#termmax @TermMax
The curator @TermMax decided to increase their commission. When will the new terms take effect? Not right away.
In Vault TermMax, such changes use an Asymmetric Timelock.
If the curator wants to:
↑ increase the performance fee
+ add a new market
↓ shorten the timelock
the change first goes into a waiting period. By default, it’s 1 day, and the timelock can be set within 1–30 days.
During this time, Vault has a separate protective role — the Guardian. It does not manage the strategy, but it can cancel the proposed change before it takes effect.
And if the change, on the contrary, reduces risk — waiting is not required:
↓ lower the performance fee — immediately
− remove the market — immediately
↑ increase the timelock — immediately
So the rule is pretty simple: you can’t increase Vault’s risk instantly, but you can decrease it.
The curator @TermMax decided to increase their commission. When will the new terms take effect? Not right away.
In Vault TermMax, such changes use an Asymmetric Timelock.
If the curator wants to:
↑ increase the performance fee
+ add a new market
↓ shorten the timelock
the change first goes into a waiting period. By default, it’s 1 day, and the timelock can be set within 1–30 days.
During this time, Vault has a separate protective role — the Guardian. It does not manage the strategy, but it can cancel the proposed change before it takes effect.
And if the change, on the contrary, reduces risk — waiting is not required:
↓ lower the performance fee — immediately
− remove the market — immediately
↑ increase the timelock — immediately
So the rule is pretty simple: you can’t increase Vault’s risk instantly, but you can decrease it.
