Deploy 10M GHO into Aave v3 Lido Instance
01Summary
Proposal to mint 10M GHO tokens and deposit them into the Aave Lido instance on Ethereum to bootstrap liquidity, enhance DAO revenue from the Lido instance, and support GHO holders seeking yield with wstETH collateral.
- Type
- treasury allocation
- Funding
- $10000000
Key changes
- Grant RISK_ADMIN_ROLE to GhoDirectMinter contract(high)
- Add GhoDirectMinter as a GHO token facilitator(high)
- Mint 10M GHO tokens(high)
- Supply 10M GHO into Aave Lido instance(high)
- Allow GhoBucketSteward to control GhoDirectMinter(medium)
Generated by Kvorum
02Description
Simple Summary
Following the addition of GHO to the Lido instance of Aave v3 on Ethereum, this publication proposes supporting GHO liquidity by minting 10M units of GHO and depositing into Aave Lido.
Motivation
By providing liquidity on the Lido instance, the Aave DAO shall provide the initial bootstrapping liquidity in a very cost efficient manner and, in doing so, enhance the DAO's revenue generated from the Lido instance. GHO holders will be able to deposit GHO to earn the deposit yield whilst benefit from small than otherwise concentration risk within the reserve due to the DAO providing the bootstrapping liquidity.
With strong demand for GHO using wstETH as collateral resulting in 23.7% of GHO supply sourced from the Main market being backed by wstETH, this demonstrates that users actively seek to benefit from the capital efficiency of using an LST as collateral. Deploying additional GHO into the Lido instance is expected to further encourage this positive behavior, reinforcing the appeal of wstETH as a reliable, yield-bearing collateral for GHO.
Specification
- Prior to proposal, GhoDirectMinter contract was deployed here
- Grant RISK_ADMIN_ROLE to GhoDirectMinter referenced above
- Add GhoDirectMinter as a GHO token facilitator
- Mint 10M GHO and supply into Aave Lido
- Allow GhoBucketSteward to control GhoDirectMinter
References
- Implementation: AaveV3EthereumLido
- Tests: AaveV3EthereumLido
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The decoded on-chain data contains a single action: a call to execute() on a payload contract address, which is the standard Aave governance pattern (AIP payload contracts encapsulate all granular logic — role grants, facilitator additions, minting, steward permissions — inside a delegatecalled implementation). Because the calldata only exposes this single opaque execute() call and not the internal operations it performs, it is not possible to directly verify each specific claim in the description (granting RISK_ADMIN_ROLE, adding GHO facilitator status, minting 10M GHO, supplying to Aave Lido, and granting GhoBucketSteward control) against granular calldata. This is typical and expected for Aave proposals of this type, and does not by itself indicate any inconsistency — the description's specificity is plausible and consistent with known Aave GHO Lido payload patterns referenced in the linked implementation contract. However, since we cannot decode the payload's internal logic here, confidence in a full one-to-one comparison is low. No contradictions, target mismatches, or extra/omitted high-level actions are apparent from what is decodable, so the assessment defaults to consistent, but with low confidence due to the opacity of the single execute() call structure typical of Aave's governance payload pattern.
Generated by Kvorum
04Actions
- Target
- 0x70e9…55bf
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
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07Forum
No forum thread is confidently linked to this proposal.
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