Proxy contracts implement roughly the same technology like smart contracts in the sense that they are self-executing, and fulfilling certain predetermined conditions triggers their realization.
But while smart contracts are immutable or “written in stone” (or written in code, to be precise), proxy contracts can be updated.
And there is a solid reason for that.
The immutability of smart contracts comes with some significant setbacks, like the inability to fix bugs or optimize fees. Proxy contracts, in turn, fulfill the role of a mechanism aimed at combating those setbacks. They act as inner intermediaries and trigger redirections to the latest, most optimized, currently valid smart contract for a token.
This mechanism allows developers to upgrade the logic of an already implemented token without needing approval from the community or even issuing a notification. And this aspect should be a grave point of attention for investors as their assets that use proxy contracts might switch their valid smart contracts practically every moment.
0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c – euroc
0xae7ab96520de3a18e5e111b5eaab095312d7fe84 – steth
0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9 – aave
0x8ab7404063ec4dbcfd4598215992dc3f8ec853d7 – akro
0x0c37bcf456bc661c14d596683325623076d7e283 – arnx
0x18aaa7115705e8be94bffebde57af9bfc265b998 – audio
0x4fabb145d64652a948d72533023f6e7a623c7c53 – busd
0x998ffe1e43facffb941dc337dd0468d52ba5b48a – idrt
0x544c42fbb96b39b21df61cf322b5edc285ee7429 – insur
0xdefa4e8a7bcba345f687a2f1456f5edd9ce97202 – knc
0x1776e1f26f98b1a5df9cd347953a26dd3cb46671 – nmr
0x75231f58b43240c9718dd58b4967c5114342a86c – okb
0x8e870d67f660d95d5be530380d0ec0bd388289e1 – usdp
0x45804880de22913dafe09f4980848ece6ecbaf78 – paxg
0x429d83bb0dcb8cdd5311e34680adc8b12070a07f – pltc
0x57b946008913b82e4df85f501cbaed910e58d26c – pond
0xec213f83defb583af3a000b1c0ada660b1902a0f – prs
0x0fd10b9899882a6f2fcb5c371e17e70fdee00c38 – pundix
0xd291e7a03283640fdc51b121ac401383a46cc623 – rgt
0x6de037ef9ad2725eb40118bb1702ebb27e4aeb24 – rndr