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πŸ”’ Decommissioning / Retirement

(end of life)

An emergency β€œVault Stop” proposal may be used to retire or decommission a vault. Vault Stop disallows the vault contract from accepting new funds.

Smart contracts don’t have authority over other contracts unless this has been predetermined. Vault contracts on the Y-Foundry platform have code to allow a decommissioning process to happen. All relevant vaults on Y-Foundry have standardized requirements to be able to stop the vault and liquidate the vault when necessary. Only the Y-Foundry Forge contract has the authority to execute a vault stop command.

Possible scenarios where this could be useful:

  • An exploit has been discovered. This could help mitigate some of the damage while a solution is being explored.

  • An underlying protocol has failed. The Y-Foundry DAO can call a vote to allow users to claim their deposited assets regardless of the state of external protocols.