What are GHO facilitators?
Facilitators are entities or protocols authorized by the Aave DAO to mint and manage GHO stablecoins. They play a critical role in maintaining the stability and supply of GHO. Each facilitator operates under specific parameters and conditions set by Aave Governance to maintain that GHO remains stable and trustworthy. Facilitators are chosen based on their ability to manage the minting process responsibly and maintain the collateral backing the issued GHO. These facilitators can create and burn GHO tokens up to a certain limit, allowing depositors to borrow GHO against their collateral in Aave V3's Ethereum mainnet pool. Each facilitator has their own strategy for using GHO tokens, which are backed by excess collateral.
There are currently 4 facilitators for GHO:
- Aave V3 Facilitator: The Aave V3 Ethereum market is an approved facilitator that enables GHO to be borrowed using collateral supplied to this market
- CCIP Cross-Chain Facilitator: Enables GHO to be bridged to governance-approved networks by locking/unlocking tokens on Ethereum mainnet and minting/burning tokens on destination networks
- GHO Stability Module: Enables GHO mint / burn at predetermined ratios
- Flashmint Facilitator: Mirrors the flashloan functionality of all other Aave reserves
Each Facilitator must be approved by Aave Governance. Aave Governance will be able to determine and assign a Facilitator a specific bucket capacity, the amount of GHO that the Facilitator is able to mint.
Where do users interact with GHO facilitators?
GHO Facilitators can be interacted with directly from protocol smart contracts or using a frontend interface.
Borrowing and Bridging GHO can be accessed from the Aave Labs interace from the "Dashboard" ad "Bridge GHO" (in top right navigation bar) respectively.
The GHO Stability Module can be accessed from exchanges that have directly integrated it's functionality such as CoW Swap.