Admin Functions
Introduction
Prisma is an immutable and fully on-chain protocol. Despite this, some minimal admin functions are retained and operated via governance.
All members on the Emergency Multisig can be found here.
Emergency Pausing
Pausing in Prisma is designed to halt all operations except those which allow collateral recovery by the user. This mechanism is designed to maximize safety while at the same time reduce collateral from being stuck due to unforeseen bugs in an immutable protocol.
This also increases users' confidence that Governance and/or Guardians cannot unduly lock their capital.
Protocol-wide
In the unlikely event of a protocol-wide catastrophic issue, these functions can be paused by a multi-sig controlled by a set of notable DeFi figures:
Opening a new vault
Increase collateral for an existing vault
Increase debt for an existing vault
Deposit
mkUSD/ULTRA
into the corresponding Stability Pool
Collateral Pausing
If there are urgent problems with a specific collateral, the guardian multi-sig can pause the Account Manager
relative to that collateral. In this case, pausing will affect the following functions:
Opening a new vault
Increase collateral for an existing vault
Increase debt for an existing vault
Unpausing
Unpausing both protocol-wide and at the collateral level can only be enacted via governance.
Setting Guardians multi-sig
Governance can vote to change the guardian multi-sig.
Changing the fee receiver
All protocol fees are directed to an address labeled fee receiver. The initial fee receiver implementation is a simple contract that allows token transfers via a governance vote. It is also possible for governance to vote to change the fee receiver address.
Changing Price Feed
In the interest of future-proofing, governance can vote to replace the protocol price feed.
Collateral sunset
Collateral sunset can be voted via governance.
Adding new collateral
Adding a new collateral can be voted via governance.
Replacing default Account Manager and Sorted Account implementations
Whenever a new collateral is added, an Account Manager
and a Sorted Account
contract are deployed as a clone of a default implementation.
Governance has the power to change said default implementations.
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