Paladin
Other · Governance · PAL
Paladin runs Paladin Vote — a bribe marketplace for liquidity gauge incentives — and liquid locker products that wrap vote-escrow positions while retaining voting rights. PAL governs the protocol.
Vote-marketplace and liquid lockers for governance tokens.
Protocol TVL
$28.2K
Latest data · 15 min delay
Risks identified
- Smart Contract
Paladin runs multiple interacting contract systems (PalPools/PalLoans, Quest, Warlord/WAR, hPAL staking/locking). Code4rena contests found high- and medium-severity issues (e.g. 2 HIGH + 14 MEDIUM in the 2022 Holy PAL contest), so bugs in delegation, minting or reward accounting remain a core risk.
- Governance
The protocol and products (e.g. Warlord asset inclusion, resource allocation via PGM proposals) are governed by hPAL voters. Concentration of hPAL or captured proposals could redirect delegated voting power or treasury resources against smaller holders' interests.
- Counterparty
Warlord and the Autovoter delegate user voting power to a Paladin-controlled delegation address that manages CVX/AURA/vlLIQ locks and claims WETH incentives. Users rely on that operator to vote optimally and distribute rewards honestly; mismanagement or a compromised delegate address is a direct counterparty risk.
- Systemic
Paladin's revenue and product utility depend heavily on the external 'vote market' meta around Curve, Convex, Aura and Balancer. A collapse in gauge-vote demand, veTOKEN emissions, or the underlying DEXs would sharply reduce vote-incentive value flowing through Quest and Warlord.
- Collateral
WAR is backed by illiquid vote-locked CVX and AURA that unlock only on staggered schedules. Redeeming WAR queues withdrawals to each asset's unlock date, so holders face lock-up/exit-liquidity risk and potential discount to backing during stress.