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The Stability Scope governs the management of the USDS Stablecoin. The USDS Stablecoin must be a permissionless and useful currency available to anyone. Its stability and risk must be managed to generate as much value for Sky and public good as possible.
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This Article governs the secure management of Real World Assets (RWA), which serve as collateral for the USDS Stablecoin. RWAs are enforced through legal recourse by Arranged Structures and present unique risks that this Article must address.
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This Section defines procedures related to Arrangers, Ecosystem Actors that assist in the design and operation of Arranged Structures. Every Arranged Structure must have a designated Arranger responsible for conducting ongoing reporting. All aspects of this relationship, including the Arranger's duties, must be defined in this Section.
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Arrangers are Ecosystem Actors who specialize in sourcing, negotiating, structuring, and reporting on Real World Assets, as well as maintaining and monitoring the underlying Arranged Structures used by the Sky Protocol. The Arrangers manage a restricted function on the Arranged Structure Conduit that allows them to send assets onwards to the predetermined blockchain account of the Arranged Structure.Arrangers are generally prohibited from occupying any position where they could cause damage or loss to the Sky Ecoystem, notwithstanding delays or inconveniences.After the Arranged Structures are established and assets are allocated, Arrangers must not have the capability to operate or influence the legal and operational structure’s asset operations in any manner that could cause significant harm or losses to the stability of USDS. Arrangers are directly approved by SKY voters, and all LRA collateral exposure must be structured by an approved Arranger.