Who can upgrade Whirlpools
Squads 5 of 9 · 24 h delay
- Type
- Squads 5 of 9
- Threshold
- 5 of 9 signers
- Signers
- 9 listed
- Time lock
- 24 h
- Config authority
- None: changes go through the multisig
- Effective delay
- 24 h delay
- Address
- BQsD…iEjF
Solana · Spot DEX
Orca
- TVL
- $300.11M
- Context only: never changes a rating
- 24h volume
- $183.81M
- −11.7% vs 7 days earlier
- Upgrade controller
- Squads 5 of 9 · 24 h delay
- Weakest control over the core programs
- Stage
- Stage 0
- 2 requirements missing for Stage 1
- Last on-chain change
- None recorded
- Snapshot 2026-10-24 · read at Solana slot 460,978,303
Six risk factors independent ratings, never combined into one score
- Upgrade controlMediumSquads v4 multisig, 5 of 9 voters, time lock 24 h
- Upgrade delayMediumtime lock 24 h
- Admin powersLow`fee_authority` can change parameters behind a 24 h time lock
- Code transparencyMediumsource public at https://github.com/orca-so/whirlpools, but the deployed build is not verified
- Oracle dependencyNot applicablethe registry lists no price feeds; the evidence is the core programs' upgrade reads
- DependenciesLowcalls no other programs with user funds
Summary
- Solana
- Spot DEX
- Squads-controlled
Orca is a spot DEX on Solana. This page shows who can change it, how fast, and the on-chain account behind every rating.
Embed the Stage badge
HTML
<a href="https://celebtir.com/protocols/orca/"><img src="https://celebtir.com/badges/orca.svg" alt="Orca on Celebtir: Stage 0"></a>Markdown
[](https://celebtir.com/protocols/orca/)Value
Show as table
| Date | TVL |
|---|---|
| 2026-10-21 | $307.33M |
| 2026-10-24 | $300.11M |
Asset groups
Asset groups unavailable: DefiLlama has no per-token breakdown for this protocol.
Tokens used
| Token | Used as | Worst rating |
|---|---|---|
| SOL | lp | Lowno freeze, pause or seize power; native to Solana; mint authority renounced: supply is fixed; no transfer restrictions |
| USDC | lp | Highbalances can be frozen by single key 7dGb…Crar; new supply can be minted by single key BJE5…5ruG |
Activity
Show as table
| Date | Volume |
|---|---|
| 2026-09-25 | $385.91M |
| 2026-09-26 | $230.79M |
| 2026-09-27 | $258.87M |
| 2026-09-28 | $416.55M |
| 2026-09-29 | $367.81M |
| 2026-09-30 | $439.04M |
| 2026-10-01 | $310.12M |
| 2026-10-02 | $415.96M |
| 2026-10-03 | $120.19M |
| 2026-10-04 | $185.44M |
| 2026-10-05 | $296.25M |
| 2026-10-06 | $288.27M |
| 2026-10-07 | $300.56M |
| 2026-10-08 | $350.68M |
| 2026-10-09 | $217.4M |
| 2026-10-10 | $118.93M |
| 2026-10-11 | $147.09M |
| 2026-10-12 | $263.96M |
| 2026-10-13 | $278.66M |
| 2026-10-14 | $289.89M |
| 2026-10-15 | $380.9M |
| 2026-10-16 | $270.09M |
| 2026-10-17 | $142.19M |
| 2026-10-18 | $177.76M |
| 2026-10-19 | $240.02M |
| 2026-10-20 | $290.75M |
| 2026-10-21 | $241.06M |
| 2026-10-22 | $231.78M |
| 2026-10-23 | $199.81M |
| 2026-10-24 | $183.81M |
Show as table
| Date | Fees |
|---|---|
| 2026-09-25 | $358.15K |
| 2026-09-26 | $214.13K |
| 2026-09-27 | $327.22K |
| 2026-09-28 | $407.31K |
| 2026-09-29 | $447.59K |
| 2026-09-30 | $402.59K |
| 2026-10-01 | $303.92K |
| 2026-10-02 | $345.36K |
| 2026-10-03 | $141.73K |
| 2026-10-04 | $198.52K |
| 2026-10-05 | $266.74K |
| 2026-10-06 | $295.64K |
| 2026-10-07 | $338.94K |
| 2026-10-08 | $349.4K |
| 2026-10-09 | $203.48K |
| 2026-10-10 | $141.78K |
| 2026-10-11 | $158.25K |
| 2026-10-12 | $300.14K |
| 2026-10-13 | $245.41K |
| 2026-10-14 | $233.91K |
| 2026-10-15 | $306.93K |
