Timelock

A timelock is a smart contract feature that delays an action from taking effect until a set amount of time has passed. It matters because it gives token holders and users a window to review upcoming changes, like protocol upgrades or fund transfers, and react before they happen, rather than facing them without warning. For example, Compound's governance timelock holds approved proposals for 48 hours before execution, so if a malicious or buggy change slips through a vote, users have two days to withdraw funds or raise alarms. Many DeFi protocols and DAOs use timelocks on admin functions specifically to signal that developers can't rug users overnight. It's a trust mechanism built into code, not a promise made in words.