Upgradeability

The contract uses UUPS proxy pattern for safe upgrades.

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What is UUPS?

Universal Upgradeable Proxy Standard. The upgrade logic lives in the implementation contract, not the proxy.

Benefits:

• Cheaper deployment

• Upgrade logic can be removed permanently

• More gas efficient

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How It Works

User → Proxy → Implementation
         ↓
       State

• Proxy holds all state (balances, markets, positions)

• Implementation holds all logic

• Upgrades replace implementation, keep state

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Current Implementation

Proxy: 0xB55bf66Ba4eE488Cedb5EE49bfe4Edaf2F54b022
Implementation: [check on-chain]

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Upgrade Process

1. New implementation deployed

2. Multisig proposes upgrade

3. Timelock period (48 hours)

4. Multisig executes upgrade

5. Proxy points to new implementation

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Governance

Upgrades controlled by multisig:

• 3-of-5 threshold

• 48-hour timelock

• Public signers

No single person can upgrade unilaterally.

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Safety Measures

Storage Layout

New implementations must maintain storage layout:

// Slot 0: marketCount
// Slot 1: treasury
// Slot 2+: mappings

Changing layout = corrupted state.

Initializers

function initialize(address _treasury, address _usdc) public initializer {
    __UUPSUpgradeable_init();
    treasury = _treasury;
    usdc = IERC20(_usdc);
}

Can only be called once. Prevents re-initialization attacks.

Authorization

function _authorizeUpgrade(address) internal override onlyOwner {}

Only owner (multisig) can authorize upgrades.

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Renouncing Upgradeability

Future option: renounce upgrade capability permanently.

function _authorizeUpgrade(address) internal override {
    revert("Upgrades disabled");
}

Once deployed, no more upgrades ever. Full immutability.