undefined | Better HN

0 pointsikeboy4y ago0 comments

There's a timelock where any such changes are delayed by 12 hours. So if they were to submit a transaction that people didn't like, they could exit - this significantly reduces the expected value of trying to steal funds since most of it will vanish. But it's useful to be able to tweak some parameters in case of bugs such as this.

0 comments

pavel_lishin4y ago

12 hours is not a lot of time.

And what does it mean that they could exit, when the contract itself was completely broken in the meanwhile?

ikeboyOP4y ago

It's enough time for most people to exit during normal circumstances. Sometimes longer periods are used. Definitely better than nothing.

In this case people wouldn't have been able to exit due to the bug, correct.

PragmaticPulp4y ago

> It's enough time for most people to exit during normal circumstances.

Most people don't monitor the finer details of their investments 24/7.

12 hours is better than nothing, but it's unrealistic to expect everyone to stay tapped into news feeds about their crypto at minimum twice a day.

3 more replies

j / k navigate · click thread line to collapse