| 2026-10-16 | $206.02K |
| 2026-10-17 | $131.78K |
| 2026-10-18 | $144.21K |
| 2026-10-19 | $193.58K |
| 2026-10-20 | $254.07K |
| 2026-10-21 | $278.86K |
| 2026-10-22 | $209.37K |
| 2026-10-23 | $196.37K |
| 2026-10-24 | $198.98K |
Risk summary
- MediumCore program code can be replaced by 5 of 9 votersA multisig member with the Vote permission. Celebtir counts signers, not all members, when it compares a threshold. of multisigAn account that acts only when enough of its members approve. On Solana this is usually a Squads multisig. BQsD…iEjF.
- MediumAn approved upgrade takes effect after 24 h. Withdrawal completion within that period is not established by these configuration facts.
- MediumThe deployed code of whir…tyCc has not been verified against its public source.
Risk analysis
Upgrade control
MediumSquadsThe multisig program most Solana protocols use to hold upgrade and admin keys (version 4 is supported). v4 multisig, 5 of 9 voters, time lockA wait between approving a change and the change taking effect, which gives users time to leave. 24 h
To improve: a multisig of 5+ voters at a 60%+ thresholdHow many signers of a multisig must approve before it can act. → LOW, or make the program immutableNo key can change it: the upgrade authority was removed, or the program was deployed with a loader that cannot upgrade.
Upgrade delay
Mediumtime lock 24 h
To improve: a time lock of 5 days+ → LOW
Admin powers
Lowfee_authority can change parameters behind a 24 h time lockTo improve: none: LOW is the lowest risk level
Code transparency
Mediumsource public at orca-so/whirlpools, but the deployed build is not verified
To improve: verify the deployed build against public source (OtterSec) → LOW
Technical evidence (1 account)
- whir…tyCc verified_build Solana slot 460,978,023
Oracle dependency
Not applicablethe registry lists no price feeds; the evidence is the core programs' upgrade reads
To improve: not applicable: nothing to improve
Dependencies
Lowcalls no other programs with user funds
To improve: none: LOW is the lowest risk level
Technical evidence (1 account)
- whir…tyCc transaction sample (45 transactions) Solana slot 460,978,303
Stage
Stage 0 · 2 missing for Stage 1
StagesA protocol's headline level, from Stage 0 (the team can change everything quickly) to Stage 2 (users are protected even from the team). Stages describe control, not code security. describe who can change the protocol and how fast. They don't measure code security.
- Stage 0 (current)
- Stage 1
- Stage 2
Stage 0 3 of 3 met
- Met: core programs identified in the registry
- Met: public source for every core program
- Met: upgrade control readable for every core program
Stage 1 4 of 6 met
- Met: upgrade control rated Low or Medium
Satisfied criterion and evidence
MEDIUM: Squads v4 multisig, 5 of 9 voters, time lock 24 h
Published Stage criteria - Missing: upgrade delay of the Stage 1 minimum, unless upgrades need an emergency multisig
Unmet criterion
whir…tyCc: effective time lock 24 h; needs 5 days+ or an emergency multisig of 8+ voters at 75%+
Published Stage criteria - Met: admin powers rated Low or Medium
Satisfied criterion and evidence
LOW:
Published Stage criteriafee_authoritycan change parameters behind a 24 h time lock - Met: no multisig has a single-key config authorityA key that can change a Squads multisig's members, threshold and time lock without a vote. If it is set, it, not the multisig, is the real controller.
