What Is a “Time-Lock” Mechanism in Smart Contract Governance?

A time-lock mechanism is a security feature that imposes a mandatory delay between when a critical governance decision (like changing a fee, upgrading a contract, or moving funds) is proposed and when it can actually be executed. For example, a 48-hour time-lock gives the community or users a window to review the proposed change, detect any malicious intent, and potentially exit the protocol or rally opposition before the action is finalized.

It prevents immediate, covert malicious changes by an administrator.