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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.
The SparkLend risk parameters are temporarily controlled by Sky Core.While the risk parameters are under the control of Sky Core, they are implemented by the Stability Facilitators in consultation with the Stability Scope Advisors, as specified in the subdocuments herein.
The subdocuments herein define the SparkLend risk parameters.
The Interest Rate Model (”IRM”) is defined by four main parameters:1. Base Rate - the starting rate at 0% utilization2. Variable Slope 1 - the rate at optimal utilization3. Variable Slope 2 - the rate at 100% utilization4. Utilization - the utilization itselfThe Base Rate, Slope 1, and Slope 2 parameters are further defined in:; ; and .All markets except Dai use this IRM. The IRM for Dai is independent of utilization and is defined as a spread over the Core Stability Parameters Base Rate set forth in . The spread is determined by the Stability Facilitators, in consultation with the Stability Scope Advisors.