Areta Delegate Platform

[TEMP CHECK] GHO Cross-Chain Strategy Launch with CCIP

Vote Result: YES


Deploying GHO cross-chain is critical to its growth, utility, and stability across DeFi. The question up for debate here is not whether Aave should deploy GHO cross-chain; the community is overwhelmingly in favour of doing so. The main question is how to do so - whether to use CCIP or native bridges of the destination chains. We think that the initial design proposed by Aave Labs, after thoroughly reviewing the forum post and ensuing discussions, makes the most sense. We acknowledge the safety benefits that stem from using native bridges, but the benefits of CCIP, especially as a starting point, outweigh these considerations, namely because of the following reasons:

  • Speed and user experience are very important considerations and using native bridges sometimes compromise on these, especially in the destination chain → source chain direction. In the current market conditions, which will likely engender increased usage of GHO quickly across chains, it is important to use the most user-friendly solution.
  • Using Chainlink’s DON network does not add any additional trust assumptions upon Aave - notably, if Chainlink infrastructure fails at some point, a large chunk of DeFi will be affected. Obviously, this reflects a need for DeFi to diversify and therefore diversifying across other oracle networks and messaging infrastructures is important for the space. However, using CCIP does not limit the DAO from using a.DI or native bridges at any point - these integrations can be built in the near future and provide better trust assumptions for cross-chain GHO while initially providing a good starting point for GHO expansion now.
  • The technical complexity of deploying CCIP is lower and can be implemented more quickly with the support of the Chainlink team - this means that the DAO can also choose to implement native bridges in the near future if it chooses to do so.
  • The other benefits of CCIP - risk mitigation tools, flexible billing, programmable token transfers - are also added positives.

Therefore, we will vote YES in favour of this TEMP CHECK and welcome the opportunity to expand GHO cross-chain. We will also be in support of introducing native bridge implementations in the near future, and look forward to discussing the optimal chains to deploy on first.

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