[ARFC] Extend GHO Steward on Aave Prime Instance

Governance
1

title: [ARFC] Extend GHO Steward on Aave Prime Instance
author: @TokenLogic
created: 2025-01-10

Simple Summary

This publication proposes extending the GHO Aave Steward to the GHO market on the Prime instance.

Motivation

In response to the expanding GHO ecosystem and following the upgrade of the GHO Stewards to a more modular approach at the end of 2024, this publication proposes extending the GHO Aave Steward role to the GHO Reserve on the Prime instance of Aave v3 on Ethereum.

Similar to how the GHO reserve on Arbitrum, which already has a GHO Aave Steward implementation, the role will be extended to the Prime instance of Aave v3.

Management of the GHO Steward Permissions

The following functions can only be called by the owner, the Aave DAO:

  • setRiskConfig on GhoAaveSteward
    – Sets the max percent changes for each of the four required parameters for Gho borrow rate (optimal usage ratio, base variable borrow rate, variable slope rate 1 and 2)
    – Only callable by the Aave DAO

Further details relating to GhoSteward v2 can be found here.

GHO Stewards

The below provides a recap of the current GHO Stewards for completeness.

The SAFE is configured to have 3 of 4 signer requirement.

Specification

A new GhoAaveSteward is to be deployed, with the Prime configuration:

Owner: 0x5300A1a15135EA4dc7aD5a167152C01EFc9b192A

Addresses Provider: 0xcfBf336fe147D643B9Cb705648500e101504B16d

Pool Data Provider: 0x08795CFE08C7a81dCDFf482BbAAF474B240f31cD

Gho Token: 0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f

Risk Council: 0x8513e6F37dBc52De87b166980Fa3F50639694B60

BorrowRateConfig:

  • UOptimal Max Change: 500
  • Base Variable Rate Max Change: 500
  • Slope 1 Max Change: 500
  • Slope 2 Max Change: 500

Then, the GhoAaveSteward is to be granted the following permissions:

  • GhoAaveSteward
    1. RiskAdmin in Aave V3 Ethereum Prime Pool

Disclosure

TokenLogic receives no payment for this proposal.

Next Steps

  1. Gather feedback from the community.
  2. If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
  3. If Snapshot outcome is YAE, an AIP will be submitted for community vote.

Copyright

Copyright and related rights waived via CC0.

4 Likes
2

A Snapshot vote has been created for this proposal.

Link to vote: here

Start: Jan 16, 2025 · 3:21 PM
End: Jan 19, 2025 · 3:21 PM

Thank you in advance to everyone that participates in the vote.

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