Multisig & Timelock
Valas has been developed by a team of industry veterans with significant previous experience working on DeFi projects. We choose to remain anonymous, but rest assured we are qualified for the task at hand. The codebase has been well tested and peer-reviewed, almost all the code is based on Geist which has been audited two times already and proof tested over the past six months.
As Valas is based on Aave, many of the core contracts are upgradeable by the owner. We understand that anonymous devs with the power to upgrade contracts may rightfully make some users feel uncomfortable. To mitigate these concerns, ownership of all Valas smart contracts will be placed behind a Timelock contract with a two day delay for any action. Address to this contract can be found in the Deployment Addresses page and below, and we will inform the community prior to any admin-related actions involving the timelock. We encourage community members to monitor inbound transactions to the timelock.
While we have taken every precaution to ensure the safety of user funds and instill confidence in our work, we still must remind users that this is all new technology and not without risk. Do not deposit more than you can afford to lose. If you are nervous about security you may wish to wait until the protocol has been operational for some time without incident before interacting with it.
The Valas multisig is a 3/5 safe with non custodial admin rights over the Valas protocol. The multisigs can be found at those addresses:
Emergency multisig: 0xa777546b01c3937A40d191EE8d7731108086186b
Admin multisig: 0xB0F110782176d67309Be0Dfc4699D5EeA562BBF7
All admin rights to the Valas protocol are owned by a TimeLock contract with a 2 day delay. The timelock is deployed at:
The Valas team will always announce admin related actions prior to queuing them in the timelock.