Security management policy
Developers > Best Yield > Security management policy
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Developers > Best Yield > Security management policy
Last updated
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IdleTokenV4, the factory contract for the Best Yield strategy is an upgradable contract that uses . Its upgradability is owned by the Timelock contract, which is controlled by IDLE token holders (as described in the section).
Each Best Yield strategy consists of a proxy that points to a shared implementation of IdleTokenV4 contracts. The implementation for each strategy can be upgraded through a shared Proxy Admin which is .
The owner of the Proxy Admin and of Best Yield strategy's proxy is the Timelock contract which is owned by the GovernorBravo, controlled by IDLE holders.
There are a few administrative privileges that the Timelock have besides the ability to upgrade IdleTokenV4 implementation logic:
It can change Idle wrappers (IdleCompound, IdleAave, ...) and associated assets supported for lending protocols;
It can add and or remove governance tokens supported for distribution;
fee and feeAddresscan be updated.
The fee is capped and can be at most 10% of the interest earned currently;
It can set maxUnlentPerc, i.e. a percentage of unlent funds used for cheap redemption (currently 1% of all deposited assets).
As part of the Security Management policy, there are 2 more functions with different privileges on the IdleToken contract
mintIdleToken and rebalance can be paused during emergency situations, while redeemIdleToken and redeemInterestBearingTokens will always be available.
Senior BY vaults
Junior BY vaults
where
Idle Labs multisig has a 2/4 threshold
Treasury League multisig has a 3/6 threshold
Development League multisig has a 3/6 threshold
Hypernative pauser multisig has a 2/5 threshold
The guardian can be changed at any time by the governance with a proposal.
multisig and pauser multisig
multisig, multisig and pauser multisig