Timelock
A delay between when a governance action is queued and when it executes, giving the community time to react or exit.
Compound, Aave, MakerDAO all use timelocks (typically 24-72 hours) on parameter changes and code upgrades. Critical contracts may have longer locks. Timelocks are a structural defence against Governance attack and a key input to operational-risk scoring.
Related terms
- Governance attackAn exploit that uses voting power (acquired or borrowed) to pass a proposal that drains a protocol.
- MultisigA wallet requiring m-of-n signers to authorise a transaction — the dominant operational-control pattern in DeFi.
- DAO (decentralised autonomous organisation)A blockchain-based collective that holds a treasury and makes decisions via tokenholder voting.