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Bgdlabs has released an updated version of their GHODebtSwapAdapter, now supporting Aave v3 Ethereum users to swap any debt asset to vGHO. The new version includes a FlashMinter Facilitator, adhering to EIP-3156, enabling efficient debt swaps and paving the way for entities with user interfaces supporting Aave to begin integration.
The community has seen a significant development from Bgdlabs with the release of a new version of their Debt Swap Adapter, GHODebtSwapAdapter. This updated version now supports Aave v3 Ethereum users to swap any debt asset to vGHO (GHO variable borrowings)1. The need for this new version arose due to the unique nature of GHO, which is incompatible with Aave style flash loans as it lacks an underlying supply on the aToken and is minted when borrowing1.
To address this issue, Bgdlabs introduced a FlashMinter Facilitator, adhering to the EIP-3156 standard. This allows for sourcing "flash" GHO from a smart contract venue1. The new swap adapter handles GHO separately, executing a series of steps to enable the swap from vDAI to vGHO debt1. This is a significant stride as efficient debt swaps are a vital arbitrage mechanism for stablecoins. It allows users to shift their exposure to more favorable interest rates without the overhead of closing and reopening their position1.
The code has been made public, paving the way for entities with user interfaces supporting Aave to begin integration. The existing infrastructure of AaveCompanies is expected to facilitate a straightforward integration1. This development marks a significant step forward in the community's ability to manage and swap debt assets efficiently.
Posted 5 months ago
Last reply 5 months ago
Summary updated 2 months ago
Last updated 08/12 04:39