TokenLogic’s Oct. 15 proposal would create a permissioned GHO Stability Module on Avalanche, letting approved counterparties swap waUSAT, a receipt for USAT supplied to Aave V4, for GHO. Approval would be checked on every swap in both directions, so revocation could prevent a counterparty from swapping GHO back for waUSAT, even after an earlier deposit. The return swap would deliver a receipt token, not USAT or dollars.
Getting dollars would also depend on withdrawing USAT from Aave and qualifying to redeem it with issuer Anchorage Digital Bank. Withdrawals depend on available liquidity and an unpaused reserve; Anchorage limits redemption to eligible clients under written agreements and charges a 10-basis-point fee. As of Oct. 18, the proposal still called for a Snapshot vote and, if approved, an implementation proposal; key addresses and contracts remained unspecified.
