Project Introduction
Mithras Labs is a development company specialized in DeFi, and the builders behind both Paladin and Rings. Our goal is to build primitives enabling more liquidity in the ecosystem. With this Silo Vault we aim to streamline Rings scUSD staking operations and experiment around curation.
This Silo Vault will start with a single flagship vault for scUSD that will be bootstrapped via the scUSD staking liquidity.
Team Introduction
Figue
Non-technical co-founder - Core contributor at Paladin;
Kogaroshi
CTO / smart contract dev - Core contributor at Paladin;
Gaardur
Lead Dev - Core contributor at Paladin;
BĂ©guin
Lead Analyst - Core contributor at Paladin;
Vault Type
Rings Maxi
Rings Maxi is the dedicated vault to allocate scUSD liquidity from staking to be lent against whitelisted assets.
The following markets are initially whitelisted:
- S-scUSD [15]
- PTaUSDC-scUSD [46]
- sfrxUSD-scUSD [48]
- wstkscETH-scUSD [UPCOMING]
Security and Risk Management
Security Management
Mithras Labs curator address is a 3 of 5 multi-sig with core contributors from Mithras Labs.
Each named address executes transactions on a standalone device via a hardware wallet.
By default, a 24-hour timelock is set for changing supply caps, adding markets, and changing timelock durations. These actions will be pre-announced on socials to give depositors ample time to adjust liquidity if desired.
The guardian address is controlled by Paladin’s DAO. They have veto control only on changing supply caps, removing markets, and changing timelock durations.
Risk Management
Mithras Labs’ Risk Framework defines counterparty token types that may be considered for whitelisting in a given vault.
Each prospective market is reviewed for oracle suitability, on-chain liquidity, redemption functions, and other idiosyncracies. If suitable, the vault will initiate the whitelisting process followed by the 24-hour time lock.
A global cap of $40m per vault will be set initially with market-specific caps for liquidity allocations. If caps are to be raised, this will be communicated with the community before the 7-day timelock begins.
