Proposal Core: Cross-Chain Deployment via CCIP
Aave's governance community is reviewing an ARFC proposal to expand the yield-bearing stablecoin sGHO from Ethereum mainnet to Layer-2 networks via Chainlink's Cross-Chain Interoperability Protocol (CCIP). sGHO is a yield-bearing stablecoin within the Aave ecosystem, allowing holders to earn interest on their GHO holdings. Currently sGHO exists only on Ethereum mainnet; this proposal aims to extend its accessibility to the broader Layer-2 ecosystem, enhancing user experience.
Design Principle: Preserve Mainnet Core, Avoid Liquidity Fragmentation
The key design of the proposal is to allow users to access yield-bearing GHO exposure in Layer-2 environments while preventing fragmentation of the core accounting model. Ethereum mainnet will remain the primary data source, handling critical logic such as liquidations and interest rate calculations, while L2 instances only process user interactions, thereby maintaining a unified risk model and liquidity pool. This approach aligns with the current DeFi trend where major protocols achieve cross-chain product availability without liquidity fragmentation. If passed, Aave would be among the early adopters of CCIP for stablecoin cross-chain expansion.
Chainlink CCIP, as a cross-chain communication standard, has been validated across multiple DeFi protocols. sGHO's cross-chain deployment would rely on CCIP to transmit token data and state information, ensuring data consistency between mainnet and each Layer-2 network. The proposal is currently in the ARFC phase, with the community expected to vote within the next two weeks.