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The proposal aims to bridge GHO to Cosmos and Polkadot using IBC to boost its demand and offer a decentralized stablecoin alternative, despite concerns over the security and timeline of Composable's IBC connection to Ethereum. Community feedback and a TEMP CHECK Snapshot will determine the next steps, with plans for audits and public reports to ensure bridge reliability before mainnet launch.
The discussion revolves around a proposal by Tint1 to bridge GHO, AAVE's stablecoin, to the Cosmos and Polkadot ecosystems using the Inter-Blockchain Communication (IBC) protocol. The goal is to increase GHO's demand and supply, provide a decentralized stablecoin alternative to USDC/USDT, and encourage cross-ecosystem interaction. The proposal includes a technical approach for establishing an IBC connection between Ethereum, Cosmos, and Polkadot, enabling GHO to be interoperable across these blockchains. It also outlines the next steps, which involve community feedback, a TEMP CHECK Snapshot, and potential allocation of GHO into identified liquidity pools if the snapshot is affirmative.
The next steps include gathering community feedback and proceeding to a TEMP CHECK Snapshot if consensus is reached. If the snapshot is affirmative, the plan is to allocate GHO into the identified liquidity pools. Community members are invited to test the bridge functionality on Goerli and provide feedback. Audits will be conducted, and reports will be made public to address concerns about the system's reliability before launching on the mainnet.
Posted 22 days ago
Last reply 21 days ago
Summary updated 12 days ago
Last updated 06/12 00:43