A surprise LEASH rebase broke trust, so the DAO should either kill the switch or migrate to a simple LEASH v2 contract.
Fixed supply until it was not. Shiba Inu’s (SHIB) official blog let everyone know about what happened with LEASH.On August 11, balances jumped about ten percent after a long quiet period, and no, there was no friendly explanation on the homepage.
The change came through a pre-authorized path that survived ownership renouncement. A neat reminder that decentralization theater can hide wires in the walls.
The code still had a switch. The switch still worked.
LEASH holders woke up to a different number and a lot of questions after a stealth rebase that the DAO did not bless.
The mechanics are not mysterious. This token still carries classic elastic logic, so a rebase scales everyone’s balance while your slice of the pie stays roughly the same. That sounds harmless on a whiteboard. In production, a surprise rebase breaks dashboards, confuses liquidity math, and torches trust in any claim that the supply was frozen.
That is why the only sane path forward is a public process that puts decisions in the open with the DAO in charge and LEASH front and center.
There are two choices on the table. Try to negotiate a permanent stop with whoever can still pull the lever, or cut a clean line and launch LEASH v2 on a simple audited contract with no hidden roles and no elastic hooks. The second option is harder in the short term.
It means a snapshot, a claim portal, and coordination with exchanges, but it also means you do not spend the next year explaining away another midnight rebase. And it means the rules around LEASH finally match the marketing, with the DAO setting plain rules and publishing receipts.
None of this should be decided in a back room.
The DAO needs a formal proposal that lays out the audits, the migration plan, and the exact supply math. The DAO should also demand a role map that is simple enough to fit on a single page, because complexity is where these messes hide. Keep the claim ratio clear. Time box the window. Publish signatures for every step so LEASH holders can track the work.
Lesson learned.
Renounced does not mean safe if a rebase can still slip through a whitelisted caller. Trust returns when the contract gets plain, the diagrams get public, and the DAO drives the call on what happens next. If that means a fresh LEASH deploy, so be it.
It is cleaner than waiting for another midnight surprise. Pick clarity, protect holders, and make LEASH boring again so a rebase never hijacks the chart while the DAO sleeps.
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