Proxy contract tokens
Technically proxy contracts work the same way as smart contracts. They are self-executing, business automation applications that run on a decentralized network such as blockchain. Such contracts run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without an intermediary's involvement or time loss.
The proxy contract uses a custom fallback function to redirect calls to other contract implementations. Whenever contract A delegates a call to another contract B, it executes the code of contract B in the context of contract A.
Moreover, a Proxy contract stors an address of the latest deployed contract and redirects calls to that, currently valid, logic. If one upgrades the contract logic, hence deploying a new smart contract, one just needs to update the reference variable in the Proxy contract with that new contract address.
Although it is not possible to upgrade the code of your already deployed smart contract, it is possible to set up a proxy contract architecture that will allow you to use new deployed contracts as if your main logic had been upgraded. So when trading proxies, it is important to keep that in mind. Furthermore, it is easy to add one additional short function to the contract so the whole trading agreement will change without any notification. If you are a user that’s going to interact with proxy tokens it is important to consider this information and keep it in mind when making decisions
Here is a list of proxy tokens you can find on our platform