Simple Summary

This proposal activates GHO steward V2 for the Aave DAO, allowing better management of the GHO stablecoin by Risk, Growth & Finance Aave DAO service providers

Motivation

This publication proposes to creating the GHO Stewards and granting the GHO Stewards permission to adjust the following parameters:

• GHO Borrow Cap
• GHO Borrow Rate
• GSM Exposure Cap
• GSM Bucket Capacity
• GSM Fee Strategy

GHO Stewards consists of members from Growth (ACI), Risk (ChaosLabs) and Finance (TokenLogic + Karpatkey) Service Providers and utilize a 3 of 4 multi-sig.

Specification

The proposal gives the following admin roles:

• Grant GHO Steward the Pool Admin role via the ACL_MANAGER contract.
• Grant GHO Steward the Bucket Manager role on the GHO token.
• Grant GHO Steward the Configurator role on GSM_USDC and GSM_USDT.
• Whitelists all the facilitators on the GHO Stewards, including: GHO_AToken, GHO_FlashMinter, GSM_USDC, GSM_USDT - so that the steward has the permissions to update the bucket capacity.

The GHO Stewards parameters are set as follow:

• GHO Aave Bucket Capacity: 100% increase
• GHO Borrow Rate: 5% change
• GSM Exposure Cap: 100% increase
• GSM Bucket Capacity: 100% increase
• GHO Borrow Cap: 100% increase
• GSM Fee Strategy: +0.5%

References

• GHO Steward SAFE address: 0x8513e6F37dBc52De87b166980Fa3F50639694B60
• GHO Steward V2 address: 0x8F2411a538381aae2b464499005F0211e867d84f
• GHO Steward Repo: GhoStewardV2.sol
• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.