Can the Rebase Mechanism in a Smart Contract Be Changed?
Whether or not the rebase mechanism in a smart contract can be changed depends on the specific design of the protocol. Some rebase token smart contracts are designed to be immutable, meaning that the code cannot be changed once it has been deployed to the blockchain.
Other protocols have a governance mechanism that allows the community to vote on changes to the smart contract, including the rebase mechanism. The ability to change the rebase mechanism can be a double-edged sword, as it can be used to improve the protocol or to introduce malicious changes.
Glossar
Rebase
Mechanism ⎊ Rebase operations, within cryptocurrency and derivatives, represent a revision of the blockchain’s history, altering the base from which future blocks are built; this differs fundamentally from a hard fork, maintaining chain continuity while rewriting commit history.
Rebase Mechanism
Mechanism ⎊ A supply adjustment technique where the total number of outstanding tokens is proportionally altered across all holders based on a predetermined algorithmic rule set.
Rebase Token Projects
Ecosystem ⎊ Rebase Token Projects are decentralized finance initiatives that utilize the elastic supply mechanism as their primary method for maintaining price stability or managing network resource allocation.
Rebase Token Smart Contracts
Contract ⎊ Rebase token smart contracts are specialized agreements that automatically adjust the total supply of a token in circulation based on market price fluctuations.
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.