Circuit Breakers

Market security and stability are Opus’ first priority. Consequently, Opus needs to be able to slow or halt trading, stop withdrawals, or freeze settlements from occurring at any time it deems that non market related events place the ecosystem at risk.

To this end, circuit breaker timeouts will be used to slow or completely stop trading. During a circuit breaker halt, Opus can override oracle feeds, pricing parameters, and all internal controls it deems needed to maintain Opus’ operational integrity.

For example, a circuit breaker will be automatically used if mechanical failure occurs or if there are any significant bugs, oracle risks, or a perceived or real threat or occurrence of theft or cyberattack.

The circuit breaker length will be dictated by mitigation of the event that led to the circuit breaker being used. Resumption of trading will occur when all issues are resolved. Settlement or early settlement will occur if the platform is expected to be down for an extended period of time.

Early settlement will use OpusARM determined prices and funds will be available to be withdrawn on trading’s resumption.

Opus will use all customary media channels to communicate and make announcements on issues and current operational status as needed.