Many DeFi protocols are upgradable by an administrator. Critical settings for the protocol may be changed. Time-locked transactions (spells) have become a popular way to manage upgrades. Once a spell is cast, users have a short time before the spell becomes active. In this way, users may opt-out of upgrades by withdrawing funds before spell execution.
BUT... users can only opt-out if they know about the changes in time. This tools helps DeFi users track protocol changes.
What it does
Spells.fyi tracks time-lock transactions from origination to execution for Maker, Compound, Dharma and more.
How I built it
The Graph and React. Github:
- Code at https://github.com/blocklytics/spells-subgraph
- And https://github.com/blocklytics/spells-fyi
Challenges I ran into
I had hoped to also make the data available an on-chain. However, it does not appear possible.
Accomplishments that I'm proud of
This project combines together and presents many protocols at once in a simple way. Underneath, nearly every protocol uses a different implementation for handling time-locked transactions. I am proud of reviewing these and presenting them as a singular datasource.
What I learned
The many possible methods of time-locked transactions!
What's next for Spells.fyi