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Security management policy

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Best Yield vaults

IdleTokenV4, the factory contract for the Best Yield strategy is an upgradable contract that uses OpenZeppelin upgradability pattern. Its upgradability is owned by the Timelock contract, which is controlled by IDLE token holders (as described in the governance process 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 0x7740792812A00510b50022D84e5c4AC390e01417.

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).

Additional functions

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.

Product
Guardian

Senior BY vaults

Idle Labs multisig and Hypernative pauser multisig

Junior BY vaults

Treasury League multisig, Development League multisig and Hypernative pauser multisig

where

The guardian can be changed at any time by the governance with a proposal.

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