> For the complete documentation index, see [llms.txt](https://docs.kyte.sh/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kyte.sh/protocol/governance.md).

# Governance and roles

Who can change what, and what nobody can change.

{% hint style="success" %}
**In short.** The **timelock** owns every setting, within hard caps. Fee rates are recorded on each position, so a fee change only applies to new positions. The **guardian** can pause and disable instantly, but can never enable, unpause or move funds. **Nobody** can move collateral.
{% endhint %}

| Role         | Holder (mainnet)                                                                              | Can                                                                                                                                                                                             | Cannot                                                               |
| ------------ | --------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------- |
| **Timelock** | OpenZeppelin `TimelockController` `0xf8E6…2893`, proposer/executor = admin Safe `0x2220…220a` | List and enable tokens, set caps and min strikes, set fees (within hard caps), set split (stakers ≥ 20%), set router/adapter/keeper/bounds/destinations, set hook fee, unpause, change guardian | Move collateral; change hard caps; change fees on existing positions |
| **Guardian** | Safe `0x9F43…0EF0`                                                                            | `pause()` markets, staking and burner; disable tokens and puts, **instantly**                                                                                                                   | Unpause; enable anything; move funds                                 |
| **Keeper**   | Dedicated EOA (see `BuybackBurner.keeper()`)                                                  | `buyAndBurn` within the timelock's bounds                                                                                                                                                       | Anything else (expire and split are permissionless anyway)           |
| **Ops Safe** | Safe `0xd976…aDA5`                                                                            | Receives 50% of fees                                                                                                                                                                            | Anything in the protocol                                             |

**Timelock delay.** The live delay is whatever `getMinDelay()` returns on the timelock. At the time of writing it is **600 seconds (10 minutes)**:

```bash
cast call 0xf8E6fAF7e0E57bc91aD5C59B84FedE2Cab842893 "getMinDelay()(uint256)" --rpc-url https://rpc.mainnet.chain.robinhood.com
```

`Deploy.s.sol` supports a 48-hour delay (`TIMELOCK_DELAY=172800`). Raising the delay is a timelock operation (`updateDelay`).

**Every setting change emits an event**: `ParamChanged(key, old, new)`, `AddressChanged(key, old, new)`, `Paused`, `Unpaused`, `AssetAdded`, `AssetEnabled`, `PutsEnabled`. KyteHook emits `FeeChanged` and `FeeVaultChanged` ([Events](/protocol/events.md)).


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