A few weeks ago, the Governance Security Module delay parameter was increased from 0 seconds to 86,400 seconds (24 hours). The GSM protects Multi-Collateral Dai from Governance Attacks, but does not yet protect Single Collateral Dai.
Right now, SCD and MCD are linked via the Migration Contract. Sai is a special collateral in MCD that the Migration Contract can access. It provides a two way bridge between Sai and Dai. The maximum amount of Sai that can be used to mint Dai is 30MM.
I’m proposing we reduce the maximum amount of Dai that can be minted using Sai down to 10MM. The largest CDP 3088 is around 8MM so it’s still enough for it to migrate, and it reduces the maximum surface of attack.
Additionally, I propose that the Governance Security Module is also activated for Single Collateral Dai. This does not require any additional deployments since SCD will use the same GSM as MCD. It only needs some rerouting of permissions so any governance action taken on SCD has to pass through the GSM and be delayed by the set delay time (currently 24 hours).