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No Time Lock
We don't use a time-lock, and here's why.

What is a time lock?

Time locks are smart contracts that delay transactions on the blockchain. They are used to ensure that there is a time-period between creating a transaction, and being able to execute it.
This is useful when a contract contains a migrator function, to update to a new contract. Our masterchef contract does not contain a migrator function, so this use-case is irrelevant.

The downsides of using a time lock

Using a time lock has many more downsides than most people think. Here's a list.
  • Every change to the contract is delayed by 6-48 hours, including token listings.
  • Calling functions through a time lock is complex and prone to errors and incorrect data
  • When a mistake during the execution of a time lock function is made (which has happened many times in the past), it takes 6-48 hours to be resolved. This means the contract might become unusable for days on end.
  • Finding the correct data to transact through the time lock is difficult, and very confusing for humans to interpret (ABI code is not readable to the human eye).
  • The only benefit of having a time lock would be that our team is forced to publicly announce changes before they are made, we are doing this regardless of a time lock, lying about execution times or changing crucial variables unannounced would destroy our reputation and therefore our project.

The upsides of NOT having a time lock

  • Without a time lock, we can list tokens to our platform and create farming pools for them at any time (crypto markets move very quickly!)
  • By being able to interact with smart contracts directly, our developers don't have to execute complex bytes data transactions, and can use readable and intelligible variables and values.
  • When a developer makes an accidental mistake during the mutation of a smart contract's variables, it can be resolved instantly.

Example of a function call - with and without time lock

The following image displays a regular contract function call:
A regular, usable, and readable function call
Here is the same function call, but through a time lock:
A time lock function call, complex, unreadable, and error-prone
We hope that this sufficiently informs you about our contracts and project.
Last modified 4mo ago