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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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The subdocuments herein define the process by which Sky vault users should be notified about collateral offboarding.
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The subdocuments herein specify actions to be taken by specific actors within Sky when offboarding a vault type.
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Upon approval by Sky Governance to offboard a permissionless collateral type or vault type, the following actions are taken as soon as is practicable:• Set debt ceiling to zero (0) Dai or USDS.• Make an initial public announcement on all communication channels listed in .• Make a second public announcement on all communication channels in the above cited document no later than 14 calendar days after the initial public announcement.• Once the second public announcements have been made, set the liquidation penalty to 0%.