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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 defines temporary measures for implementing the Stability Scope during the transition to the Endgame State.
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This Section defines temporary measures to give effect to the Stability Scope during the Endgame transition.
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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.
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The DC-IAM allows any user to adjust the Debt Ceiling of a supported vault type according to the rules defined in the DC-IAM smart contract logic and parameters set by the Stability Facilitators. The DC-IAM holds three parameters that can be set by Sky Governance for each vault type, (i) Maximum Debt Ceiling (
line), (ii) Target Available Debt (gap), and (iii) Ceiling Increase Cooldown (ttl).View Provenance
The
gap parameter controls how much of a gap the DC-IAM aims to maintain between the current debt usage and the Debt Ceiling of the vault type. The higher this value, the more risk there is from large collateral drops in very short amounts of time. The smaller this value, the more vault use is negatively affected. The gap parameter is defined in Dai.