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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 Ceiling Increase Cooldown (
ttl) parameter controls how frequently the Debt Ceiling can be increased by the DC-IAM. If a user attempts to use the DC-IAM to increase the Debt Ceiling of a vault type before this time expires, the transaction will fail to execute and the Debt Ceiling will remain unchanged. The ttl parameter in combination with the gap parameter enforces a maximum rate at which debt usage can increase over time using a given vault type. These parameters should be set such that the maximum increase over time can accommodate all reasonable usage of the vault type in question. The ttl parameter is defined in seconds.