> For the complete documentation index, see [llms.txt](https://docs.valantis.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.valantis.xyz/stakedhype/upgrade-and-risk-governance.md).

# Upgrade and Risk Governance

Last updated: 2026-02-23

This page defines the current governance execution model and the roadmap direction for upgrade controls.

## Current State

* Protocol execution is managed by smart contracts, without centralized custody
* Constrained operations such as staking, unstaking, and rebasing are handled by permissioned keeper functions. Keeper functions are unable to act outside of the smart contract boundaries, and never custody funds.
* Currently, protocol security upgrades are managed by multisig/role-admins
* `DEFAULT_ADMIN_ROLE` and proxy-admin ownership paths control privileged operations.
* There is currently no active on-chain veto mechanism enforcing upgrades.
* There is currently no protocol-wide on-chain upgrade timelock guarantee for proxy upgrades.

For technical role scope, see [Roles and Controls Registry](/stakedhype/roles-and-controls-registry.md).

## Roadmap Direction (Public Scope)

* Upgrade controls are expected to move toward an on-chain timelock process.
* stHYPE holder veto design direction follows a dual-governance style model, pioneered by Lido's Dual-Governance Framework
* Timelines for Dual-Governance Framework with follow the adoption of Valantis Governance in 2026.

## Governance Transparency Commitments

When governance execution is activated, public disclosures will include:

* activation status and scope,
* execution safeguards (for example quorum/threshold/timelock parameters),
* concentration-risk disclosures and change-log records.

## Current Risk Interpretation

Any voting-power concentration analysis should be interpreted as a forward-looking governance risk until token voting is actually wired to execution pathways.

Existing Multisig actions are well documented in [Registry](/stakedhype/roles-and-controls-registry.md).

See also:

* [Transparency and Risks](/stakedhype/transparency-and-risks.md)
* [Community Codes](/stakedhype/community-codes.md)