TAI
  • How does TAI work?
    • Overview
    • Supported Collaterals
    • Liquidations and Auctions
    • Tokenomics
    • Governance
      • Goverance Process
      • Governance Parameters
    • Rewards
    • Audits
  • TAI Protocol: In-depth
    • Contracts
      • System Contracts
        • Core Module
          • SAFE Engine
          • Liquidation Engine
          • Accounting Engine
        • Auction Module
          • Increasing Discount Collateral Auction House
          • Debt Auction House
          • Surplus Auction House
        • Oracle Module
          • Oracle Relayer
          • Medianizer
            • DSValue
            • Governance Led Median
            • Chainlink Median
          • FSM
            • Oracle Security Module
        • Token Module
          • Token Adapters
          • System Coin: TAI
          • Protocol Token: RATE
          • Protocol Token Authority
        • Money Market Module
          • Tax Collector
        • Sustainability Module
          • Stability Fee Treasury
          • FSM Wrapper
          • Increasing Treasury Reimbursement
          • Mandatory Fixed Treasury Reimbursement
        • Automation Module
          • Collateral Auction Throttler
          • Single Spot Debt Ceiling Setter
          • ESM Threshold Setter
        • Governance Module
          • DSPause
        • Shutdown Module
          • Global Settlement
          • ESM
      • Proxy Infrastructure
        • DSProxy
        • Proxy Registry
      • Helper Contracts
        • SAFE Manager
      • Contract Addresses
    • Data APIs
      • API Endpoints
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On this page
  • 1. Overview
  • 2. Component Descriptions
  • 3. Risks
  • Smart Contract Bugs
  • Misconfiguration
  • 4. Governance Minimization
  1. TAI Protocol: In-depth
  2. Contracts
  3. System Contracts

Automation Module

A set of contracts in charge with automating a GEB

PreviousMandatory Fixed Treasury ReimbursementNextCollateral Auction Throttler

Last updated 1 year ago

Relevant smart contracts:

1. Overview

The Automation Module is a set of contracts that automate parameter setting in a GEB deployment. They are meant to ease the burden of managing a system and allow the community to focus their efforts on other areas.

2. Component Descriptions

  • CollateralAuctionThrottler - this contract bounds the amount of bad debt that's waiting to be covered by collateral auctions at any given time

  • SingleSpotDebtCeilingSetter - this contract recomputes the debt ceiling for a specific collateral type by looking at the current globalDebt in the SAFEEngine

  • ESMThresholdSSetter - this contract recomputes the threshold needed to burn and trigger settlement using the ESM

3. Risks

Smart Contract Bugs

  • A bug in the CollateralAuctionThrottler could prevent the LiquidationEngine from liquidating any SAFE by setting onAuctionSystemCoinLimit to an extremely low value

  • A bug in the SingleSpotDebtCeilingSetter could set an extremely low ceiling or it could block any further ceiling updates and thus not allow the system to issue more system coins

  • A bug in the ESMThresholdSetter could set the ESM threshold to an extremely low value which would make shutdown extremely easy to execute or to a very high value which would make shutdown almost impossible to execute

Misconfiguration

  • Governance can misconfigure the throttler and make it compute extremely low values for theonAuctionSystemCoinLimit

  • Governance can also misconfigure the SingleSpotDebtCeilingSetter to the point where it stops calculating new ceilings (by setting a large delay between recalculations) or it can calculate large or low ceilings (compared to the current amount of debt in the system)

  • ESMThresholdSetter can be misconfigured and it can set extremely high or extremely low thresholds in the ESM

4. Governance Minimization

All the automation contracts are part of Level 2 governance minimization.

CollateralAuctionThrottler
SingleSpotDebtCeilingSetter
ESMThresholdSetter