@txDevHub
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Supporting @txEcosystem builders, partners, and community voices. Dev resources → https://nitter.cf/t.co/d7T7dyEMMR
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Joined December 2021
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Welcome to the home for developers building on tx.
Discover technical content, builder resources, and community voices from the innovators building the future of tokenized finance.
tx Developer Hub retweeted
Introducing USTX.
The native stablecoin of the tx ecosystem will launch in October.
USTX is issued on tx chain and built for what comes next: tokenized stocks, ETFs, and other real-world assets, providing stable liquidity on their native chain.
Why a natively issued stablecoin?
Tokenized markets are only as strong as the liquidity behind them. Today much of that liquidity sits in USDC, spread across many networks. USTX concentrates it into one native balance on tx, acting as a settlement layer for assets issued there.
In traditional markets, trading and settlement are separate processes. On-chain, the asset and the payment can move together, and a native stablecoin allows that process to scale efficiently.
USTX is one of the final additions before the tx marketplace goes live: a simple way to bring dollars onto tx and use them across the assets issued there. For issuers and traders, that means deeper liquidity in one place. For the ecosystem, it means the foundation is set for those assets to arrive.
Fully backed 1:1 and issued by @brale_xyz in partnership with tx.
RT @txEcosystem: Every market needs two things: assets and liquidity.
First came the wallet, the foundation for tokenized markets.
The ne…
tx Developer Hub retweeted
Today, we are introducing tx ASCEND - a coordinated Economic Proposal designed to strengthen the economic foundation of the tx ecosystem.
ASCEND is built around three pillars:
1. Supply Discipline
2. Economic Recapture
3. Ecosystem Growth
Together, these initiatives are designed to manage new supply, connect ecosystem fees to the tx economy, and invest strategically in long-term growth.
This package does not change our near-term plans to launch tokenized equities and other RWAs - it simply strengthens the economic foundation that will support these products and the broader future of tx. (1/5)
tx Developer Hub retweeted
Proposal #46 is now live: pause PSE distributions for at least one year after November 6.
Your stake is your voice. Review the proposal and cast your vote in the tx Super App: explorer.tx.org/tx/proposals…
tx Developer Hub retweeted
One brand. Two ecosystems. One Ctrl.
CruiseControl is now Ctrl on @txEcosystem.
Ctrl is now live across both ecosystems:
→ TX: tx.ctrl.finance
→ Robinhood Chain: app.ctrl.finance
One family. One vision. You’re in Ctrl.
tx Developer Hub retweeted
Pausing PSE and capping circulating supply for a defined period of time to help stabilize the ecosystem. Official vote proposal coming soon.
tx Developer Hub retweeted
Today, we are publishing an important update on the steps we are taking to strengthen tx and to position the ecosystem for its next phase of growth. I encourage everyone across the tx ecosystem to read the article and review the details of what comes next. In summary:
1. As mentioned yesterday, all users impacted by the bridge attack will be made whole, and bridge reserves will be restored 1:1.
2. In the coming days, the tx foundation will be proposing a disciplined pause in Proof of Support Emissions, allowing demand, utility, and economic activity to catch up with supply.
3. We are developing a TX buyback program to further support the long-term health of the token economy.
4. The tx Super App has reached 125k+ downloads and referral rewards will continue as we expand adoption.
5. Development of SoloTex and TX Market continues to progress, bringing us closer to our vision of becoming the premier blockchain for real-world assets.
These developments and decisive actions are grounded in accountability, economic discipline, and execution. The foundation is being strengthened, the vision remains ambitious, and tx’s greatest opportunities still lie ahead. Onward and upward.
tx Developer Hub retweeted
The bridge between the TX Chain and XRP Ledger (XRPL) was exploited due to a bug in the XRPL relayer logic combined with the XRPL DefaultRipple feature.
The attacker constructed cross-currency XRPL payments that, due to DefaultRipple, were detected by our relayer as incoming bridge transfers even though the payments were sent to different XRPL addresses rather than the bridge vault. Due to insufficient destination validation in the relayer, these payments were incorrectly accepted as valid deposits, causing the bridge to mint corresponding assets on the TX Chain without receiving the required backing assets on XRPL.
The attacker subsequently extracted the entire unauthorized XRP supply from the TX Chain. 198,715.88 XRP was stolen in total. The other bridged assets were not materially affected and remain fully backed.
The stolen XRP was subsequently converted to ETH, bridged to Ethereum through THORChain, and the entire amount was ultimately transferred to Tornado Cash, after which direct tracing of the funds became significantly more difficult.
tx Developer Hub retweeted
The bridge between the TX Chain and XRP Ledger (XRPL) was exploited due to a bug in the XRPL relayer logic combined with the XRPL DefaultRipple feature.
The attacker constructed cross-currency XRPL payments that, due to DefaultRipple, were detected by our relayer as incoming bridge transfers even though the payments were sent to different XRPL addresses rather than the bridge vault. Due to insufficient destination validation in the relayer, these payments were incorrectly accepted as valid deposits, causing the bridge to mint corresponding assets on the TX Chain without receiving the required backing assets on XRPL.
The attacker subsequently extracted the entire unauthorized XRP supply from the TX Chain. 198,715.88 XRP was stolen in total. The other bridged assets were not materially affected and remain fully backed.
