IdleTokenV4 is an upgradable contract and uses OpenZeppelin upgradability pattern. Each IdleToken consists of a proxy which points to a shared implementation of
IdleTokenV4 contract. The implementation for each token can be upgraded through a shared Proxy Admin which is 0x7740792812A00510b50022D84e5c4AC390e01417 . The owner of the Proxy Admin and of all IdleToken proxies is 0xE5Dab8208c1F4cce15883348B72086dBace3e64B.
All other contracts (eg
IdleRebalancer all protocol wrappers, etc) are standard contracts.
There are a few administrative privileges that we have besided of the ability to upgrade
IdleTokenV4 implementation logic:
Mint and rebalances can be paused for emergency situations but
redeemInterestBearingTokens are always available.
We can update the instance of
IdleRebalancerV3 but it's only used by
IdleToken to read allocations, it never touches funds.
We can add or change Idle wrappers (
IdleFulcrum, ...) and associated assets supported for lending protocols.
We can add or change governance tokens supported.
We can set
feeAddress. Fee is capped and can be at most 10% of the interest earned.
We can set new allocations in
IdleRebalancer through the
We can set
maxUnlentPerc ie a percentage of funds used to for cheap redeem
With the upcoming launch of Idle governance all admin powers will be then transferred to the IDLE holders.