title: [ARFC] Launch sGHO Cross-Chain author: @TokenLogic created: 2026-06-24

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Summary

This proposal defines the cross-chain deployment strategy for sGHO, extending the savings product introduced in the sGHO Launch Configuration ARFC to Layer 2 networks. The design maintains a single ERC-4626 vault on Ethereum mainnet as the sole source of truth, using Chainlink CCIP to enable cross-chain deposit and withdrawal flows.

The architecture introduces two complementary paths:

• Fast Path: Pre-provisioned sGHO liquidity on destination chains enables instant GHO-to-sGHO (and vice versa) swaps for retail-sized deposits, modelled on the Direct Staking pattern used by Lido for wstETH cross-chain distribution.
• Slow Path: Larger deposits route GHO cross-chain to the mainnet vault via CCIP, with sGHO bridged back to the user on the origin chain (and vice versa).

Initial deployment targets Arbitrum, with subsequent expansion to CEX-aligned networks to support retail onboarding via the Aave App and Earn integrations.

Motivation

Introducing Cross-chain sGHO

sGHO is an interest-compounding ERC4626 token that accrues yield at the Aave Savings Rate (ASR) on Ethereum. Upon implementation, this proposal expands the sGHO offering to other networks, allowing users to access the sGHO savings product locally from each network. This approach continues the strategy of bringing the product to users and promoting a streamlined user experience through a universal savings vault.

By maintaining a single sGHO vault on Ethereum and distributing the sGHO token across other networks, every user enjoys the same universal savings rate. To enhance the user experience, the cross-chain sGHO implementation uses a Fast lane and a Slow lane for different transaction sizes. The Fast lane allows users to instantly exchange GHO ↔ sGHO without bridging between networks, whilst larger transactions route via the Slow lane, facilitating bridging, depositing, and bridging back transactions on the user’s behalf. We expect the dual-lane approach to deliver an improved user experience for retail-sized user positions (Aave App) via the Fast lane and for larger integrations to route via the Slow lane, reducing the need for secondary-market liquidity.

To support the Fast lane functionality, the Aave DAO will provide working capital that rotates between GHO and sGHO whilst fulfilling users’ orders. The amount of working capital supporting the sGHO liquidity pool locally on each network depends on the user’s position-size profiles and the volume of flows.

A non-exhaustive list of the advantages of having a single sGHO vault on Ethereum is presented below:

• Centralised accounting. Single source-of-truth vault. There is only one instance of the sGho vault where GHO can be deposited.
• Supply cap governance is simplified. The DAO manages one cap parameter rather than coordinating caps across multiple deployments.

• Liquidity is consolidated. GHO backing is never fragmented across chains, ensuring withdrawals are always serviced from a single deep pool.

This is the same architectural approach used by Lido for wstETH, where the staking vault exists on the Ethereum with the receipt token distributed cross-chain.

Cross-Chain Demand Drivers

Several near-term integrations require sGHO availability on L2 networks:

Aave App. The Aave App deposits user funds into a vault that allocates across yield sources. sGHO is a primary allocation target. The App requires programmatic deposit and withdrawal flows that work cross-chain without requiring users to interact directly with the Ethereum mainnet.

CEX-Chain Integrations. Partnerships with centralized exchanges operating on dedicated chains need sGHO access for earn products. These integrations are expected to generate predominantly retail-sized inflows, well-suited to the Fast path mechanism.

GhoRouter Composability. The GhoRouter enables atomic swaps between stablecoins (USDC, USDT) and stataTokens to sGHO via the GSM. Extending this flow cross-chain requires sGHO to be bridgeable while preserving atomicity for the Fast path.

Precedent

This architecture follows the pattern established by Lido for wstETH cross-chain distribution, as documented in Chainlink's Cross-Chain Staking reference architecture. The approach has been validated at scale with wstETH and is adapted here to sGHO's specific characteristics: ERC-4626 mechanics, GHO's status as a CCIP fee token, and supply cap constraints.

Specification

Architecture Overview

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Due to the Snapshot character limit, the remainder of this proposal can be viewed on the Aave Governance forum.