That "separate mechanism" could be as simple as a plug that tells Mix to recompile and reload. Example (designed for - and part of - the Sugar framework, but should theoretically work for any Plug-based app, including Phoenix-based ones): https://github.com/sugar-framework/plugs/blob/master/lib/sug...
Hot upgrades like this are not foolproof (which is likely the reason why the above example is gated to :dev environments); there are other concerns like database migrations and other internal and external variances that make this inappropriate for most production situations. That said, these same concerns often exist for other high-availability situations as well, so if you know that you want zero-downtime code upgrades, figuring out a way to do it cleanly within the application is likely valuable as a way to avoid the hell on Earth that is trying to do this with, say, a bunch of load-balanced Docker comtainers.
