Suggestions for how to handle blackswan

[JUSTISBEN]

Now we have the SM, but i still think we should make something more clearly and make more details:

Very very important things:

System risk control mechanism

When the blackswan happened, the blackswan account should move all the rest debt, collateral and reward to System risk control mechanism, the blackswan account‘s debt and collateral will and must become zero.

System risk control mechanism:

1. It is a pool which handle the blackswan debt, collateral and reward;
2. User can settle this pool;
3. The settlement price = the debt / the collateral;

The blackswan:

When a account： 1.10 * the vaule of collateral < the debt;

1.10:

Liquidation Incentive Rate + 100%

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Issue a kind of RISK BONDS for shortfall.

We have sustainable revenue and can cover most of shortfall over time.

First:
Issue BONDS for shortfall;
Sell bonds in an open auction to get a sufficient amount of funds–redeem the lending assets of system;

Second:
The income of protocol redeems the BONDS every month;
Design a exchange feather pool for free redemption, the income of protocol will inject into this pool every month;

The BONDS will have a 12% basic APY, the holders of BONDS can redeem their bonds from this pool.
We also can design another mining pool for these BONDS, they will get XVS distribution.

So, the holders of BONDS will have 12% basic APY and XVS distribution, i think this will be more better.

The only problem is what we should issue? the BONDS to collect BUSD/USDT or the shortfall assets?

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Besides:
We should add VAI stable fees (to pull back VAI to 1, this is the only way to pull back VAI to 1) and settlment fees ( now Liquidation Incentive Rate is 10%, we should give 4% to liquidater and give 6% to system! Makerdao have 13% rate, but they only give 3% to liquidater and give 10% to system!) to increase income.

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How do you think? @kkirka

https://makerdao.com/en/whitepaper
https://cdn.bytom.io/res/MOV-Stable-EN.pdf