Gho Steward Update
01Summary
Upgrade the GHO Steward contract to GhoStewardV2, enabling more granular control over GHO's parameters: GSM fees can be adjusted by up to 50 basis points in either direction, and both GHO borrow cap and exposure cap can now be updated flexibly to improve liquidity, resilience, and supply growth efficiency.
- Type
- contract upgrade
Key changes
- GSM fee strategy can now be updated by 50 basis points in both directions(high)
- GHO borrow cap can now be updated both ways(high)
- GHO exposure cap can now be updated both ways(high)
Generated by Kvorum
02Description
Simple Summary
This proposal seeks to update the GHO steward to an more efficient version, allowing more granular control over GHO to increase it’s efficiency
Motivation
The GHO peg is strong, and supply is growing. As GHO matures, new strategies can now be implemented to make it more liquid, resilient and help it grow larger. For example, a strong GSM is expected to allow larger cap increases, allowing faster growth of the supply. Also, in dynamic markets, tighter control on borrow rates is expected to improve asset efficiency.
Specification
The upgraded Gho Steward can be found on the gho-core github
Changes:
- GSM fee strategy can now be updated by 50 bps both ways
- GHO Borrow cap can now be updated both ways
- GHO exposure cap can now be updated both ways
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal follows Aave's standard governance pattern: a single on-chain action that calls execute() on a payload/executor contract, which internally performs the detailed logic (deploying the new GhoStewardV2, setting bps limits, cap update permissions, etc.). The decoded calldata here does not expose the internal parameters (the 50 bps fee delta, borrow cap, or exposure cap logic) because they live inside the payload contract's bytecode, not in the top-level calldata. This means I cannot directly verify the specific numeric claims (50 bps, cap changes) against decoded arguments — there simply are none to compare. However, this is a well-known and expected pattern for Aave proposals (single execute() call referencing a specific, linked payload contract whose source code is provided in the description's references), so there is no evidence of contradiction, hidden redirection, or malicious intent. Given the opacity of the single decoded action, confidence in a granular comparison is low, but nothing in the available data contradicts the description, so I classify this as consistent with low confidence rather than flagging speculative discrepancies mainly due to lack of decoded parameter data rather than any actual mismatch found.
Generated by Kvorum
04Actions
- Target
- 0x490c…9900
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
08Similar proposals
- aaveexecutedActivate Gho Stewards88%
- aaveexecutedGHO Steward v2 Upgrade86%
- aaveexecutedExtend GHO Steward on Aave Prime Instance82%
- aaveexecutedGHO update on Aave V3 Ethereum Pool81%
- aaveexecutedGHO Risk Stewards Update and GHO CCIP Integration Upgrade78%
- aaveexecutedGho unpause and freezing72%
- aaveexecutedGHO Facilitator Replacement71%
- aaveexecutedGHO update on Aave V3 Ethereum Pool for 13/11/2023 Report71%
- aaveexecutedGHO CCIP Integration Maintenance (CCIP v1.5 upgrade)70%
- aaveexecutedGrant Claim Helper Role to StkGhoMigrator69%