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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.
The subdocuments herein govern the management of emergencies whose resolution requires an Executive Vote.
A subset of Emergency Spells is Standby Spells.Standby Spells allow Sky Governance to bypass the GSM Pause Delay and directly perform crucial actions such as stopping an oracle, setting a debt ceiling to zero, disabling a D3M integration, or stopping liquidations for a collateral. Standby Spells or the factory contracts used to deploy them are reusable, meaning they can be executed several times if needed, or voted on again on a later date to be executed again.The subdocuments herein specify the authorized use of Standby Spells.
Sky Protocol uses circuit-breakers to mitigate undesired scenarios, which circuit-breakers are called MOM contracts. MOM contracts must first be triggered through a spell, after which they bypass the GSM Pause Delay and can immediately act on the Protocol. See .In emergency scenarios, time is a scarce resource. Therefore, Standby Spells are used in validated emergency scenarios to trigger a MOM contract. In an emergency situation, spell teams can then focus on crafting an ad hoc Emergency Spell to solve the root cause of an issue, if appropriate. Due to Standby Spells, it is no longer necessary in an emergency for spell teams to spend time crafting and reviewing a spell whose sole purpose is to trigger a mitigation of the issue, i.e., the MOM contract.Standby Spells open new attack vectors that must be mitigated pursuant to .