The Seven-Day Timelock Worked. Nobody Used It.
A Term Finance governance proposal sat on-chain for six days without a veto, then removed its own timelock and drained an estimated $8.5 million from the protocol's vaults.
Ethereum
A Term Finance governance proposal sat on-chain for six days without a veto, then removed its own timelock and drained an estimated $8.5 million from the protocol's vaults.
© 2026 BlackTree. Independent technical publication.
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