CherrySwap will add TimeLock contract to Migrate permission of Master Chef
We have noticed that community users are concerned about the CherrySwap administrator (core developer) holding Master Chef’s Migrate permission, and we hereby issue this announcement as an explanation. The details are as follows:
1. The reason why CherrySwap reserves the Migrate permission of Master Chef is to facilitate smart contract upgrades without affecting the user experience.
2. CherrySwap has already passed the security audit of smart contracts by three well-known audit institutions at the Testnet stage, and conducted a second audit when the Mainnet went live. The audit report can be obtained here:
3. In order to eliminate the concerns of the community, CherrySwap expects to transfer all permissions of Master Chef to the TimeLock contract.
Timelock: This is a smart contract that delays the change to take effect, that is, every contract change by the administrator (core developer) needs to be delayed by Timelock until 48 hours before it takes effect.
The advantage is that anyone can see all contract changes in advance and has a 48-hour response time.
In other words, when you find any suspicious contract changes, you can make reasonable arrangements for your personal assets before the contract changes take effect (48 hours).
TimeLock contract is expected to be added before August 10.
4.For news about CherrySwap, please pay attention to the following official channels and don’t believe rumors.