diff --git a/Parse-Dashboard/app.js b/Parse-Dashboard/app.js
index 5ec6cc26b9..5e3ecd4ae7 100644
--- a/Parse-Dashboard/app.js
+++ b/Parse-Dashboard/app.js
@@ -5,6 +5,7 @@ const packageJson = require('package-json');
 const csrf = require('csurf');
 const Authentication = require('./Authentication.js');
 const fs = require('fs');
+const ConfigKeyCache = require('./configKeyCache.js');
 
 const currentVersionFeatures = require('../package.json').parseDashboardFeatures;
 
@@ -80,11 +81,11 @@ module.exports = function(config, options) {
     });
 
     // Serve the configuration.
-    app.get('/parse-dashboard-config.json', function(req, res) {
+    app.get('/parse-dashboard-config.json', async (req, res) => {
       const apps = config.apps.map((app) => Object.assign({}, app)); // make a copy
       const response = {
-        apps: apps,
-        newFeaturesInLatestVersion: newFeaturesInLatestVersion,
+        apps,
+        newFeaturesInLatestVersion,
       };
 
       //Based on advice from Doug Wilson here:
@@ -119,20 +120,31 @@ module.exports = function(config, options) {
           return app;
         });
       }
-
       if (successfulAuth) {
         if (appsUserHasAccess) {
-          // Restric access to apps defined in user dictionary
-          // If they didn't supply any app id, user will access all apps
-          response.apps = response.apps.filter(function (app) {
-            return appsUserHasAccess.find(appUserHasAccess => {
-              const isSame = app.appId === appUserHasAccess.appId;
-              if (isSame && appUserHasAccess.readOnly) {
+          const processedApps = await Promise.all(
+            response.apps.map(async (app) => {
+              const matchingAccess = appsUserHasAccess.find(
+                (access) => access.appId === app.appId
+              );
+
+              if (!matchingAccess) {
+                return null;
+              }
+
+              if (matchingAccess.readOnly) {
                 app.masterKey = app.readOnlyMasterKey;
               }
-              return isSame;
+
+              if (typeof app.masterKey === 'function') {
+                app.masterKey = await ConfigKeyCache.get(app.appId, 'masterKey', app.masterKeyTtl, app.masterKey);
+              }
+
+              return app;
             })
-          });
+          );
+
+          response.apps = processedApps.filter((app) => app !== null);
         }
         // They provided correct auth
         return res.json(response);
@@ -147,6 +159,14 @@ module.exports = function(config, options) {
       //(ie. didn't supply usernames and passwords)
       if (requestIsLocal || options.dev) {
         //Allow no-auth access on localhost only, if they have configured the dashboard to not need auth
+        await Promise.all(
+          response.apps.map(async (app) => {
+            if (typeof app.masterKey === 'function') {
+              app.masterKey = await ConfigKeyCache.get(app.appId, 'masterKey', app.masterKeyTtl, app.masterKey);
+            }
+          })
+        );
+
         return res.json(response);
       }
       //We shouldn't get here. Fail closed.
diff --git a/Parse-Dashboard/configKeyCache.js b/Parse-Dashboard/configKeyCache.js
new file mode 100644
index 0000000000..3b8ad9b31f
--- /dev/null
+++ b/Parse-Dashboard/configKeyCache.js
@@ -0,0 +1,22 @@
+class KeyCache {
+  constructor() {
+    this.cache = {};
+  }
+
+  async get(appId, key, ttl, callback) {
+    key = `${appId}:${key}`;
+    const cached = this.cache[key];
+    if (cached && cached.expiry > Date.now()) {
+      return cached.value;
+    }
+
+    const value = await Promise.resolve(callback());
+    this.cache[key] = {
+      value,
+      expiry: Date.now() + ttl,
+    };
+    return value;
+  }
+}
+
+module.exports = new KeyCache();
diff --git a/Parse-Dashboard/index.js b/Parse-Dashboard/index.js
index 6217df3e95..f472ec0844 100644
--- a/Parse-Dashboard/index.js
+++ b/Parse-Dashboard/index.js
@@ -13,6 +13,7 @@ const startServer = require('./server');
 const program = require('commander');
 program.option('--appId [appId]', 'the app Id of the app you would like to manage.');
 program.option('--masterKey [masterKey]', 'the master key of the app you would like to manage.');
+program.option('--masterKeyTtl [masterKeyTtl]', 'the master key ttl of the app you would like to manage.');
 program.option('--serverURL [serverURL]', 'the server url of the app you would like to manage.');
 program.option('--graphQLServerURL [graphQLServerURL]', 'the GraphQL server url of the app you would like to manage.');
 program.option('--dev', 'Enable development mode. This will disable authentication and allow non HTTPS connections. DO NOT ENABLE IN PRODUCTION SERVERS');
diff --git a/README.md b/README.md
index 08a31a0de2..01b3d47af8 100644
--- a/README.md
+++ b/README.md
@@ -131,6 +131,11 @@ Parse Dashboard is continuously tested with the most recent releases of Node.js
 | Parameter                              | Type                | Optional | Default | Example              | Description                                                                                                                                 |
 |----------------------------------------|---------------------|----------|---------|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------|
 | `apps`                                 | Array<Object> | no       | -       | `[{ ... }, { ... }]` | The apps that are configured for the dashboard.                                                                                             |
+| `apps.appId`                           | String                        | yes          | -           | `"myAppId"`            | The Application ID for your Parse Server instance.                                                                                          |
+| `apps.masterKey`                       | String \| Function         | yes          | -           | `"exampleMasterKey"`, `() => "exampleMasterKey"` | The master key for full access to Parse Server. It can be provided directly as a String or as a Function returning a String.        |
+| `apps.masterKeyTtl`                    | Number                        | no           | -           | `3600`                  | Time-to-live (TTL) for the master key in seconds. This defines how long the master key is cached before the `masterKey` function is re-triggered.                |
+| `apps.serverURL`                       | String                        | yes          | -           | `"http://localhost:1337/parse"` | The URL where your Parse Server is running.                                                                                                 |
+| `apps.appName`                         | String                        | no           | -           | `"MyApp"`              | The display name of the app in the dashboard.                                                                                               |
 | `infoPanel`                            | Array<Object> | yes      | -       | `[{ ... }, { ... }]` | The [info panel](#info-panel) configuration.                                                                                                |
 | `infoPanel[*].title`                   | String              | no       | -       | `User Details`       | The panel title.                                                                                                                            |
 | `infoPanel[*].classes`                 | Array<String> | no       | -       | `["_User"]`          | The classes for which the info panel should be displayed.                                                                                   |