Upgradeability

Learn more about upgradeability

Platypus Finance is implemented as a set of upgradeable smart contracts using the TransparentUpgradeableProxy pattern (OpenZeppelin + Hardhat implementation). Upgradeability is a design choice and requires trust in the ProxyAdmin owner. At early stages of the project, ProxyAdmin will be owned by Multisig.

This allows the protocol to be maintained and built without impacting user experience (minimizing manual migration of funds) nor users' generated vePTP.

It also allows the protocol to benefit from its users' feedback and effectively improve with time.

Later on, ProxyAdmin contract will be owned by Governance. This means the decision to upgrade will be voted by vePTP holders. Once the protocol is fully mature and battle-tested, governance can decide to "renounce ownership" of the ProxyAdmin contract, making it non-upgradeable and the contract logic would effectively become immutable.