This topic is for discussion of a circuit breaker standard for smart contracts.
Some projects have implemented a circuit breaker, including Maker, Cover, Ruler, etc., where a responder (usually a multi-sig) can (and only) pause critical functionalities (chosen by the project) on the smart contract when abnormal activities detected.
Each implementation is different.
One example is on the BonusRewards.sol from Cover Protocol.They have used a list of responders.
A standardized circuit breaker would benefit a lot of projects and enable tons of possibilities like a Global Responder Group DAO who can act as a guard towards exploits.
I am pretty new to the space and wanted to start the conversation here to hear your opinion on this.