⚠️Limited Upgradability

Global Trustlessness

Geode Finance cannot upgrade the source code of it's contract infrastructure without the approval of their users.

This creates a more secure implementation and prevents any harmful events that can be caused by a Governance Token, thus removes the trust between users and the developers.

Limited Upgradability is used within both Portal and Withdrawal Contract.

Upgrading the Portal

  1. A new implementation address is proposed by Governance.

  2. Proposal can be approved by Senate.

  3. Upgrade is now allowed.

Upgrading Withdrawal Contracts

  1. New Withdrawal Contract is proposed by the Governance with the TYPE of WITHDRAWAL_CONTRACT_UPGRADE

  2. Senate Approves the new Withdrawal Contract. From now on Portal references to the new implementation address

  3. Then, anyone can call fetchUpgradeProposal:

    1. fetchUpgradeProposal, notifies the Portal.

    2. Portal proposes a new implementation on Withdrawal Contract with the TYPE of UPGRADE.

    3. Withdrawal Contracts pointing the old implementation enters into Recovery Mode.

    4. Owners can approve the proposal and migrate to a new implementation, exiting from the Recovery Mode.

If the fetchUpgradeProposal is called by the Owner, the proposal is also automatically approved.

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