eGHO

This project eGHO, an Interest-bearing stablecoin based on the AAVE, we are inspired by the GHO design and create an alternative design that pegged with USD, and we alse use facilitator to burn and mint GHO as part of our design.We firstly find out the problem on Aave awstETH pool. the utilization rate is low. the current staking ratio of ETH is only 24.14 percent, this is relevant lower than Solana or other market, so there are room for improvement. We propose eGHO, an innovative stablecoin. We use aWstETH as a collateral asset, which is also the pledge certificate of the AAVE lending pool. The stablecoin we create use an over-collateralization mechanism. It has a safe and stable interest-earning feature and zero borrowing fees Users can supply collateral with aWstETH at our protocol to generate eGHO stablecoins. The collateral rate cannot be less than 160 percent, and at the same time earn EGO Token, which is a governance token we created.

We are a team with diverse backgrounds, including blockchain engineers, community managers, front-end experts, and white paper experts. Most of the team members have known each other before. This time we decided to work together to participate in the competition. The reason why we first proposed this idea is because we noticed that the usage rate of wstETH in the AAVE protocol is low and there is a lot of room for utilization. We believe that aLST Token can be utilized from the perspective of improving capital efficiency. At the same time, we noticed that AAVE proposed a new stable currency GHO, which just combined with our ideas, and we innovatively proposed eGHO. Our front-end uses connect-kit technology, and the contract mainly uses solidity technology. I think the most noteworthy aspect of our participation in this competition is that we have proposed many novel mathematical models. By effectively combining stablecoin mechanisms and mathematical models, we can improve the stability and capital efficiency of interest-bearing stablecoins and maximize the value of the protocol. .