# Architecture

Pike's modular architecture is designed to:

* Balance risk isolation and capital efficiency, ensuring optimized liquidity management.
* Seamlessly integrate with future blockchain innovations, enabling adaptability and long-term scalability.
* Support factory-based deployments and multi-tier governance, allowing for customizable and autonomous market management.

The following diagram illustrates the smart contract architecture of Pike, showcasing the key components and their interactions within the system.

<figure><img src="/files/SeZ0LKjCmxgl3liAV96m" alt=""><figcaption></figcaption></figure>

### **Factory**

The **Factory** contract serves as the central entry point for deploying new Pike Market instances and managing market creation. It ensures a structured deployment process while maintaining a registry of deployed contracts.

**Key Functions**

* **Protocol Deployment:** The Factory acts as a single entry point for deploying new protocols.
* **Market Deployment:** Authorized **governors** can deploy new markets through the Factory.
* **Registry Management:** The Factory maintains a record of all deployed protocol instances and markets for easy reference and governance.

### **Router Proxy**

The **Router Proxy** is a static diamond proxy that enables modular, upgradeable contracts by directing function calls to specific implementation modules. It maintains a single storage layout, ensuring consistency across contract upgrades.

**Key Functions**

* **Upgradeability:** Pike leverages the Router Proxy to enable seamless contract upgrades.
* **Modular Architecture:** Calls are routed to individual modules without affecting global storage.
* **Applications:** The Router Proxy is applied to key components such as the Risk Engine and pTokens, allowing them to be updated without redeploying the entire protocol.

### **Oracle Engine**

The Oracle Engine is a core infrastructure component of Pike that manages price data configuration and retrieval for pTokens. It acts as a unified interface that routes price requests to appropriate oracle providers while supporting multiple oracle implementations and fallback mechanisms for enhanced reliability.

**Key Features**

* **Multi-Oracle Support**: Compatible with Chainlink, Pyth
* **Fallback Mechanism**: Configurable secondary oracle with price validation
* **Governance Control**: Protocol governor manages all oracle configurations
* **Price Validation**: Automatic bounds checking between main and fallback oracles

### **Governance**

Pike implements a robust governance framework using an extended OpenZeppelin Timelock contract that enforces time delays for all protocol configuration changes. The system features multiple execution paths: the **Governor** proposes routine changes through the standard time-delayed process, the **Emergency Executor** can bypass delays for critical Timelock-managed functions, and the **Emergency Guardian** operates independently with direct access to emergency protocol functions like pausing and reserve withdrawals. This multi-layered approach ensures democratic oversight for routine changes while maintaining rapid response capabilities for emergencies, with all configuration functions—including oracle settings, risk parameters, and market caps—flowing through appropriate governance channels.

**Key Features:**

* **Time-Delayed Governance**: Enforced delays provide community review periods for protocol changes
* **Emergency Bypass**: Critical actions can be executed immediately when necessary
* **Democratic Execution**: Anyone can execute approved proposals after the delay period
* **Role Separation**: Different entities handle routine governance vs. emergency responses

For more details, please refer to the Governance section.


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