RIADeFi
Not approved · Other

Ketju memo: Avalanche Bridge

Not approvedPublished by Ketju Research

This memo sets out what the holder owns, who controls it, how holders could lose money, and whether a position can be sold. The advisor decides any client action and amount. Not investment, legal, tax, or compliance advice.

Summary

Ketju does not approve the Avalanche Bridge: four "Wardens" control it, and one of the four is Ava Labs. No other multi-party bridge Ketju has reviewed has a group this small. The bridge is Avalanche’s original route from Ethereum to the C-Chain, used through the Core wallet. Three of the four Wardens must report identical transaction data before an Intel SGX secure enclave mints or releases funds. That group is smaller than the 4-of-7 validators of the Gnosis Chain xDAI Stake Bridge, which Ketju also does not approve. Ava Labs built and runs the network the bridge serves, and no other bridge Ketju has reviewed has that kind of related-party concentration. The bridge also depends on Intel SGX attestation, a hardware risk on top of Warden honesty.

Review triggers

  • The Warden committee expands materially, for example to seven or more independent parties, with no approving party also operating the underlying network
  • An independent, dated security audit of the current SGX enclave configuration and Warden software is published with no unresolved high-severity findings
  • The bridge moves to a design backed by an Ethereum-native fraud-proof or validity-proof system, removing dependence on Warden honesty and SGX hardware attestation
  • Twelve consecutive months with no Warden-collusion, SGX side-channel, or enclave-compromise incident

Facts

Verdict
Not approved
Type
Other
Chains examined
Ethereum
Reviewed
Last confirmed

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