BlackHartBlackHart
Scores/Pendle V2/Provenance/Governance & Upgradeability
D5

Governance & Upgradeability

Admin key concentration, timelock coverage, upgrade mechanisms, and Maximum Extractable Value by Admin (MEVA).

Weight 10%75% confidence
60
Moderate
info

How This Score Is Built

Admin key concentration, timelock coverage, upgrade mechanisms, and Maximum Extractable Value by Admin (MEVA).

+23Strong positive
+12Positive
+5Slight positive
−15Strong negative
−8Negative
−3Slight negative

Scoring Tree

BRI Formula
300 + 700 × ∏(Dᵢ/100)^wᵢ
746
Current BRI
D5Governance & Upgradeability
Weight 10%
60
(60/100)^0.1 = 0.9502
Contributing Factors
+20VotingEscrow + GaugeController governance stack (108 + 343 functions)
+20CB-004 known finding on VotingEscrow
+20setExpiryDivisor, setInterestFeeRate, setRewardFeeRate, setTreasury -- admin-controlled
-20Team multisig with no visible timelock on emergency functions
-20Centralized parameter control for market creation and fee rates
Evidence Sources
blackhart_analysisMay 4sha256:d97bb988ad07....View
blackhart_analysisMay 17sha256:4c30c23179ed....View

Score Composition

-20

Team multisig with no visible timelock on emergency functions

Negativeopen_in_newSource CodeMay 4, 2026
-20

Centralized parameter control for market creation and fee rates

Negativeopen_in_newSource CodeMay 4, 2026
+20

VotingEscrow + GaugeController governance stack (108 + 343 functions)

Positiveopen_in_newSource CodeMay 4, 2026
+20

CB-004 known finding on VotingEscrow

Positiveopen_in_newSource CodeMay 4, 2026
+20

setExpiryDivisor, setInterestFeeRate, setRewardFeeRate, setTreasury -- admin-controlled

Evidence Chain (2 files)

GitHub APIMay 17, 2026, 06:58 PM
open_in_newGitHub (/)
sha256:4c30c23179ed...
BlackHart AnalysisMay 4, 2026, 10:00 PM
open_in_newGovernance & Upgradeability — Source Code
sha256:d97bb988ad07...

Score History

No dimension-level score changes recorded yet.

Methodology: 2.1Formula: 1.1Weights: 1.1