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Designated governance role holders control protocol parameters, permissions, and contract upgrades. Most changes follow a timelock: an authorized proposer schedules an operation, which can execute after its delay has elapsed. Some proposals also require the governance owner. A ready operation can be executed without an executor role when the call omits a named executor.

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What can change

These powers can affect an existing account after funds are supplied. Borrowing and withdrawals with debt use current listed LTV, capped by each position’s stored liquidation threshold. Stored liquidation terms follow the parameter refresh rules. Settings are not fixed for the lifetime of an account.

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Timelock delay

The governance contract defines a minimum delay measured in Stellar ledgers. The operation’s delay tier can impose a longer minimum. Ledger timing varies, so a ledger count is not an exact wall-clock duration. Use the deployed governance address and governance views to read the network’s minimum delay and a scheduled operation’s execution time. Do not assume another network uses the same delay. Scheduled operations are visible on-chain before execution. Lenders and borrowers do not vote on-chain to approve these operations; designated roles provide the authorization.

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Emergency controls

Guardians can pause or freeze activity immediately. Holders of the oracle role can tighten price sanity bands immediately. Reopening activity or widening a band requires the timelock. A protocol-wide pause blocks supply, borrow, strategies, and flash loans. Withdrawals, repayment, liquidation, and delegate revocation remain available subject to their other checks. A listing-level pause has different effects: it can block ordinary withdrawals and repayment for that asset. A frozen listing blocks entry while allowing exits. Liquidation seizure has its own halt control. See the spoke control table. Emergency controls do not erase collateral or debt, stop time-based interest accrual, or guarantee loss prevention. Contract role definitions and operation lifecycle are in the governance reference.