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GhoDirectMinter

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The GHO direct minter is a generic facilitator that can inject GHO into an aave pool.

Summary

The GhoDirectMinter is a smart contract that can be used to mint & burn GHO directly into/from an Aave pool. In order to mint GHO the GhoDirectMinter will need to be registered as a Facilitator in the GHO contract.

This repository contains two contracts:

  • GhoDirectMinter which contains the actual Facilitator
  • LidoGHOListing which is a reference implementation of a proposal to 1) list GHO on Aave Lido instance and 2) deploy and active a GhoDirectMinter facilitator.

Specification

Prerequisites:

  • the pool targeted by the GhoDirectMinter must have GHO listed as a reserve.
  • the GHO AToken and VariableDebtToken implementations must not deviate from the Aave standard implementation.
  • the GhoDirectMinter must be registered as a Facilitator with a non zero bucket capacity.
  • the GhoDirectMinter must obtain the RISK_ADMIN_ROLE in order to supply GHO to the pool.

The GhoDirectMinter offers the following functions:

  • mintAndSupply which allows a permissioned entity to mint GHO and supply it to the pool.
  • withdrawAndBurn which allows a permissioned entity to withdraw GHO from the pool and burn it.
  • transferExcessToTreasury which allows the permissionless transfer of the accrued fee to the collector.

While default permissioned entity is the owner(likely the governance short executor), but the contract inherits from UpgradeableOwnableWithGuardian which allows to share permissions with another party (e.g. the GHO stewards).

Risk considerations

The GhoDirectMinter can only inject and remove available GHO from the pool. The actual maximum exposure of the reserve is managed via the BucketSize and the chosen borrow cap.

Development

This project uses Foundry. See the book for detailed instructions on how to install and use Foundry.

Setup

forge install

Test

forge test