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[ARFC] Deploy 10M GHO into Aave v3 Lido Instance

Vote Result: YES

Rationale

There are multiple reasons to support this proposal:

  • The impending proposal to onboard sUSDe to the Lido instance, which will drive demand for stablecoins, meaning that an already-filled GHO supply would increase utilization quicker;
  • Reinforcing wstETH as a safe, credible collateral for GHO;
  • Increasing the LTV for wETH from 0%, which will drive borrow demand against wETH as collateral;
  • The lack of risk since any uncollateralized GHO can also be deposited directly into Lido as supply, ensuring availability of GHO for borrowers at a moment’s notice;
  • The $600k revenue opportunity for the DAO from this deposit.

We take LlamaRisk’s point around the minting and deployment of this 10M GHO in accordance with the supply caps and encourage this action.

All in all, we will vote YES in favour of this proposal.