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CommitmentVault V1 Compensation (CV-01)

Incident record and urgent Council proposal for the IFR that price-conditioned CommitmentVault V1 tranches can never release.

Status: urgent Council vote open, no deadline. Not approved. This page records a proposal. It does not authorize anything: no IFR is paid out before the Council approves, and every payout also needs its own executed Safe transaction. Signatures received so far are listed under Vote; results are recorded in the Council Agenda & Vote Log.

What Happened

The deployed CommitmentVault V1 (0x0719…73d3) accepts four lock types:

TIME_ONLY
PRICE_ONLY
TIME_OR_PRICE
TIME_AND_PRICE

Its price check is a placeholder that always reads a price of zero:

The deployed bytecode contains no oracle call.
Setting priceOracle through Governance cannot change that.

As a result:

PRICE_ONLY and TIME_AND_PRICE tranches can never be unlocked.
TIME_OR_PRICE tranches unlock normally after their time condition.
TIME_ONLY tranches unlock normally after their time condition.

The repository source has rejected price-conditioned locks for future deployments since September 2026. The deployed V1 predates that guard.

A Mainnet-fork simulation confirmed the result on 2 October 2026:

Governance set an oracle reporting the highest possible price, and time was advanced by ten years.
All PRICE_ONLY and TIME_AND_PRICE tranches still reported conditionMet = false.

Timeline

Verified dates only, from on-chain events and the public repository. The purpose of individual locks is not recorded and is not inferred here.

4 April 2026: CommitmentVault V1 is deployed with the placeholder price check.
June 2026: P0 is set on-chain to 300,000,000 wei per IFR (Governance proposal #16).
28 June 2026, 21:32–21:37 UTC: wallet C2 creates ten TIME_ONLY tranches (blocks 25,418,863–25,418,886).
29 June 2026, 06:59 UTC: the website publishes a self-service lock form that offers all four lock types, including price targets.
29 June 2026, 07:33 UTC: wallet C1 creates tranche #0, TIME_AND_PRICE (block 25,421,853).
29 June 2026, 22:38–22:42 UTC: wallet C3 creates tranches #0–#9, PRICE_ONLY (blocks 25,426,358–25,426,377). At 22:56 UTC, C1 creates tranche #1, TIME_OR_PRICE (block 25,426,451).
14 September 2026: the community audit (finding CWA-03) reports that the deployed price check always reads zero, so price-conditioned tranches cannot unlock. It checked C2's tranches, which are all time-based, and did not identify the price-conditioned tranches of C1 and C3.
28 September 2026: the repository source starts rejecting price-conditioned locks for future deployments.
2 October 2026: an on-chain review of every tranche identifies and quantifies the eleven affected tranches, and a Mainnet-fork simulation confirms that they can never unlock. CV-01 is opened the same day.

V1 has no rescue function and is not upgradeable. The IFR token cannot move another address's balance. Nobody can recover these tokens.

Impact Permanent

26,418,467.994338353 IFR are permanently locked in CommitmentVault V1. This is about 2.65 % of the current total supply. On 2 October 2026 the vault held 47,952,476.871794375 IFR; C2 then withdrew its ten unlocked time tranches (20,156,940.952845656 IFR). At block 26,113,577 (3 October 2026, 18:22:23 UTC) the vault held 27,795,535.918948719 IFR, of which 1,377,067.924610366 IFR are in time-based tranches that unlock normally.

Affected Tranches and Compensation Status

Each row is one locked tranche. You can verify every row with getTranches(wallet) on the vault.

Under CV-01, the compensation for a tranche would follow the conditions the tranche was locked with:

its original unlock date, where there is one;
its original price target, P0 × multiplier with P0 = 0.3 gwei per IFR.

The Conditions now column is calculated live from the current block and the IFR/WETH Uniswap V2 spot price. It is indicative only and never changes a status. A tranche turns green only when the Council has approved and a TWAP record for it has been published here: start and end blocks with their hashes, start and end times at least 7 days apart, the TWAP from the pair's cumulative prices, the reviewer, and a reproducible calculation (script, repository commit and evidence file). The record is reviewed by people; this page only checks that it is complete and consistent and does not recompute the TWAP itself.

