
- Geographic Distribution: Location that contributes to a geographically diverse and distributed signer set.
Why wasn’t one Signer able to move forward?
While we fully expect Figment to continue being a key supporter of Stacks going forward, internal bandwidth available to hit these admittedly tight timelines ran out. Core contributors are actively supporting Figment and we hope to see them sign in the future However, in the short term, they will need to be swapped out so the network can ensure it achieves the 15 Signers set forth by SIP-028.
Weigh in
If there's a particular Signer you'd like to nominate as a replacement, please comment on this Github Discussion.