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My phone just popped up a red dot saying "Protocol upgrade has been executed."
My first reaction wasn't whether to upgrade or not, but: who actually has the final say on this...
Newbies want to see credibility, but I think don't be fooled by the words "Audited."
First, check GitHub: Are there continuous commits? Is it just a bunch of forks with the main repo empty?
Are there any critical changes reviewed by someone (even if you can't understand the code, you can tell if "someone is working on it").
Don't just look at the audit report cover logo; focus on the conclusion pages:
Are high-risk issues fixed?
Has verification of fixes been done?
Does the audit scope exclude the most sensitive upgrades/permissions?
Then there's multi-signature for upgrades:
Is the number of signatures sufficient and decentralized?
Is the threshold high?
Is there a timelock (giving you reaction time before you can run away)?
Recently, privacy coins/mixing compliance debates have been tearing apart, but it's actually the same logic:
The more centralized the authority, the more heated the narrative, and the more you should treat "control" as a risk.
Anyway, now when I see a popup, I first check permissions, or I feel uneasy.