- Missing: verified buildsProof that the deployed program was built from a public commit, checked by OtterSec's verification service. for all core programs
- Met: every factor could be read (Unknown caps the Stage at 0)
Stage 2 1 of 2 met
- Missing: core programs immutable, or upgradeable only through on-chain governance with a long delay
- Met: no key can move or freeze user funds
Satisfied criterion and evidence
no admin keyA key stored in a protocol's own accounts that can change parameters, pause the protocol or move funds, without upgrading its code. can move or freeze funds
Published Stage criteria
Control graph
Click a box for its facts and evidenceThe on-chain account, field and slot a fact was read from, with a link to check it on Solscan.. Arrows point from who holds a power to what it controls. Controllers shared across protocols
Loading the interactive graph…
List view
- Key Single key 7dGb…Crar High
- can freeze · no delay → USDC
- Key Single key BJE5…5ruG High
- can mint · no delay → USDC
- Multisig Squads 5 of 9 · 24 h delay BQsD…iEjF Medium
- can upgrade · 24 h delay → Whirlpools
- can change parameters · 24 h delay → fee_authority
- Program Whirlpools whir…tyCc Medium
- core program → Orca
- ← Squads 5 of 9 · 24 h delay can upgrade · 24 h delay
- Admin account fee_authority 2Lec…P2NQ Low
- admin account → Orca
- ← Squads 5 of 9 · 24 h delay can change parameters · 24 h delay
- Token USDC EPjF…Dt1v High
- used as liquidity → Orca
- ← Single key can freeze · no delay
- ← Single key can mint · no delay
- Token SOL So11…1112 Low
- used as liquidity → Orca
- Protocol Orca Stage 0.
- ← Whirlpools core program
- ← fee_authority admin account
- ← USDC used as liquidity
- ← SOL used as liquidity
Permissions
Single key 7dGb…Crar
Show in control graph| Power | Over | Delay | Evidence |
|---|---|---|---|
| Freeze tokens | USDC (Circle) | no delay |
|
Single key BJE5…5ruG
Show in control graph| Power | Over | Delay | Evidence |
|---|---|---|---|
| Mint tokens | USDC (Circle) | no delay |
|
Squads 5 of 9 · 24 h delay BQsD…iEjF
Show in control graph| Power | Over | Delay | Evidence |
|---|---|---|---|
| Upgrade the code | Whirlpools | 24 h delay | |
| Change parameters | fee_authority on 2Lec…P2NQ | 24 h delay |
Held by no one
- Freeze tokens: SOL (Solana (native mint)) (renounced or immutable)
- Mint tokens: SOL (Solana (native mint)) (renounced or immutable)
Programs
| Program | Role | Loader | Upgrade controller | Verification | Last upgrade |
|---|---|---|---|---|---|
| Whirlpools whir…tyCc | Core | Upgradeable loader | Squads 5 of 9 · 24 h delay | Public source, not verified (source) | None found yet |
Upgrades & governance
- Upgrades
- 0
- Last upgrade
- None
- Average interval
- Not enough upgrades
- Last 30 days
- 0
History is still filling: 321 of 600 transactions examined so far.
No upgrades were found in the transactions examined so far.
Updates
No changes have been recorded for this protocol since tracking began.
Dependencies and sources
Called programs
The sampled transactions called no other programs with user funds.
Registry sources
- admin fee_authority 2Lec…P2NQ source
- multisig Squads v4 BQsD…iEjF source
- program Whirlpools whir…tyCc source
Registry entry last reviewed 2026-10-19 by celebtir-loop-draft. Report an error · Markdown version