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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 Debt Floor parameter controls the minimum amount of Dai that can be minted using a specific vault type for an individual vault. If a user tries to mint Dai and the amount of Dai minted would not put the vault's amount of Dai minted above its Debt Floor, the transaction will fail and no DAi will be minted. Likewise, if a user attempts to pay back debt such that their debt will equal less than the Debt Floor and greater than zero, the transaction will fail and no Dai will be paid back. Each vault type has its own Debt Floor that can be adjusted by Sky Governance.