TokenLogic’s proposal would introduce a permissioned GHO Stability Module (GSM) on Avalanche, allowing approved counterparties to exchange waUSAT, a receipt token for the dollar stablecoin USAT deposited on Aave V4, for GHO. The mechanism would set reserve funding at 65 million GHO, a module draw limit of 25 million GHO and an asset exposure cap of 20 million waUSAT. Revoking approval could prevent a participant from returning GHO to recover waUSAT, creating three separate conditions on the route back to dollars. Swap fees would be set to zero in both directions, while the issuer redemption fee (Anchorage Digital Bank) would be 10 basis points. The proposal remains at an early stage, with contract addresses and pricing strategies still unspecified.
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