A timelock introduces a delay between when a change is proposed and when it can take effect. This delay helps safeguard users and vaults by making critical actions visible in advance and giving time to respond before execution.

GLAM vaults support configurable timelocks on sensitive actions such as policy updates, fee changes, integration settings, and access control modifications. Timelocks can be set by the manager during deployment or while the vault is active, depending on its permissions.

Proposed changes can only be applied once all pending redemptions are fulfilled. This ensures users are not subject to modified vault parameters after submitting a redemption request.

Timelocks enhance both security and transparency:

Security

Timelocks prevent sudden or unauthorized changes.



Example: If a vault manager’s private key is compromised, an attacker might attempt to whitelist a malicious token and swap vault assets into it. With a two-day timelock enabled, the change cannot be executed immediately. This gives managers and users a two-day window to detect the action and take steps to intervene before it is applied.

Transparency

Timelocks make proposed changes visible before execution.



Example: A manager proposes increasing the annual performance fee from 20 percent to 25 percent. With a seven-day timelock enabled, the change cannot be executed immediately. This gives users and managers a seven-day window to review the proposal and decide whether to remain in the vault or redeem before the change is applied.

Timelock settings and pending changes are fully visible onchain and through the GLAM interface, ensuring auditability and informed participation. By introducing a mandatory delay, timelocks strengthen safety guarantees while preserving user choice.

The protocol does not enforce that the timelock duration must exceed the vault’s redemption period. Managers are responsible for setting appropriate configurations to ensure users have enough time to react before changes take effect.