Aave Grants DAO 🛠️ Build with GHO: rAAVE tickets - Jess Glover

foreign [Music] thank you all for coming um I'm Jessica but I am the developer relations engineer at the Army companies I have been here for just under a year and I work primarily on Ave and go so um I guess who here actually has mentored garlico and who is here for a Broadway ticket the treatment of it okay um so today we're going to be looking at what go is um how it works and uh looking at looking through some code Snippets and then go through the prizes for the hackathon so um if you haven't heard of go it is an RV native decentralized over collateralized uh stable coin and it was initially proposed to the rbe Dao in July last year and it's now been it's launched on the ethereum girly test net and is also on the sapolia testnet so um firstly fully understand why goer's built we should touch on stable coins briefly just because they play such an important role in the D5 Eagle system they offer a fast efficient and borderless way to transfer stable value on blockchain so probably wondering why build go when there are so many stable coins out there so there's been demand from the ecosystem for a decentralized are they need to overclass stable coin just because of the reasons I said before is it's a great way to transfer stable value across a blockchain so um go contributes to the Dow treasure the away dial treasury as well with paid interest directed to the Dow rather than assets of players as it normally would be on the barbie protocol um with the RV Community Support go has substantial to become a leading decentralized labor code so what is go so as I said before the kind of lengthy definition we have um are we protocol native so go fits natively into the existing RV protocol as a new asset so when the team is building go it was clear that there was a lot of functionality already in the existing protocol so this is things such depositing collateral and liquidations um go is decentralized so it does not have one single point of control it will be fully governed by the Army Dao and this means that they'll make all decisions relating to go so for example go will not be go is not an algorithmic stable coin and the RV Dao will set the interest rates so again on this point um relating back to how go fits natively into the army protocol it means that go can actually leverage the existing of a governance framework and the access controls so this doesn't only provide transparency but it provides verifiability so you can see the governing rules and policies that will be approved and executed on chain um so go is over collateralized so this just means that users must Supply assets more than the value of go to be mentored so in this case as go will be pegged to one-to-one with the US dollar one go will be backed by more than one dollar of collateral and this model has already been proven within the ecosystem and what and this will work as a stability mechanism so basically when you're supplying more go more collateral than the go that you're minting this excess collateral that acts as sort of a buffer like a cushion um in the event that the price of a sable coin will fall below the target value uh goes also multiculturalized so in terms of the uh assets that a user might Supply as collateral um sorry uh as opposed to where with other stable coins that you might meant a stable coin using one specific collateral type in a vault users can actually mint go based on their entire set of digital assets across the RV protocol so as we now have this diverse range of assets this mitigates the sort of concentrating on one type of digital asset does back and go so how does go work uh go as an erc20 token designed to maintain a stable rate pegged to the US dollar despite Market volatility so it follows the same process when you're interacting with the RV protocol you supply collateral then you can borrow go and then repay the gods at and so as goes over collateralized users must as I said must Supply assets more than the value are going to be minted and go is also designed to accrue interest when it is borrowed um so as I mentioned the Rave Dao before they make all the decisions relating to go so this can include the interest rates this is the collateral that you can supply and any changes to it as well so A New Concept that has been introduced on building go is the concept of facilitators so a facilitator is uh essentially they have permission from the Army Dao to Mint and Bongo and each facilitator is assigned a maximum bucket capacity so um how much go they can mint from um and so in the latest Army governance uh development update from the ra companies it's been recommended that the RV ethereum B3 pool will be the first if facilitate to launch go so you'll be able to mint and bang out through via their V3 pool and this is due to the already extensive risk mitigation features that are already through the Army V3 pool and so if you are actually hacking and you're not just here for the tickets um how do you integrate with gov so if you're looking into the smart contracts you can get started with the GO Contacts there's loads of links online so I'll link them later on Discord and on Twitter and um you can make use of the npm packages available so there are two or three packages for the RV protocol and then there's one for go um you can install it into your repository and it doesn't matter if you're using powder or Foundry you'll have access to all the contracts there if you're building a front end you can use the Ave utilities JavaScript test CK so this is a really great way to uh fetch data and um transform it it's really simple to use and you can use it for your front end and then also if you're looking at the data analytics you can use the subgraph for Ave and go now to look at the JavaScript some JavaScript examples of how you could use the JavaScript test UK so as I mentioned before you have to Supply collateral before you can borrow mint go um so here this code