Timelock on BabySwap: A New Level of Security
Good day babies!
Many have been asking about the Timelock situation, and now we are back with CertiK reports as well as good news on Timelock deployment!
What is Timelock?
A Timelock is a smart contract that is used to ensure that developers and project owners cannot make quick changes to tokens and contracts. They provide a delay mechanism that requires the changes to be queued and then executed after the required time has passed. For example, the timelock is set to 12 hours, and if the project owner makes any change towards the tokens and contracts, it will only be effective after 12 hours.
This ensures that the community is aware of upcoming changes.
BabySwap didn’t deploy a timelock before because of our unique ILO. If we deploy it in the first place, it may cause trouble for others to claim rewards after the ILO. Now that ILO has finished and users are not able to claim rewards anymore, so we decide to deploy a timelock as we planned before!
According to the recommendation CertiK provided from the last audit report:
We have deployed a 48-hour timelock on migrator.migrate after CertiK ran through our contract.
Timelock Smart Contract address: 0x48FcafA24c5599d521447713eFb4eEeEa3aF99fF
Click here for CertiK Audit (Version 6/15), and we have fixed the small issues they pointed out.
We didn’t only ask CertiK to run a full audit on our timelock contract but also are going to have long-term cooperation with CertiK as our shield to protect our babies! Stay tuned for more announcements and surprises in the future! Security is what we value the most.