Resources

Security & Audits

GHO has been implemented with security as priority. The system has been designed to be safe and secure, and we have spent all the necessary resources in order to ensure that the protocol matches the highest security standards.

Below are the links to all audit reports and formal verification for GHO

Audit Round 1

Auditor	Date	Report
Sigma Prime	02-06-2023	SigmaPrime_GHO
Sigma Prime	07-03-2023	SigmaPrime_GHO
ABDK	01-03-2023	ABDK_GHO
OpenZeppelin-v2	10-11-2022	OpenZeppelin_GHO_V2
OpenZeppelin-v1	12-08-2022	OpenZeppelin_GHO_V1

Glossary

Term	Definition
AAVE	The native asset of the Aave ecosystem, which constitutes the foundation of governance and safety for the Aave Protocol.
Aave Protocol	Decentralized protocol providing permissionless access to pooled money markets for cryptographic assets.
Arbitrage	The concept of taking advantage of a difference in prices in multiple markets to make a profit.
Bucket	Defines the ability a Facilitator has to mint and burn GHO. Each Facilitator has its own Bucket that has a governance-controlled Capacity and a Level that is constantly being updated based on the Facilitator activity.
Bucket Capacity	Represents the upward limit of GHO that a specific Facilitator can generate.
Bucket Level	The amount of GHO tokens generated per each Facilitator.
Cooldown Period	The time required prior to unstaking tokens, this is currently set to 864,000 seconds (10 days). Users can only withdraw their assets from the Security Module after the cooldown period ends and the unstake window is active.
Debt Token	GHO, the discounted token.
Discount Model	Users that have staked AAVE tokens in the safety module (stkAAVE) are eligible for a discount on GHO. For each stkAAVE there will be a discount on the borrowing rate for 100 GHO. The discount model is subject to Aave Governance and can change.
Discount Rate Strategy	Users that have staked AAVE tokens in the safety module (stkAAVE) are eligible for a discount on GHO. For each stkAAVE there will be a discount on the borrowing rate for 100 GHO.
Discount Threshold	The maximum amount of GHO that can be generated at discount through the borrow interaction within the Aave Protocol, per stkAAVE held.
Discount Token	The token that grants discounts off of the the debt interest. Per the current configuration, only stkAAVE is eligible for the GHO borrowing discount.
Facilitator	A Facilitator can be a protocol or an entity within the crypto ecosystem, that has the ability to trustlessly mint (and burn) GHO tokens. They are assigned by the Aave Governance.
Maximum Capacity	The maximum capacity of GHO tokens that a Facilitator can mint
Ray	For internal calculations and to reduce the impact of rounding errors, the concept of Ray Math is used. A Ray is a unit with 27 decimals of precision. All the rates are expressed in Ray.
Reward Token	The AAVE token is the reward token accrued when a user stakes in the Safety Module.
Safety Incentives	Represents the part of the periodic issuance of AAVE used to incentivize users to stake AAVE in the Safety Module (SM).
Safety Module	A smart contract-based risk mitigation tool that is leveraged in the event of a shortfall event. This component is in charge of shielding the protocol from insolvency, protecting the liquidity providers from risks resulting in loss of funds, such as liquidation and smart contract risk.
Shortfall Event	Event in the Aave Protocol causing a state of deficit for the liquidity providers.
Stablecoin	Digital currencies pegged to reserve assets as a stabilization mechanism to prevent fluctuations in value.
Staked Token	The AAVE token is staked in the Safety Module, stkAAVE.
stkAAVE	Represents a tokenized share of the Safety Module. When a user stakes AAVE in the Safety Module, the user receives an