GHO Base Launch
01Summary
Proposal to launch GHO (Aave's native asset) on the Base network using Chainlink CCIP, including configuring cross-chain bridges between Base-Ethereum-Arbitrum, updating Arbitrum proxy infrastructure, listing GHO as a borrowable asset on Base with specified risk parameters (2.5M supply cap, 2.25M borrow cap), and designating ACI multisig as Emission Admin for GHO rewards.
- Type
- protocol addition
Key changes
- Configure new Chainlink CCIP lanes between Base and Ethereum/Arbitrum with 300,000 GHO capacity and 60 GHO per second rate limits(high)
- Update Arbitrum GHO token proxy admin to OpenZeppelin v5.1 for alignment with Base deployment(medium)
- Activate GhoAaveSteward and GhoCcipSteward for GHO listing and CCIP lane control(high)
- List GHO as borrowable asset on Aave Base pool with supply cap of 2,500,000 and borrow cap of 2,250,000(high)
- Set ACI multisig as Emission Admin for GHO and aGHO rewards on Base(medium)
- Provide initial liquidity to Base Aave pool as security measure for stable launch(medium)
Notable concerns
- Smart contracts underwent code review by Certora but implementation details should be verified
- Cross-chain bridge security depends on Chainlink CCIP v1.5.1 functionality
- Initial liquidity provision amount not specified in proposal
- GHO cannot be used as collateral on Base (LTV and LT both 0%)
Generated by Kvorum
02Description
Simple Summary
This AIP proposes the expansion of GHO, the native asset of the Aave Protocol, to the Base network utilizing the Chainlink Cross-Chain Interoperability Protocol (CCIP) v1.5.1.
The smart contracts have been refined through multiple stages of design, development, testing, and implementation. Likewise, Certora, the DAO service provider, was engaged to conduct code reviews of the implementation.
Motivation
Building on the successful expansion of GHO into Arbitrum, it is now time to expand GHO to other networks. The Base ecosystem will bring a new set of opportunities, allowing access to a wide array of integrations with other protocols and tools and ultimately enriching GHO's utility potential.
Specification
This AIP includes a series of actions required to launch GHO on Base:
- Configure new Chainlink CCIP lanes between Base and Ethereum/Arbitrum (while retaining existing ones) with a rate limit of 300,000 GHO capacity and 60 GHO per second rate.
- Update the proxy admin of GHO token on Arbitrum to OpenZeppelin v5.1 Proxy Contract, enabling GHO on Arbitrum to be aligned with Base deployment.
- Configure and activate GhoAaveSteward and GhoCcipSteward to control GHO listing and CCIP lane.
- List GHO as a borrowable asset on the Aave Pool, with the risk configuration specified in the ARFC. Then, initial liquidity will be provided to the pool as a security measure to mitigate potential vulnerabilities and facilitate a stable launch.
- Set ACI multisig (0xac140648435d03f784879cd789130F22Ef588Fcd) as Emission Admin for GHO and aGHO rewards, as specified in the ARFC.
The table below illustrates the configured risk parameters for GHO
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | ENABLED |
| Collateral Enabled | false |
| Supply Cap (BLT) | 2,500,000 |
| Borrow Cap (BLT) | 2,250,000 |
| Debt Ceiling | USD 0 |
| LTV | 0 % |
| LT | 0 % |
| Liquidation Bonus | 0 % |
| Liquidation Protocol Fee | 0 % |
| Reserve Factor | 10 % |
| Base Variable Borrow Rate | 0 % |
| Variable Slope 1 | 9.5 % |
| Variable Slope 2 | 50 % |
| Uoptimal | 90 % |
| Flashloanable | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | 0xfc421aD3C883Bf9E7C4f42dE845C4e4405799e73 |
References
- Implementation: AaveV3Ethereum, AaveV3Arbitrum, AaveV3BaseLaunch, AaveV3BaseListing
- Tests: AaveV3Ethereum, AaveV3Arbitrum, AaveV3BaseLaunch, AaveV3BaseListing, E2EFlow
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The decoded on-chain data contains only a single top-level action: a parameterless execute() call to an Ethereum mainnet contract. This is the standard Aave governance execution pattern, where the actual multi-step logic (CCIP lane configuration, proxy admin updates, steward activation, GHO listing on Base, and emission admin assignment) is encoded inside a separate, pre-deployed and pre-audited Payload contract rather than being visible as explicit calldata parameters in this single decoded row. Because the calldata does not expose the granular sub-actions (rate limits, risk parameters, specific addresses, etc.) referenced in the description, I cannot directly verify or contradict any of the specific numeric claims (300,000 GHO capacity, 60 GHO/s rate, risk parameter table values, ACI multisig address) against decoded arguments. There is no evidence of a target mismatch, extra action, or omitted action at the level of what's decoded, but the sparse calldata also means a full verification of each claim isn't possible with the given information. Given the proposal follows the well-known Aave BGD Labs payload pattern (with linked, verifiable implementation source code), and there is nothing in the decoded action that contradicts the description, I mark this as consistent, but with low confidence since the calldata visible here doesn't allow line-by-line verification of the numerous specific parameters claimed in the description.
Generated by Kvorum
04Actions
- Target
- 0x0778…162a
- 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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