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Expert Wool Armadillo

Medium

Missing events/timelocks for admin only functions that change critical parameters

Summary

Owner/admin only functions that change critical parameters should emit events and have timelocks. Events allow capturing the changed parameters so that off-chain tools/interfaces can register such changes with timelocks that allow users to evaluate them and consider if they would like to engage/exit based on how they perceive the changes as affecting the trustworthiness of the protocol or profitability of the implemented financial services. The alternative of directly querying on-chain contract state for such changes is not considered practical for most users/usages.

Root Cause

Missing events and timelocks do not promote transparency and if such changes immediately affect users’ perception of fairness or trustworthiness, they could exit the protocol.

Internal pre-conditions

No response

External pre-conditions

No response

Attack Path

No response

Impact

No response

PoC

No response

Mitigation

Recommend adding events to all owner/admin functions that change critical parameters. Add timelocks to introduce time delays for critical parameter changes that significantly impact the protocol users.