Protocol Ownership Analysis

Protocol ownership analysis investigates the ultimate control over a protocol, including who holds administrative keys, multisig access, and voting power. This analysis is vital for identifying centralized risks, such as the ability for developers to unilaterally change protocol parameters or freeze assets.

It involves reviewing on-chain ownership structures and the security of the governance process. A protocol that is technically decentralized but controlled by a small group of developers through administrative backdoors is not truly decentralized.

This analysis helps users assess the counterparty risk associated with interacting with a specific protocol.