Is It a Good Idea to Have a Proxy Upgradable Contract?

5min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The idea that contracts have to be fully proxy up gradable is going to change soon. People who are not crypto native developers, perhavs donwati, development with kind of languages that are closer to the o s as the rust and cplus plus type of worlds will kind of recognize t this type of stuff is as ikes a stuff that exists in normal programming. The way governance works is you, you, as the usa. Participating governmants, who wants to make a proposal. Andgovernnc is voting on this one address change which could go to an arbitrary place in memory. There's a real beauty in immutability....

We return for the second half of our interview with Andre Cronje, a long-time DeFi developer, and creator of Yearn Finance. You can think of Yearn as a smart bank account that automatically allocates your assets to different low-risk investment strategies that execute on the Ethereum blockchain. My co-host is Tarun Chitra, the CEO and founder of Gauntlet, a company that helps stress test the incentive structures and economics of cryptocurrency protocols, especially of DeFi protocols. In this episode, we explore governance in Yearn in particular and how governance in DeFi should work in general. What roles exist, and how can we align their incentives? Is governance a feature to be tokenized and sold off, or an attack vector to be closed? How does the price of a governance token affect the security of its parent protocol? And why does Andre eventually want to retreat from being the lead developer of Yearn Finance? Yearn Finance Gauntlet Hasu's article "Is Yearn.finance safe to use?" Episode Transcript