The Optimism (OP) Network is set to temporarily suspend Ethereum (ETH) withdrawals on Thursday, February 15, starting at 9:00 AM ET.
The planned one-hour break is key to a broader strategy. It aims to improve the network’s defense against security threats.
Optimism Network plans to pause Ethereum withdrawals
The pause, announced by Optimism, will facilitate essential maintenance work and the implementation of a significant protocol upgrade.
“On Thursday, February 15 at 9 a.m. ET (6 a.m. PT), OP Mainnet will be paused as part of a scheduled one-hour maintenance window. During the break, the retreat to L1 is rejected. The network will resume at 10 a.m. ET (7 a.m. PT), Optimism announced.
OP Labs first suggested the upcoming upgrade on January 25. An important part is the new SuperchainConfig contract. This innovative feature is intended to grow with the Superchain and add new skills over time. Not to mention, this contract has been working well on OP Sepolia since December 11, 2023.
At the heart of this upgrade lies the improved ability to effectively manage security incidents across all OP chains. Indeed, the Superchain, with its intricate web of interconnected chains, presents unique security challenges.
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Amount lost due to security incidents in 2023. Source: DefiLlama
The upgrade introduces a Superchain-wide pause mechanism. The goal is to reduce risks by providing a unified and robust response. This is especially true for key areas such as the L1CrossDomainMessenger and withdrawals for ERC-20 and ERC-721 tokens.
This strategic improvement is not just about strengthening individual chains, but about leveraging the collective security power of the entire Superchain. The upgrade focuses on L1 smart contracts so that node administrators and users experience no disruptions or action requirements.
It builds on the existing network pause feature on OP Mainnet and introduces a unified SuperchainConfig contract that improves pause functionality, providing stronger security guarantees for all ETH, ERC-20, and ERC-721 tokens within the standard bridges.
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The authority to introduce or remove these pauses lies with the Optimism Foundation multisig, which applies to all OP Chains that choose this mechanism. This “all-or-nothing” approach to recording pausing ensures a coherent and timely response to any discovered vulnerabilities, underscoring the importance of a synchronized security protocol across the Superchain.