Review all web3 monitoring solutions (check AAVE post)

[dapp-whisperer]

Investigate alternative solutions for web3 monitoring

[dapp-whisperer]

https://governance.aave.com/t/bgd-aave-forest/12755?u=officercia https://blog.pessimistic.io/spotters-almanac-4c594fd834d1

[sajanrajdev]

Notes from meeting with Gal, founder of Hypernative.io

• App includes transaction, governance, pricing, oracles, balances, view functions monitoring (and lots more), out of the box.
• They are partnering with Quantstamp (Close to Rick) and Chainalysis
• Machine learning monitoring feature already built to detect anomalies before the matter (backtested through all of mainnet's data and discovered all known attacks and twice as many more minutes before they occurred.
• Their algorithm detected Euler's attack before it ocurred and they notfiied the team but, given that they didn't have an automatic and active line of alerting it was too late. Still, they were the first letting them know.
• Algorithm scans all new deployed contracts and analysis them for maliciousness and links to target projects.
• They also offered to put a dashboard together for us with all the important metrics around eBTC and our Treasury Management
• They will give us a 2 week trial. @GalloDaSballo already engaged to test it out.

[sajanrajdev]

Notes from meeting with Guardrail to plan monitoring setup

Just wrapped a veeeery productive, 1.5hr long meeting with Guardrail. Went over each one of the alerts on our monitoring plan and identified the specifics on how to monitor them based on function calls, events, aggregation of data, etc..

• They will be able to monitor everything that we defined exactly as we defined it. In some cases it will require custom queries (they have a feature for this - SQL like queries from all of their data sets that can be aggregated to obtain what we want). This is specially true for those parameters that don't have a view function or are estimated through the aggregation of multiple parameters like the TCR and base rate
• They will setup everything for us and handle the migration to mainnet when it comes
• They will prioritize launching Sepolia for us. It will be ready in a week so we should be able to integrate the new version of the testnet shortly after deployment
• They are about to release a set of Gnosis Safe monitoring presets that will be useful for us
• They were very excited about eBTC and to see it come to life

Specifics on custom monitoring:

• The getTCR function takes the price as input and the system's latest price is not updated unless fetchPrice is called which ocurrs upon user interactions. So the TCR may have changed due to price fluctuations but, unless a player interacts with the system, the system's state data won't reflect this change. For this reason, Guardrail is going to take constant snapshots of the totalDebt and totalCollateral (which are available) and will use a constant snapshot of the CL price feed directly to estimate the TCR. This could also be done through a proxy contract but they have access to the three data points and can aggregate via a query off-chain.
• The baseRate. Since we removed the baseRate updates from borrowing operations, only redemptions change the base rate value. This means that, at any given time, even if the base rate virtually decayed to 0, the latest stored base rate will always be above 0. So reading the value from chain doesn't work, to get an estimate of the real time base rate you will have to look at the time stamp of the last base rate update (from the event emitted) and estimate the current rate based on the time elapsed since.

[sajanrajdev]

It was decided to pursue Guardrail as the economical and parameters monitoring solution for eBTC and investigate a different engagement with Hypernative for Security monitoring (proactive).