Multi-Sig & Timelock

We have adopted a proxy-based approach to implement contracts to prevent any unexpected issues from affecting our platform.

To enhance security, all upgrade permissions of the contract are under the control of a timelock governed by a 3/5 multi-sig held by Equilibria core contributors, as well as members of Incuba Alpha Capital, GBV Capital, and Pendle Finance.

Any contract upgrade undergoes comprehensive testing, auditing, and verification from the multi-sig signers. Following this process, an upgrade is made by the team, and the multi-sig signer proposes the upgrade with a 24-hour timelock. During the 24 hours, users can decide to stay or leave. After 24 hours, the upgrade will be effective on-chain. This approach was deemed necessary due to the many examples of mistakes leading to severe consequences for Web3 projects.

Consider, for instance, the case of Aku Dreams, which recently ended up forever locking $34M ETH in their contract. Should something similar happen with Equilibria, we could still upgrade the contract - albeit through a strict process - and allow the users to retrieve their assets.

Etheruem

Contract	Address
Multi-Sig	0x397aa01343B89F18934979824c3Ad227f251aFA0
Timelock	0xe2A63438747D2c71E14BdC2Cc222be89B1C11D03

Arbitrum

Contract	Address
Multi-Sig	0x29828F442c98AAA71A853594fEc7C0C3806f0444
Timelock	0x5C249A5F396638253470c4EaE7bc5092DDe21886