|
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.
View Provenance
This Article defines temporary measures for implementing the Stability Scope during the transition to the Endgame State.
View Provenance
This Section defines temporary measures to give effect to the Stability Scope during the Endgame transition.
View Provenance
The Native Vault Engine will be upgraded to support Star ownership and transferred to the first Star incubated from the Incubator. It is temporarily controlled by Sky Core.While it is under the control of Sky Core, it will have a limited set of collateral types and risk parameters that the Stability Facilitators must implement according to the following subdocuments.
The Native Vault Engine risk parameters are defined in the subdocuments herein.
View Provenance
The Liquidation Ratio parameter limits the maximum amount of Dai debt that a vault user can draw from their vault given the value of their collateral locked in that vault. In practice, it expresses the minimum collateral in percentage terms that can support a given Dai debt. If the ratio of a Vault user's collateral to their debt drops below this value, their vault can be liquidated. Each vault type has its own Liquidation Ratio. The Liquidation Ratio for each vault type is expressed as a percentage value of the collateral that must be present in the vault to support its debt.Changes to the Liquidation Ratio are subject to the Operational Weekly Cycle, requiring a Governance Poll followed by an Executive Vote.