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.
- 1.A new implementation address is proposed by Governance.
- 2.Proposal can be approved by Senate.
- 3.Upgrade is now allowed.
- 1.New Withdrawal Contract is proposed by the Governance with the TYPE of
- 2.Senate Approves the new Withdrawal Contract. From now on Portal references to the new implementation address
- 3.Then, anyone can call
fetchUpgradeProposal,notifies the Portal.
- 2.Portal proposes a new implementation on Withdrawal Contract with the TYPE of
- 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.
fetchUpgradeProposalis called by the Owner, the proposal is also automatically approved.
Last modified 1mo ago