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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 must publish monthly reporting on each Arranged Structure they have arranged. Every six (6) months, Arrangers are also required to publish a stress test analysis that demonstrates how the structures would perform under historical financial crisis scenarios and other hypothetical scenarios.The Stability Facilitators must periodically fund independent Ecosystem Actors to review and verify the quality and the results of the stress tests. Should an independent review produce an unfavorable result, the Stability Facilitators must propose a Governance Poll for warning, temporarily deactivating, or permanently offboarding the Arranger and/or the Asset Managers connected to the discovered issue.To be considered compliant, Arrangers’ monthly reports must satisfy the requirements of one of the following documents:••