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The Governance Scope regulates the governance processes and balance of power of the Sky Ecosystem. The Governance Scope must ensure that the resilient equilibrium of Sky Governance remains protected against all potential direct and indirect threats.
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This Article governs the correct and secure execution of Sky Governance processes for deploying and reviewing Executive Votes. This Article must protect against all forms of attacks, disruption and accidental failure by maximizing the transparency and resilience of the Sky Executive Process.
This subdocuments herein define critical processes and requirements concerning the Governance Security Module (GSM) Pause Delay.
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The current exceptions to the GSM Pause Delay are specified in the subdocuments herein.
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The OSM_MOM contract manages the freezing of Sky’s oracles. The freeze functionality allows a successful governance proposal to immediately freeze the oracle price for any or all of the vault types in the Sky Protocol. Once frozen, the oracle price will remain at its current value.The oracle cannot be unfrozen without waiting for the GSM Pause Delay as part of a regular governance proposal.The risk opened up by this exceptional functionality is that the oracles may be frozen by an attacker in order to either:• Prevent an expensive liquidation.• Take advantage of a significant drop in collateral prices to mint unbacked USDS.