Stably just sent out an email and put out a blog post regarding temporary halting of USDS operations given the Prime Trust acquisition by Bitgo. While things appear to be in good condition, with each USDS properly collateralized, it’s worth taking precautions.
I propose we lower the USDS cap to 0 for the stability fund, using a 2 day vote period, to prevent increasing the DAO’s exposure. Here are some relevant materials that should help mitigate any concern.
Attestation of USDS backing - https://files.stably.io/attestations/2023-05-Stably-Attestation(2023.06.01).pdf
A few screenshots of the conversation
