Title: [ARFC] Extend GHO Stewards to Arbitrum
Author: @karpatkey_TokenLogic
Date: 2024-07-19
Summary
This publication proposes extending the GHO Steward admin role to the Arbitrum USDC and USDT Stability Modules (GSM) and the Bridging Facilitator.
This publication also proposes this approach is extended to future GHO facilitators, unless specified otherwise.
Motivation
With the introduction of:
On the Arbitrum network; this publication proposes replicating the same agile parameter adjustment process on Ethereum by extending the GHO Steward implementation to the Arbitrum network.
Implementation of this proposal enables further streamlining of governance by enabling several GHO related parameters to be adjusted in synchronised harmony with prevailing market conditions. The GHO stewards configuration will enable faster reaction and proactive adjustments to market conditions.
GHO Steward Signers
With representation from all the major facets supporting GHO, this group ensures Risk, Growth and Liquidity provisions are all considered when amending any of the GHO related parameters.
GHO Stewards consists of members from ACI (Growth), ChaosLabs (Risk), TokenLogic (Finance) and karpatkey (Finance) Service Providers, and utilises a 3 of 4 multi-sig.
Specification
GHO Stewards will consist of the following Service Providers:
The GHO Steward admin role has the permission to adjust the following parameters.
Bridge Facilitator and CCIP Rates
On Ethereum:
CCIP BridgeLimitAdmin
role to adjust the bridge limit up to 100% both waysCCIP RateLimitAdmin
role to adjust theTokenPool Rate Limit
by 100% both ways, and theTokenPool Rate Limit Refill Rate
by 100% both waysFacilitator Borrow Capacity
can be updated by up to 100% both waysFacilitator Bucket Capacity
can be updated by up to 100% both ways
On Arbitrum:
CCIP BucketCapacityManager
role to adjust the facilitator bucket capacity by 100% both waysCCIP RateLimitAdmin
role to adjust theTokenPool Rate Limit
by 100% both ways, and theTokenPool Rate Limit Refill Rate
by 100% both ways
Arbitrum GSM (once deployed)
Exposure Capacity
can be updated by up to 100% both waysBucket Capacity
can be updated by up to 100% both waysPrice Strategy
Fee Strategy
can be updated by 50 bps both waysPrice Range (Freeze, Unfreeze)
GHO Steward Arbitrum SAFE: 0x8513e6F37dBc52De87b166980Fa3F50639694B60
Disclosure
TokenLogic and karpatkey receive no payment for this proposal. TokenLogic and karpatkey are both delegates within the Aave community.
Next Steps
- Using the Direct-to-AIP process, submit a proposal for vote.
Copyright
Copyright and related rights waived via CC0.