Description To continue along the lines of my hackathon winning project “Burra Vault” (https://www.youtube.com/live/tEKQqmg4-w8?si=YZHCt8oFVD9l0K34&t=1258), I want to propose a new version called “Burra v2”. Please have a look to the live demo to know more about the project I started on LFGHO hackathon.

Disclaimer 1: This project is not the same I proposed at LFGHO! Burra v2 is an upgrade, more suitable for a real use case.

Disclaimer 2: This Project is in an embryonal phase.

Why am I applying to the QF?

The reason I'm asking for QF is to have the resources to keep going on building Burra v2 and get some user traction to later propose it to Aave governance.

Burra V2 has a GHO minting strategy aimed to keep GHO pegged to the dollar. The strategy is based on the collateral/GHO ratio and depends from the real market price of GHO. when GHO price is above 1 dollar, Burra Incentivize users to borrow GHO by setting a lower Collateral/GHO ratio. this way, user will mint more GHO, GHO supply will increase, and GHO real market price will slowly come back to 1 dollar.

Burra Will do the opposite when GHO price is below 1 dollar: it will set a higher collateralization ratio deterring users from minting new GHO and slowing down the growth of GHO supply. consequentially, GHO price will come back to 1 dollar.

Note that the GHO protocol invariant will remain the same: GHO should always be over-collateralized.

Deliverables

The deliverables are:

A set of smart contracts built with Foundry implementing the dynamic described above, deployed on sepolia

A deployed web app, so users can interact and test the contracts

Documentation and open repository

Mediatic coverage (X + Farcaster)