FraxBeacon

Overview

FraxBeacon is an upgradable beacon used within the Frax Finance ecosystem to manage implementation addresses for Beacon Proxy deployments. It allows a factory contract to deploy minimal proxies (Beacon Proxies) that forward calls to the address specified by the beacon’s implementation() function.

This architecture enables centralized upgradeability for multiple proxy contracts through a single control point.

It follows the EIP-1967 Beacon Proxy Standard (opens in a new tab) and is Ownable2Step, providing a safe ownership transfer process.

Key Features

• Central upgradeability point for all beacon-based FraxNet contracts
• Ownable2Step for secure admin transitions
• Emits event on upgrades for auditability
• Used by the FraxNetDepositFactory to deploy all FraxNetDeposit contracts

Initialization

constructor(address _owner, address _initialImplementation)

• Sets the owner (admin) and the initial logic contract.
• Can only be called once during deployment.

State Variables

Functions

implementation() → address

function implementation() external view override returns (address)

• Returns the current implementation contract.
• Used by proxies to resolve the target for delegated calls.

setImplementation(address _newImplementation)

function setImplementation(address _newImplementation) external onlyOwner

• Admin-only function to update the implementation address.
• Emits FraxBeaconImplementationUpdated.

_setImplementation(address _newImplementation)

function _setImplementation(address _newImplementation) internal

• Internal logic to update and emit event.
• Called during construction and upgrade.

Events

event FraxBeaconImplementationUpdated(address oldImplementation, address newImplementation);

Access Control

• The contract inherits from Ownable2Step.
• Only the current owner can call setImplementation.
• Ownership transfers require two steps: transferOwnership and acceptOwnership.

Usage in Frax

The FraxBeacon is primarily used by:

• FraxNetDepositFactory to manage the upgrade path for deployed FraxNetDeposit contracts.
• Enables upgrading logic of all FraxNetDeposit instances by updating this single beacon.
• Ensures that new deployments and existing proxies always reference the latest logic contract.

Notes

• Updating the beacon will immediately affect all proxies tied to it.
• Ensures scalable and gas-efficient management of upgradable contracts.
• No initialization function is required—parameters are passed via constructor.

Author: Frax Finance License: AGPL-3.0-only