Tempo Introduces Token Burning Feature Without User Approval

The payment-focused blockchain Tempo has introduced a feature that allows the burning of held assets without separate token usage approval from users. According to the release notes published on GitHub on the 15th, Tempo included 'TIP-1006', which expands the TIP-20 token burning feature, in the mainnet T12 upgrade on the 13th. The new function 'burnAt(from, amount)' allows contracts or accounts with the dedicated permission 'BURN_AT_ROLE' to burn a specified amount of tokens from a designated address. This enables burning without the existing approval process. However, if this permission is compromised, there is a risk that user assets could be burned. According to the TIP-1006 technical documentation, holders of the BURN_AT_ROLE can burn tokens from other holders without approval, excluding protected addresses, and there is no upper limit on the amount that can be burned. Tempo warned that if an error occurs in a contract with this permission or if the related keys are compromised, tokens from accounts that are not protected could be burned. Additionally, it explained that if the same account holds both burning and new issuance permissions, it could burn tokens from other users and then issue the same amount to its own account. The burning feature cannot be executed while transactions are paused, and tokens from designated protected addresses are excluded from the burning target.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.