Technology

Timelock

A delay before privileged changes can take effect.

What it means

A timelock gives users time to see and react to contract changes before they execute.

Why it matters

Timelocks reduce surprise risk but do not remove bad-governance risk. The delay length and emergency exceptions matter.

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Technology

Smart contract

Code deployed on a blockchain that can hold assets or execute rules.

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Contract ownership

Control over privileged smart contract functions.

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Admin key

A key or account with privileged protocol permissions.

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