★ Sudden admin-rescue/ACL change without discussion
Circle USYC's assessment for RD-F-123 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
9 EIP-1967 proxy upgrades confirmed on the Ethereum USYC token contract (0x136471a34f6ef19fE571EFFC1CA711fdb8E49f2b) since May 2023, most recent 2025-12-09. Similar upgrades on RolesAuthorityProxy (last upgrade 2025-11-20). No public governance forum, Snapshot, DAO, or GitHub issue/PR exists for USYC. All upgrades executed by deployer EOA without observable public preceding discussion. Per PD-042 RWA context: absence of public discussion is structurally expected for a corporate-governed regulated issuer, not an anomaly. No insider-implant signal pattern observed (no suspicious rapid-change/reverse, no malicious ACL narrowing). Scored yellow not red because: (1) Circle is NYSE-listed regulated entity with BMA oversight and fiduciary duties; (2) no suspicious timing/pattern visible; (3) RWA corporate governance model makes DAO-norm comparison inappropriate per PD-042.
Sources #
- EtherscanUSYC Ethereum Token Contract - Upgrade Events - EtherscanUSYC Ethereum token contract events tab showing 9 Upgraded events from May 2023 to December 2025 executed by Hashnote Deployer EOA without observable public governance discussionretrieved 2026-05-16
Methodology #
Determine whether any admin-rescue function or ACL change was committed to the repo or executed on-chain without corresponding public discussion in issues, PRs, or governance forum.
See the full factor methodology and distribution across all protocols →