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pNetwork logopNetwork




TVL of the bridge does not take into the account pTokens minted on Ethereum. These are wrapped tokens that should be backed 1:1 with their native counterparts on other chains, for example pBTC being backed by BTC on Bitcoin or pFTM backed by FTM on Fantom.

pNetwork aims to be a decentralized system facilitating cross-chain movement of assets. It is built as a simple Token Bridge that uses a single EOA address to move assets across. For a typical token transfer, "pToken" is minted on the destination chain.

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Risk summary

Note: This project's overview requires more research and might not present accurate information. If you want to contribute you can edit the information on Github. Alternatively you contact the project team on Twitter and encourage them to contribute a PR.


Principle of operation

This is a Token Bridge that locks tokens in the escrow contracts on Ethereum and mints "pTokens" on the destination network. The validation of cross-chain transactions is performed by a group of Validators running MPC protocol that control one EOA address on Ethereum.

Transfers are externally verified

External Validators observe events on pNetwork bridge and sign transfer requests on destination chain. On Ethereum a single EOA address controls such transfers.

  • Users can be censored if validators decide to stop processing certain transactions (CRITICAL).

  • Funds can be stolen if validators allow to mint more tokens than there are locked on Ethereum thus preventing some existing holders from being able to bring their funds back to Ethereum (CRITICAL).

  • Funds can be stolen if validators sign a fraudulent message allowing themselves to withdraw all locked funds (CRITICAL).

Destination tokens

Tokens transferred end up as their wrapped representation (pTokens). Note: on November 2022, due to misconfiguration, control over pGALA token on BSC was taken over by an unknown attacker that could have resulted in minting unlimited amount of unbacked pGALA tokens.

  • Funds can be stolen if destination token contract is maliciously upgraded (CRITICAL).

Permissioned Addresses

The system uses the following set of permissioned addresses:

A set of EOA addresses (different ones for different Vault contracts) that can transfer tokens and perform admin functions. It is supposed to be controlled by a group of Validator nodes in a MPC network.

PProxyAdmin 0xDc2c…ee2a

Proxy owner of ERC20Vault v2

pNetwork MultiSig 0xb597…CfDB

2/4 MSig - owner of PProxyAdmin

Smart Contracts

Note: This section requires more research and might not present accurate information.

The system consists of the following smart contracts:

pNetwork ERCVault v2 for ERC20 with special logic for handling inflation of PNT token. This contract stores the following tokens: GALA, PNT, USDT, USDC.

pNetwork ERC20Vault v1 0x9f86…968D

ERC20Vault for UOS token. This contract stores the following tokens: UOS.

pNetwork ERC20Vault v1 0x1123…8135

ERC20Vault for other ERC20 tokens. This contract stores the following tokens: WETH, LRC, BAT, DAI, ZRX, PNT.

The current deployment carries some associated risks:

  • Funds can be stolen if a contract receives a malicious code upgrade. There is no delay on code upgrades (CRITICAL).

Social mediapNetworkDefiprovablethings.medium.com@pNetworkDeFi
Source codegithub.com/provable-things


pGALA token on BSC exploit

2022 Nov 5th

Due to the misconfiguration of pGALA token on BSC the exploiter took over the control of pGALA tokens.

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Mainnet Launch of pNetwork v2

2022 Oct 18th

Whitelist got removed, there are no restrictions on who can transact with the network.

Learn more

pBTC token on BSC exploit

2021 Sep 21st

Due to the the bug in the validators code, unauthorized token transfers were processed on BTC.

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pNetwork rebranding

2020 Sep 16th

Provable Things, pTokens and Eidoo gets rebranded as pNetwork.

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pBTC launch on Ethereum

2020 Mar 5th

Launch of the first pToken, pBTC on Ethereum.

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