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Project Overview
Timelock is the next-generation decentralized execution safeguard layer, establishing amandatory review bufferfor every critical on-chain operation. It empowers DeFi protocols, DAOs, cross-chain bridges, and multi-sig wallets to prevent instant-execution attacks and elevate the overall Web3 security standard.
Controlled by Foundation alone changed to a 9-party community multisig, Compound proposal retains EPCF purpose
community member ugurmersin has proposed an alternative to Proposal 613, suggesting that custody of the Ecosystem Protection and Continuity Fund (EPCF) and mainnet Chainlink SVR revenue be transferred from the Safe controlled by the Compound Foundation to a Community Multisig, adopting a 9-party 5/9 multisig mechanism. The proposal does not advocate shutting down the EPCF, but rather preserving its purpose, size, 48-month term, and emergency fund deployment capability.As of October 8, the EPCF held 500,000 USDC and 4.5834 million USDC deposited in cUSDCv3, while mainnet Chainlink SVR revenue held 355.95 ETH. The proposal states that the original Proposal 613 had planned to shut down the EPCF and transfer the funds to the Governor Timelock, and was canceled by the Proposal Guardian on October 7.
An address received 5 million UNI tokens—approximately $15.8 million—from the Uni Timelock contract, three months after the previous transaction.
According to on-chain analyst “Aunt Ai,” an address has received 5 million UNI tokens—worth $15.8 million—from the Uni Timelock contract for the first time in three months. This address has now accumulated a total of 10 million UNI tokens, currently held in a Coinbase custodial account.
Polygon Proposes PIP-93, Plans to Establish Unified Security Council with 8/11 Multisig and 7-Day Timelock
the Polygon community has proposed draft proposal PIP-93, which aims to consolidate the Protocol Council, Polygon PoS, and AggLayer multisigs into a unified Polygon Security Council. The council will consist of 11 signers delegated by 10 institutions, adopting an 8/11 multisig strategy covering Ethereum and Polygon; Polygon Labs holds 2 seats, with the remaining institutions each holding 1 seat. Participating institutions include Sherlock, Hexens, Sigma Prime, Curve, QuickSwap, EthCC, L2Beat, and Coinbase, among others. Routine upgrades and parameter changes can be proposed by the Polygon Labs Operations multisig through a 7-day timelock, during which the Security Council may veto, or it can bypass the timelock to execute immediately or lift contract pauses. The proposal intends to replace the governance structure established by PIP-29, disclosing only the list of institutions holding seats rather than individual signer identities; it is currently in Draft status.
Controlled by Foundation alone changed to a 9-party community multisig, Compound proposal retains EPCF purpose
community member ugurmersin has proposed an alternative to Proposal 613, suggesting that custody of the Ecosystem Protection and Continuity Fund (EPCF) and mainnet Chainlink SVR revenue be transferred from the Safe controlled by the Compound Foundation to a Community Multisig, adopting a 9-party 5/9 multisig mechanism. The proposal does not advocate shutting down the EPCF, but rather preserving its purpose, size, 48-month term, and emergency fund deployment capability.As of October 8, the EPCF held 500,000 USDC and 4.5834 million USDC deposited in cUSDCv3, while mainnet Chainlink SVR revenue held 355.95 ETH. The proposal states that the original Proposal 613 had planned to shut down the EPCF and transfer the funds to the Governor Timelock, and was canceled by the Proposal Guardian on October 7.
Related news
Polygon Proposes PIP-93, Plans to Establish Unified Security Council with 8/11 Multisig and 7-Day Timelock
the Polygon community has proposed draft proposal PIP-93, which aims to consolidate the Protocol Council, Polygon PoS, and AggLayer multisigs into a unified Polygon Security Council. The council will consist of 11 signers delegated by 10 institutions, adopting an 8/11 multisig strategy covering Ethereum and Polygon; Polygon Labs holds 2 seats, with the remaining institutions each holding 1 seat. Participating institutions include Sherlock, Hexens, Sigma Prime, Curve, QuickSwap, EthCC, L2Beat, and Coinbase, among others. Routine upgrades and parameter changes can be proposed by the Polygon Labs Operations multisig through a 7-day timelock, during which the Security Council may veto, or it can bypass the timelock to execute immediately or lift contract pauses. The proposal intends to replace the governance structure established by PIP-29, disclosing only the list of institutions holding seats rather than individual signer identities; it is currently in Draft status.
Controlled by Foundation alone changed to a 9-party community multisig, Compound proposal retains EPCF purpose
community member ugurmersin has proposed an alternative to Proposal 613, suggesting that custody of the Ecosystem Protection and Continuity Fund (EPCF) and mainnet Chainlink SVR revenue be transferred from the Safe controlled by the Compound Foundation to a Community Multisig, adopting a 9-party 5/9 multisig mechanism. The proposal does not advocate shutting down the EPCF, but rather preserving its purpose, size, 48-month term, and emergency fund deployment capability.As of October 8, the EPCF held 500,000 USDC and 4.5834 million USDC deposited in cUSDCv3, while mainnet Chainlink SVR revenue held 355.95 ETH. The proposal states that the original Proposal 613 had planned to shut down the EPCF and transfer the funds to the Governor Timelock, and was canceled by the Proposal Guardian on October 7.
YAM Finance faces governance takeover attack, attacker submits empty proposal aiming to control Timelock
Odaily News: According to Defimon monitoring, YAM Finance has suffered a governance takeover attack. The attacker self-delegated approximately 504,000 YAM tokens, accounting for about 3.3% of the total supply, slightly above the legal voting threshold, and subsequently submitted proposal #45 to YamGovernorAlpha. The proposal description is empty and only contains an operation to call the setPendingAdmin method of the YAM Timelock contract, redirecting permissions to the attacker's address. If the proposal passes and is executed, the attacker will become pendingAdmin and can then fully control the Timelock through acceptAdmin, thereby gaining administrative access to all YAM protocol contracts and the DAO treasury, involving a risk amount of approximately $337,000. As the YAM protocol is currently in a dormant state, Defimon Alerts reminds YAM holders to vote against this proposal before block height 25897343, with approximately 34 hours remaining until that block.
An address received 5 million UNI tokens—approximately $15.8 million—from the Uni Timelock contract, three months after the previous transaction.
According to on-chain analyst “Aunt Ai,” an address has received 5 million UNI tokens—worth $15.8 million—from the Uni Timelock contract for the first time in three months. This address has now accumulated a total of 10 million UNI tokens, currently held in a Coinbase custodial account.