Deep Dive into the GHO Smart Contracts
summary
GHO is Aave’s native stablecoin that mints on demand when users borrow from the V3 Ethereum market, implementing facilitators with bucket capacity so governance controls who can mint and how much. The protocol forces native mint-on-borrow (no supply side), burns repaid principal while routing interest to treasury, and uses an oracle pegged to $1 inside Aave to preserve the peg. Safety module suppliers earn a reduced rate via a safety module discount (stkA-based) and cross‑chain CCIP bridging is planned.
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chapters (7)
- 0:00GHO stablecoin intro
- 5:15GHO architecture & facilitators
- 11:22Native minting in Aave V3
- 18:09GHO token code walkthrough
- 22:07Integration with Aave V3
- 31:45Interest rate calculations Q&A
- 39:35Closing & future ideas
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