Timelock
Last updated
Was this helpful?
Last updated
Was this helpful?
A Timelock contract is used by the vast majority of low-risk Yield Farms to queue transactions and add a waiting period to settings changes of a farming contract (Masterchef). This contract prevents operators from making a sudden configuration change to farms or other types of contracts that could take farmers by surprise and affect their farming strategy.
By queuing transactions, changes to the settings of a Masterchef contract take a minimum of 6 hours to be reflected in production, thus giving ample notice to farmers, and other actors, to react to configuration changes.
If you are going to enter a yield farm, make sure the ownership of the farming contract has been transferred to a Timelock contract.
More about Timelocks:
—