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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.
This Article defines rules pertaining to Sky’s Collateral Portfolio, which consists of several different assets to ensure liquidity.
This Section governs the management of Sky’s Collateral Portfolio.
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Sky must maintain a reserve of at least 20% of the total Dai and USDS Supply held as Cash Stablecoins, or assets and exposure that can rapidly be converted to Cash Stablecoins.
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A Cash Stablecoin is defined as either a Stablecoin listed in ; a technically secure DeFi token that can be instantly converted to a listed Stablecoin; or a custody solution that can be converted into a listed Stablecoin within 30 minutes. The Stability Facilitators can modify the above cited document through the Operational Weekly Governance Cycle to react to changing market conditions, opportunities or risks. The modification of the list can include adding or removing Cash Stablecoins, or changing the terms of existing Cash Stablecoins on the list.