Emergency Shutdown Module
The ESM is a contract with the ability to call end.cage()
, i.e. trigger an
Emergency Shutdown (aka Global Settlement).
CGT (Curio Governance Token) holders join
their funds, which are then immediately burnt. When the ESM's
internal sum
balance is equal to or greater than the min
threshold, the ESM
can be fire
d.
It is meant to be used by an CGT minority to thwart two types of attack:
- malicious governance
- critical bug
In the former case, the pledgers will have no expectation of recovering the funds (as that would require a malicious majority to pass the required vote), and their only option is to set up an alternative fork in which the majority's funds are slashed.
In the latter case, governance can choose to refund the ESM pledgers by minting new tokens.
If governance wants to disarm the ESM, it can only do so by removing its
authorization to call end.cage()
.
fire
can be called by anyonefire
can be called only oncefire
requiressum
to be >=min
join
can only be called beforefire
- gems are burnt immediately upon
join
ing