GhoBox is a contract that simplifies managing liquidity across multiple blockchains without shifting collateral. Users provide liquidity to Aave on any chain and delegate borrowing power to GhoBox to allow it to manage loans on this liquidity. Through the Cross-Chain Interoperability Protocol (CCIP), GhoBox coordinates loans across different chains. It handles all steps – borrowing, burning, and minting GHO tokens – making it easier for users to use their assets on various chains without moving their collateral.
Consider Alice, who wants to leverage her assets across Ethereum and Polygon without moving her collateral. Here's how GhoBox helps her:
- Alice’s Action: Alice supplies liquidity to the Aave protocol on both Ethereum and Polygon.
- Alice’s Action: She delegates the credit for GHO borrowing to the GhoBox instance on Ethereum and Polygon.
- Alice’s Action: Alice needs a total of 1000 GHO. She decides to use 600 GHO against her Ethereum liquidity and 400 GHO against her Polygon liquidity.
- Process: She requests the loan via GhoBox on Ethereum, specifying the amounts from each chain.
- GhoBox’s Role: GhoBox on Ethereum coordinates with the GhoBox on Polygon for Alice's loan.
- GhoBox’s Action: GhoBox on Polygon takes out a 400 GHO loan and immediately burns it as part of the process.
- GhoBox’s Action: GhoBox uses CCIP to confirm the burning of GHO on Polygon.
- Final Action: After confirmation, GhoBox on Ethereum mints the total 1000 GHO (including the 400 GHO from Polygon) for Alice.
- Outcome for Alice: Alice now has 1000 GHO on Ethereum, using her combined liquidity from Ethereum and Polygon, without transferring her assets.
This example showcases GhoBox's capability in facilitating cross-chain liquidity management efficiently.
- Seamless liquidity aggregation across multiple chains without moving collateral.
- Credit delegation using GHO tokens.
- Cross-chain loan management via CCIP.
- Integration with Chainlink and Aave protocols for robust and secure operations.
Checkout the front-end repo here: https://github.com/Amirerfan/gho-bridge
https://gho-bridge.vercel.app/
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