Nov 14, 2021
COFFIN, On Timelocks, Audit, & xCOFFIN
Timelock
Today, we are happy to announce that we’ve setup Timelock for our farm contracts & collateral.
As per our previous announcement, security is our main priority. We understand we need to have a Timelock in place for some contracts. Especially for our Collateral and MasterChef Contracts (CoffinMaker & CoffinMakerV2). However, to enable us to fix small issues immediately, we’ve postponed the measure until now.
It’s been almost a month since we launched. So we’ve decided to use Timelocks for our most important contracts.
We don’t think it’s enough. It’s just bottomline in DeFi. We understand it’s better for us to have Timelock for more contracts, no only those contracts mentioned above.
At the same time, we need to update often to improve the protocol.
This Timelock for our Collateral and our Farms are just bottomline in DeFi. Not only in relation to how we collaborate with other partners. We believe it will be good for our users as well. You can read more about our contracts in the link provided below and part of our DOCS.
On the Release of XCOFFIN
We have decided to postpone the release of XCOFFIN until the end of December to keep those coffins nice and warm for the holidays. Our standards demand that we release only a perfect product to our loyal community, and nothing less.
We cannot in good conscience release anything that is not 110% beyond our standards of perfection, and we will be elongating the timeframe on the release of XCOFFIN. During this time, not only will we work tirelessly to bring innovation and design a unique product that will exceed expectations, we we will always continue to listen to your thoughts and suggestions carefully.
On the Status of Our 2nd Audit
When we launched, we hadn’t received our secondary audit report. So some users are still asking about the status of where it stands. It has now updated, and shows very similar results.
However, we added additional contracts during the process so the audit hasn’t covered all of the contracts. So, to be as transparent as we can possibly be with all of you, it is very important to understand that the content below is production code, and just slightly different from the code which has been audited.
We also hope you understand that auditors do not worry about Timelock and some issues as much as the important pieces of code.
We believe we need to request another audit again in near future to be absolutely certain that every one of you, and ourselves, are as safe as possible while using Coffin.Finance.
https://docs.coffin.finance/security/audit
With an open heart and open arms, yours truly,
The Coffin Finance Team
