You signed in with another tab or window. Reload to refresh your session.You signed out in another tab or window. Reload to refresh your session.You switched accounts on another tab or window. Reload to refresh your session.Dismiss alert
A minimal facilitator contract with minting and burning capabilities, controlled by a single entity. It must be granted the `Facilitator` role on the GHO token with a defined bucket capacity.
9
8
10
9
This contract can represent a remote minting strategy: it can mint any amount of GHO liquidity on Ethereum, which is then bridged to a remote chain for future use.
It holds GHO liquidity and allows authorized entities to use it up to a defined limit. It is intended for use on remote chains, where GHO is bridged from Ethereum, locked in this reserve, and later distributed by authorized entities through various strategies.
@@ -23,12 +21,14 @@ A single `GhoReserve` instance can be shared across multiple remote faciltiators
23
21
Remote facilitators function similarly to those on Ethereum, but the way GHO is brought into circulation differs—since GHO can only be minted on Ethereum. Existing minting strategies such as `GhoDirectMinter` (for distribution via Aave V3 Pools) and GSM (for swapping GHO with exogenous assets) can be adapted as remote facilitators using the following setup:
24
22
25
23
[On Ethereum]
24
+
26
25
1. An `OwnableFacilitator` contract is deployed to represent the minting strategy on the remote chain. It is granted the `Facilitator` role on the Ethereum GhoToken contract, with a defined bucket capacity X.
27
26
2. An amount X of GHO is minted via the `OwnableFacilitator` and bridged to the remote chain (typically via `CCIP`).
28
27
29
28
[On the Remote Chain]
29
+
30
30
1. A `GhoReserve` contract is deployed to hold the X GHO bridged from Ethereum. The remote minting strategy is registered as an entity in the `GhoReserve`, granting it permission to use and restore GHO liquidity.
31
31
2. The strategy operates using GHO from the `GhoReserve`, following its internal logic and collateralization rules.
32
32
3. Unused GHO remains in the `GhoReserve`. If the strategy is deprecated or idle for an extended period, the GHO can be transferred out and bridged back to Ethereum for burning.
33
33
34
-
Note: A `GhoReserve` can support multiple minting strategies concurrently. It's up to the configuration whether to deploy a dedicated `GhoReserve` per strategy or share a single instance among several.
34
+
Note: A `GhoReserve` can support multiple minting strategies concurrently. It's up to the configuration whether to deploy a dedicated `GhoReserve` per strategy or share a single instance among several.
0 commit comments