[Action Plan] Upgrades to Fix Reading of Contract Balances (e.g., USDT)

Context

Starting October 15, the indexers of IoTeX nodes began exhibiting degraded service due to high network traffic. Users may have experienced slow/failed readings of certain smart contracts, which prevented some Dapps (e.g., mimo, ioTube) from reading token balances of certain assets (e.g., USDT). We have identified the issue, which is limited to the READ operations of certain smart contracts. We have developed a fix that will show token balances normally, which will be rolled out via the action plan below.

Action Plan

The core team has developed new releases (Mainnet v1.5 + v1.6) to address the above issue in two phases. We are actively coordinating with IoTeX Delegates to drive this action plan:

  • Today: Delegates have installed Mainnet v1.5, which will be activated at block height 13,816,441 (Oct 19 @ ~1pm UTC). This upgrade will ensure the node-indexer issue does not impact other smart contracts, and will also initiate foundation bonus rewards as voted by the community.
  • By Oct 20: a patch will be installed to our API nodes so USDT and other impacted contracts’ balances can be read normally.
  • By Oct 24: we will start coordinating with Delegates to install Mainnet v1.6 to their nodes, which will remedy all impacted smart contracts like USDT.
  • [UPDATE] By Oct 28: Mainnet v1.6 has been finalized (as of Oct 23) and will will be activated Thursday, Oct 28 (evening PDT). We are now coordinating with our Delegates to install to their nodes. All transactions (swap/pool/bridge) for USDT will be available after Mainnet v1.6 is live.

Questions?

We will post status updates in this thread throughout the week. Thanks to our Delegates for your timely support and the community for your patience as we resolve this issue. Please drop any questions below in the comments or reach out to an Admin on Telegram or Discord.

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