🚀Incoming Kintsugi Upgrades and Governance🚀 This week, there are updates and action needed for proposals 54 + 55. Here’s everything you need to know ⬇️ 1. Proposal 55 (referendum 51) for runtime upgrade 1.17.0 has been executed 🚨This is a hard fork for Vault operators, so you need to upgrade to the 1.15.0 release immediately 🚨 Github parachain release notes: 🔗 https://github.com/interlay/interbtc/releases/tag/1.17.0 2. Proposal 54 is open for voting 🗳Proposal 54: Force one-time reward withdrawal This is free for all accounts involved but is a necessary first step in re-distributing lost rewards incurred by a previous bug 🪲 🔗https://kintsugi.subsquare.io/democracy/proposal/54 Thank you for reading. Now go participate in Kintsugi governance! 🗳🏇🏼 (and have a fantastic weekend ✌🏼)

Individual Secure Thresholds With the release of version 1.17.0 of the Kintsugi parachain, each Vault can now set an individual secure threshold. The secure threshold is a collateralization threshold that acts as a buffer above the thresholds that penalize a Vault. Being below the secure threshold incurs no penalty, but it disables the Vault's ability to accept issue requests, limiting the risk of its collateralization falling further. There is a minimum global secure threshold enforced across all Vaults. With this new feature, Vault operators can set a custom, higher threshold if they wish for a bigger security margin. Instead of disabling Vaults for new issue requests, Vaults can now set just a higher threshold to block user from issuing more BTC against their Vault. To use this new feature, please follow the docs: https://docs.interlay.io/#/vault/guide?id=setting-a-custom-secure-threshold Note: For now, this feature is only available via polkadot.js. UI integration is planned

🎥New Video🎥 The goal: completely decentralized, radically open, and trustlessly secure Bitcoin on any chain. At Interlay, thanks to this amazing community, we’re making it happen 🚀💫 How? Watch our co-founder and CEO Alexei Zamyatin’s talk from Polkadot Decoded 2022 to find out ⬇️ https://youtube.com/watch?v=1buT9r77J7Q

🗣Discussion Post🗣 Topic: Expanding Kintsugi Collators Up to this point, Kintsugi collators have been centralized to allow the team to focus on delivering kBTC Vaults. We're now proposing to fully decentralize the system by allowing anyone to become a collator after meeting certain parameters. We welcome additional suggestions and discussion 🔊 Please use the discussion post below to weigh in and help decide what values should be set for these parameters ⬇️ 🔗 https://kintsugi.subsquare.io/post/12

🔊TWITTER SPACE🔊 Join us in 44 minutes at 4:30 pm CEST / 10:30 am EST - for the first Pendulum community call on Twitter spaces Our Business Development Manager and Vault Master Chris Russel will be sharing updates along with other excellent people from the space: 🔹Tyrone Pan Product Manager of Bifrost Finance 🔹Dr. Aaron Lindner, co-founder of 0xamber The space will be hosted by Pendulum's Community Manager Jonathan Hellweg from their Twitter account. We hope to see you there! 🔗 https://twitter.com/pendulum_chain/status/1550110636167888896

🏛️Governance: Referenda #41 and #44 Executed🏛️ ✅ Referenda #41 to recover funds impacted by the unsupported Bitcoin version bug has been executed ✅ Referenda #44 to raise the griefing collateral for issue requests to 0.5% has been executed ⬇️ read the full referendas here ⬇️ https://kintsugi.subsquare.io/democracy/referendum/48

🏛Governance Proposal🏛 Set initial DOT Collateral Ceiling to 150000 DOT As the launch of iBTC approaches, understanding that the vaults have already been battle-tested on Kintsugi, we propose a higher starting DOT collateral ceiling Vote here ⬇️🗳 https://interlay.subsquare.io/democracy/proposal/6

Urgent Security Patches: Postmortem Report Kintsugi has proven its worth this week🛡 Thanks to our Immunefi Bug Bounty program, we were able to fix the vulnerabilities within 24 hours and strengthen our protocol so we can move forward with more confidence than ever. This report contains the specific vulnerabilities along with their fixes. Our plan forward includes further audits along with continued collaboration with Immunefi and whitehat hackers. Read the full report ➡️ https://interlay.medium.com/kintsugi-released-urgent-security-patches-aebf969ee087