uses the the SDK so in this case we're making use of the deposit function in the re protocol we need to pass all the parameters and so for example here we have the user address the SE are just the result the address of the reserve that we're going to deposit into the protocol the amount you want to and how much that and on behalf of which is sort of a um unique variable where it's just who you are to see it's applying for and then after you've supplied the collateral you can then borrow go so as you can see some of the parameters are the same or very similar and it's important to note here that the interest rate mode is a variable so at launch the away companies is proposing that there'll be a fixed rate but just given the implementation of the go Reserve it's a variable net token here so just to note that that if you are integrating okay and then if you need to repay some of the go debt so if you this allows if you've been using the RV protocol before you'll know about health factors and that if you repay your go debt you will be able to increase your health factor and this helps to mitigate any liquidation risk that you might in color and so again praise him that you just uh impact the correct parameters and should be good to go so if you aren't wanting to use the SDK and you're looking more into the use Mark contracts and we're going to just do a really quick live demo of um hit splits so here we have a repository which again I'll link online on uh in the Discord Channel as well so a lot of it is already we're just going to set this up really quickly but I've already set this up quickly um and if you want to you can just follow to get started see um yeah so you can follow this at this get started bit here so it just helps to get this spread up so we're just going to test we're going to create a test file and um just test mint and go so here we've initialized the contracts already so for we're going to use Dyer's class Hall this is the pool contract from the RV Pros fall which is kind of the main contract that you would interact with and then the go to open contract again there's like a setup setup here so you're running the girly for testnet sorry can everyone see that or do you want it bigger um so sorry so here we're going to test uh test minting go so as I said before you have to supply collateral so we're going to supply die using the RV contract so as you can see here we need the asset and amount who is applying on behalf of and then the referral code which will just be zero so we can say that we are supplying to the pool we need the address of the of what we're going to supply so that is going to be die and then since all right you see all my favorite ones and we're going to say that we are the user sorry I should have said before we we've already initialized our address so we're going to be the user here okay so to use RV pool we will need to approve the the die funds that will go in so diet approved and then approve the pool okay and then we're going to Mint Tango and as I said before about the variable the variable mode so this is going to be set to 2 because of the the way that it's implemented in the contract so we want to borrow go so we're just using the same tokens that we initialize above so we want 10 variable mode two and then because we are mincing it as he is a and so we want to send 10 to our friend Ronnie um so we can initialize the Ronnie address and we will just random address and then we're going to transfer the 10 go to Ronnie I assume you all know Ferrari that it's running okay so let's see that and then just test okay yay it worked thank you thank you I didn't think you would actually plant like it's fine okay so as we have sent 10 go to Ronnie Ronnie says thank you bye Broadway tickets you are good everyone you're all flakes just to say yes put him do I have time to test it typescript um it's it's just the JavaScript sck anyway oh sorry okay five four three two one previous please okay this also doesn't guarantee tickets just to tell you so you why not get one um but okay so we have so for the actual hackathon we have ten thousand dollars for the best projects on Ave and go with uh first 3500 second 2500 third 1500 and then the the five best go Integrations will receive 500 each um and then also for the best uh best projects that build on RV and go you may also get Robbie tickets so if you've not been successful now build on our way and go and then we can hopefully ease that up so we have some some ideas here these are all Linked In the in the East Global um prizes page so it's just some ideas of what you can get started on we really want people to build uh look into payments so like create an app or a plug-in to buy and pay would go anywhere we were really interested in in what you can come up with look and I know a few of you have come over and said about account abstraction so that's really great we're really interested in that and there's so many different things that we Roots you can go down on the RV side again there's so much here we Health fat simulator would be really really good to see because if you use are they regularly you'll definitely know that how important this helipator is um governance visualizations it would be great to see what what aspects you can look at from Ave governance um and ZK proofs definitely looking to utilize zico proofs sorry that was not accurate what's up um and so yeah the uh this is not a Runway ticket this is the this is a link to all the resources on the Eve Global prizes page so um we've got all the links for the prizes the ideas that we have tons of resources for all the docs um and I will link everything in Discord as well um so thank you all very much for coming um we we have a big RV Ran's team here so if you want to come to the booth come and see come and grab some swag and um we're here to answer any questions we'll also be here tonight as well like uh later on if you want to talk through any projects thank you very much foreign