The stolen XRP was subsequently converted to ETH, bridged to Ethereum through THORChain, and the entire amount was ultimately transferred to Tornado Cash, after which direct tracing of the funds became significantly more difficult.
An update on the XRPL bridge incident.
On August 9, the tx XRPL bridge was exploited and XRP was drained from the bridge's reserve wallet on the XRP Ledger. The bridge has been halted, the vulnerability has been identified, and all potential remedies are being evaluated. This was an isolated incident and future transactions will not be impacted. Here is what happened and what we are doing about it.
What happened
The attacker exploited the bridge's deposit-detection logic. The bridge's software incorrectly registered transactions that never actually delivered any XRP to the bridge as deposits, and minted bridged XRP on the tx chain against them. The attacker then withdrew real XRP from the reserve against those unbacked balances. This bridge had undergone multiple internal and third-party audits prior to deployment and the attacker exploited a previously unidentified vulnerability.
Impact
The exploit is isolated to a single asset: bridged XRP on the tx chain, which is not currently fully backed. All other bridged assets remain fully backed. All other tokens, including funds held onchain, on centralized exchanges, and in DEXs, are unaffected.
Actions taken
• Halted the XRPL <> tx bridge.
• Identified and remedied the audited code that made the exploit possible.
• Traced the movement of the stolen funds across chains.
• Filed a formal complaint with the FBI's Internet Crime Complaint Center, including complete transaction records and additional identifying information.
• Engaged with blockchain forensics specialists and are coordinating with our security partners on the investigation.
Making this right
As we pursue all legal paths forward, we are simultaneously evaluating all options for remedying the situation for affected users.
The mechanism and timeline will be shared in a further update.
Next steps
tx intends to pursue identification and prosecution of the attacker to the fullest extent of the law. The bridge remains halted while we review and strengthen its security.
No action is currently required from holders. Be cautious of any account or site claiming to offer recovery of bridged XRP or other tokens; official updates will only come from tx channels.
tx Developer Hub retweeted
An update on the XRPL bridge incident.
On August 9, the tx XRPL bridge was exploited and XRP was drained from the bridge's reserve wallet on the XRP Ledger. The bridge has been halted, the vulnerability has been identified, and all potential remedies are being evaluated. This was an isolated incident and future transactions will not be impacted. Here is what happened and what we are doing about it.
What happened
The attacker exploited the bridge's deposit-detection logic. The bridge's software incorrectly registered transactions that never actually delivered any XRP to the bridge as deposits, and minted bridged XRP on the tx chain against them. The attacker then withdrew real XRP from the reserve against those unbacked balances. This bridge had undergone multiple internal and third-party audits prior to deployment and the attacker exploited a previously unidentified vulnerability.
Impact
The exploit is isolated to a single asset: bridged XRP on the tx chain, which is not currently fully backed. All other bridged assets remain fully backed. All other tokens, including funds held onchain, on centralized exchanges, and in DEXs, are unaffected.
Actions taken
• Halted the XRPL <> tx bridge.
• Identified and remedied the audited code that made the exploit possible.
• Traced the movement of the stolen funds across chains.
• Filed a formal complaint with the FBI's Internet Crime Complaint Center, including complete transaction records and additional identifying information.
• Engaged with blockchain forensics specialists and are coordinating with our security partners on the investigation.
Making this right
As we pursue all legal paths forward, we are simultaneously evaluating all options for remedying the situation for affected users.
The mechanism and timeline will be shared in a further update.
Next steps
tx intends to pursue identification and prosecution of the attacker to the fullest extent of the law. The bridge remains halted while we review and strengthen its security.
No action is currently required from holders. Be cautious of any account or site claiming to offer recovery of bridged XRP or other tokens; official updates will only come from tx channels.
tx Developer Hub retweeted
Every tx:native validator now has its own page. 🔍
Find yours. Read its whole record. 💚
tx Developer Hub retweeted
20,000+ downloads crossed in just a few days, with more users being tallied and verified 🚀
This is the foundation of the ecosystem taking shape. Sights set on 100K users and the marketplace rollout.
tx Developer Hub retweeted
Tokenized stocks are coming to @txEcosystem.
In my new interview, CEO @MikeMcC1uskey explains how tx's newly launched Super App is positioned at the intersection of consumer investing, regulated infrastructure and tokenization.
The full interview is now available on Youtube.
🤝 Paid partnership
tx Developer Hub retweeted
The tx app will be the Super App of tokenization.
An app that truly connects DeFi to TradFi and serves as an innovation hub for crypto, fintech, and tokenization.
This is the missing piece in tokenization: a user-friendly gateway to aggregate and access the tokenized world.
We will aim to launch stocks, real estate, commodities, collectibles, energy, sports, DeFi capabilities, prediction markets, and more from this Super App as the foundation.
Onward and upward.
tx Developer Hub retweeted
Introducing the tx Super App, now available on iOS and Android.
One self-custody app. One verified profile. One gateway to real-world assets.
Access starts here 👇
tx Developer Hub retweeted
Why bring stocks on-chain?
@jaebersole1 tx CLO and @MikeMcC1uskey tx CEO, sat down with @CryptoWendyO to break it down: access, transparency, and 24/7 markets for assets that have stayed locked behind legacy rails for decades.