GHOmium assets
GHOmium Assets: Earn GHO by depositing Real-World Assets (RWAs) like bonds, Bitcoin ETFs, and gold. Utilize our smart contract facilitator, Chainlink CCIP integration, and health index dashboard. Unique benefits: Collateral earns interest, and AAVE users get stkAAVE discounts.
Project Description
This is the ideal description of the "desired state" of the product. We are creating a new Facilitator for GHO based on Real-world Assets. For users who already have the tokens that represent their real-world assets on-chain, they can deposit their tokens into our facilitator and receive a receipt token equivalent to the deposit value. Let's call this token GMA, which stands for GHOmium assets.
In order to generate revenues for the facilitator, our smart contract will deposit into other protocol for low-risk yield, these could range from AAVE lending, liquidity providers, to other premium treasury investment services.
Users want to deposit their RWA tokens into our facilitator because of 2 reasons:
- They can earn interest from holding the GMA token.
- They can mint GHO by borrowing based on amount of RWA collateral that they deposit into our protocol, ideally at about 50% or less the value of what they deposit into the smart contract. They can use this GHO token to pursue other DeFi activities as they see fit. In addition to these 2 reasons, in real life the real-world assets may still be generating yield, so it's double yield for them.
The default mode is that users can lock their RWA tokens flexibly for some yield. But if they decide to lock their tokens longer, then we will also increase the yield for them since we can use that locked RWA to farm longer-term investments.
How it's Made
We built the frontend with Next.js, wagmi, ConnectKit, and a few other supporting libraries. The prototype was deigned in Figma, along with the logo and cover image.
We built the backend with Moralis.
The smart contract is built with Hardhat framework. There's just 1 main smart contract, plus a few other interfaces. We use open-source libraries like OpenZeppelin to support.
Unfortunately, we didn't have enough time to pull the integration together for the frontend and smart contract. We came up with a clever way to build the frontend in a short amount of time and we were also able to integrate the Family ConnectKit into the frontend.