Red Council decision pending Yellow Approved by the Council; waiting for the original conditions Green Approved, and the 7-day TWAP and date conditions verified with published blocks: payable

Wallet	Tranche	Lock type	Amount (IFR)	Original conditions	Conditions now	Status
Total permanently locked			26,418,467.994338353

Live conditions and the status column need JavaScript. Without it, the static list below shows every affected tranche with its amount and original conditions. The Council decision is recorded in the vote log below; no tranche is payable before Council approval and a verified 7-day TWAP record.

Wallet	Tranche	Lock type	Amount (IFR)	Original conditions
`0x4f63…C254`	#0	`TIME_AND_PRICE`	18,367,567.924610366	after 2026-11-29 and price ≥ 15 gwei/IFR (50 × P0)
`0xf556…905B`	#0	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#1	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#2	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#3	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#4	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#5	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#6	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#7	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#8	`PRICE_ONLY`	805,090.006972798	price ≥ 1,500 gwei/IFR (5000 × P0)
`0xf556…905B`	#9	`PRICE_ONLY`	805,090.006972805	price ≥ 1,500 gwei/IFR (5000 × P0)
Total permanently locked			26,418,467.994338353

Proposal CV-01 (urgent vote)

Scope	The 11 tranches above, 26,418,467.994338353 IFR in total. Time-based tranches are not affected.
Payout pool	LP Reserve Safe `0x5D93…6C04` (3-of-5, holds 400,600,000 IFR).
Amount	Each tranche is compensated with exactly its locked amount, credited to the wallet that locked it. The LP Reserve Safe is not fee-exempt, so the transfer is grossed up for the transfer fee. That way the wallet receives the full tranche amount; the worst case is about 27.38 M IFR gross.
Time condition	Block timestamp at or after the tranche's original unlock date. This applies only to `TIME_AND_PRICE`.
Price condition	The 7-day time-weighted average price of IFR/WETH from the Uniswap V2 pair `0xbE49…31A0` must be at or above the tranche's target. It is calculated from the pair's cumulative prices; the start and end block numbers are published with each payout. A single spot price never counts.
Execution	One Safe transaction per tranche, once its conditions are verified. Its status turns green here before the transaction is proposed, and the transaction hash is added to the vote log.
If rejected	No compensation is paid. The tranches stay recorded as permanently locked.

Vote

The Council vote is held by the Safe signers. Each signer signs the published vote text with their Safe owner wallet on Etherscan; anyone can verify each signature. The signed text refers to this proposal at repository commit f08ce370.

Council: five members, M.G., A.M., Y.K., A.P. and G.M. G.M. abstains from this vote.
Eligible: the other four, M.G., A.M., Y.K. and A.P.
Required: 3 YES votes. Until then the proposal is not approved.
Deadline: none. A deadline can only be set by a separate Council vote.
Status: vote open, 2 of 3 required YES votes received. Not approved.

Signer	Wallet	Vote	Signature
M.G.	`0x17F8…72d4`	YES	verifySig/339696
Y.K.	`0xA086…b275`	YES	verifySig/339697
G.M.	`0x6b36…Fed67`	Abstain	Recorded
A.M.	`0x0c48…ED74`	Not yet signed	—
A.P.	`0x32cF…0fE9`	Not yet signed	—

Supply Accounting

The 26,418,467.994338353 IFR stay in the total supply, because they were never burned. They are recorded as permanently locked and counted as non-circulating. Any compensation paid later moves IFR from the LP Reserve Safe to the affected wallets and is recorded in the vote log.

Repair

V1 cannot be changed. It has no pause or upgrade path.
The wiki lock form offers only time-based locks.
The production Web3 app at web3.ifrunit.tech still offers price-conditioned V1 locks. The code fix that restricts it to time-based locks is merged but not yet deployed or verified. Do not create new CommitmentVault locks in the Web3 app until that release is verified.
CommitmentVault V2 is deployed: 0x8efa…7c8F, deployed on 2 October 2026 (transaction), owned by Governance.
- It accepts TIME_ONLY locks only and rejects every price-conditioned lock, so an impossible condition cannot be created again.
- It has no price oracle and no rescue path.
V2 is not wired yet. Governance proposal #17, setFeeExempt(V2, true), is queued and can be executed from 4 October 2026, 21:53:11 UTC. Until it is executed, V2 is not fee-exempt and the interfaces keep using V1.
Price-conditioned locks need a separate proposal. A reviewed, manipulation-resistant oracle and a rescue path for conditions that can never be met are future work. Neither is part of the deployed V2.

See the decision register (lane 2).