The plan is just to watch and do nothing.
According to Xeroc :
"Guys, your understanding of a black swan is way off implementation"
"Before a global settlement, a short position has debt and collateral supporting the debt. During global settlement, you lose just enough of your collateral to support your debt and you lose the debt. Ever BTS in collateral that comes additional to the 100% will be give back to you.
The debt and supporting collateral will be migrated to the the issuer account.
With BSIP18, the global settlement fund in the issuer account can autonatically revive the asset in case the price feed goes back up so that the available collateral reaches MCR
Also, users can bid on the collateral and debt and thus obtain back their own position by providing the excess collateral.
In the meantime, long positions (those with bitusd, bitcny) are unaffected and trading goeabon as usual.
Borrowing and margin calls are disabled until the asset is revived"
I asked him 1-2 months back if he is going to take full responsability for keeping the BSIP42 activ which will lead to a global settlement since he was and still is the key proxy who could instantly close BSIP42.
A clear lack of real trader experience unable to foresight markets and effects of major changes
Some Witnesses even claim there would be no diffrence in current situation with or without BSIP42