What is Admin key / upgrade key?
The privileged control that can upgrade, pause or drain a contract.
Many contracts are upgradeable, which means someone holds a key that can replace their code. That key is a single point of failure unless it is a timelocked multisig.
Check who holds it and how long the timelock is. A protocol with a 48-hour timelock gives users two days to exit if something is proposed.
Related terms
- Smart contractDeFi
Code deployed to a blockchain that runs automatically when its conditions are met.
- Multisignature walletSecurity
A wallet that needs several keys to approve a transaction, removing a single point of failure.
The chance that a contract's code or admin keys take your funds, regardless of price.