Simple Summary

This SCCP proposes to implement the following:

1. Cover the below markets under the MMV control module, outlined in SIP-2048:

Market	MaxMarketValueUSD
DYDX	5.57
MKR	3.98
TIA	3.55
INJ	2.96
PEPE	2.72
RUNE	2.56
SHIB	1.97
BLUR	1.49
BONK	1.42
SUI	1.39
TRX	1.09
RNDR	1.08
SEI	1.06
LDO	1.01
ATOM	0.98
AAVE	0.98
DOT	0.97
APT	0.96
CRV	0.96
IMX	0.95
ALGO	0.94
WLD	0.93
FTM	0.92
FIL	0.91
NEAR	0.89
ICP	0.84
COMP	0.84
XMR	0.77
AXS	0.76
EOS	0.72
FXS	0.71
GMX	0.70
PYTH	0.67
UNI	0.64
MEME	0.62
FET	0.57
YFI	0.57
APE	0.55
SUSHI	0.53
XLM	0.52
GRT	0.51
BAL	0.49
XTZ	0.41
PERP	0.37
FLOW	0.31
MAV	0.28
RPL	0.09
JTO	0.0
ORDI	0.0

2. Adding the gnosis safe 0x4324e64d4Fa6c63900987dafBA5343155561Da96 as an endorsed account. The endorsed account is a 3 of n multisig, with 1 of the accounts being a deployer, while the rest of the accounts being the current owners on PDAO.

It is worth noting, that PDAO would only be able to stage/execute a transaction that utilizes the module, if they receive specific instructions to do so from the interim risk council, designated by the Spartan Council.

3. Unpause the MMV risk control module 0x5202A7d3d12B55Dde116f0f35c94Ca9acCD04ae6

Abstract

• setCoverage allows to configure markets that can be acted upon by the MMV risk control module.
• setEndorsedAccount allows the configuration of the account that is able to take action on the module.
• setPaused allows to unpause the MMV risk control module.

Motivation

The motivation is to enable to MMV risk module, that is able to decrease the maxMarketValue to zero, when Liquidity Providers are exposed to the risk of a market skew that can't be hedged with external exchange markets.

Note that as per SIP-2048 the interim risk council directly reports to the Spartan Council and is held accountable for actions and strategies employed that utilize the usage of the risk control module. Accountability takes the form of a presentation that lays out the status of the automated tools employed that utilize the risk control module, the prevailing configurations and any changes or alterations performed. The IRC would also present to the SC a report on all actions taken that utilize the module. The Spartan Council can at any point withdraw this responsibility from the IRC, and in such a case, the module is to be rendered deprecated by setting the modules' status into a Paused state.

Copyright

Copyright and related rights waived via CC0.