Parameter Table
Every threshold, every ratio, every fee schedule.
Problem
What are the precise numbers in code? Which parameters are immutable, which are governance-mutable within bounds, and what bounds?
Solution
The reference parameter table for the GCSR.
| Parameter | Value | Mutability |
|---|---|---|
| Steady-state collateral ratio | 150% | Governance-mutable, bounded |
| Minimum collateral ratio floor | 130% | Immutable in code |
| SZK collateral cap | 15% | Immutable in code |
| Layer 2 trigger band | ±2% peg deviation | Governance-mutable, bounded |
| Layer 3 elevated ratio | ≥200% | Governance-mutable, bounded |
| Worst-case bounded deficit | 43.75% | Derived (proof) |
| Phase 0 supply cap | $50M | Phase-gated relaxation |
| Phase 1 supply cap | $500M | Phase-gated relaxation |
| Threshold-encryption committee | t-of-n, supermajority | Governance-mutable, bounded |
| Resolution waterfall priority | szUSD → szBOND → SZK | Immutable in code |
Discussion
The parameter table is the audit-ready summary of what the GCSR commits to. The pattern is consistent: quantitative trigger thresholds and fee schedules are governance-mutable within bounds; the structural parameters that would let a hostile governance majority unwind the bounded-dilution proof are not.
The full canonical parameter table — including every Layer 2 fee response, every Layer 3 facility, the timestamp-tolerance windows, the auction parameters at Layer 4, and the per-phase gating criteria for phase transitions — is published from the GitHub repository alongside the consensus implementation.
See Also
- § 5.3 · What Governance Can and Cannot Touch — the operating-manual version of the same line
- § 4.5 · Phased Launch — how the phase-gated parameters relax