D5
Governance & Upgradeability
Admin key concentration, timelock coverage, upgrade mechanisms, and Maximum Extractable Value by Admin (MEVA).
Weight 10%85% confidence
40
Concerning
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
Score Composition
-60
No on-chain governance, no DAO, no token voting, no timelock
+13
Single corporate entity (NASDAQ:COIN) controls ALL admin functions
+13
Any upgrade can be executed instantly
+13
Mitigating: publicly-traded with SEC reporting obligations
Evidence Chain (2 files)
GitHub APIMay 17, 2026, 06:58 PM
open_in_newGitHub (/)sha256:65bca85fe271...
BlackHart AnalysisMay 4, 2026, 02:00 PM
open_in_newGovernance & Upgradeability — Source Codesha256:7c7844977487...
Score History
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