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diff --git a/diffs/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_before_AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_after.md b/diffs/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_before_AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_after.md
new file mode 100644
index 000000000..bf9de31f0
--- /dev/null
+++ b/diffs/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_before_AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_after.md
@@ -0,0 +1,43 @@
+## Reserve changes
+
+### Reserves altered
+
+#### GHO ([0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f](https://etherscan.io/address/0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f))
+
+| description | value before | value after |
+| --- | --- | --- |
+| interestRateStrategy | [0x1255fC8DC8E76761995aCF544eea54f1B7fB0459](https://etherscan.io/address/0x1255fC8DC8E76761995aCF544eea54f1B7fB0459) | [0xE7C0AE65f7D52E121654eEa0A57b4af0894F6D27](https://etherscan.io/address/0xE7C0AE65f7D52E121654eEa0A57b4af0894F6D27) |
+| baseVariableBorrowRate | 3 % | 4.72 % |
+| interestRate |  |  |
+
+## Raw diff
+
+```json
+{
+ "reserves": {
+ "0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f": {
+ "interestRateStrategy": {
+ "from": "0x1255fC8DC8E76761995aCF544eea54f1B7fB0459",
+ "to": "0xE7C0AE65f7D52E121654eEa0A57b4af0894F6D27"
+ }
+ }
+ },
+ "strategies": {
+ "0xE7C0AE65f7D52E121654eEa0A57b4af0894F6D27": {
+ "from": null,
+ "to": {
+ "baseStableBorrowRate": 0,
+ "baseVariableBorrowRate": "47200000000000000000000000",
+ "maxExcessStableToTotalDebtRatio": 0,
+ "maxExcessUsageRatio": 0,
+ "optimalStableToTotalDebtRatio": 0,
+ "optimalUsageRatio": 0,
+ "stableRateSlope1": 0,
+ "stableRateSlope2": 0,
+ "variableRateSlope1": 0,
+ "variableRateSlope2": 0
+ }
+ }
+ }
+}
+```
\ No newline at end of file
diff --git a/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol
new file mode 100644
index 000000000..b7788903b
--- /dev/null
+++ b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol
@@ -0,0 +1,22 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {AaveV3Ethereum, AaveV3EthereumAssets} from 'aave-address-book/AaveV3Ethereum.sol';
+
+/**
+ * @title GHO - Increase Borrow Rate
+ * @author @Marczeller - ACI
+ * - Snapshot: https://snapshot.org/#/aave.eth/proposal/0x9789e054e29f63da5713368be2dd0b4006f4564ef5e48c9d5e994ec20e932e35
+ * - Discussion: https://governance.aave.com/t/arfc-gho-increase-borrow-rate/15271
+ */
+contract AaveV3Ethereum_GHOIncreaseBorrowRate_20231108 {
+
+ address public constant INTEREST_RATE_STRATEGY = 0xE7C0AE65f7D52E121654eEa0A57b4af0894F6D27;
+
+ function execute() external {
+ AaveV3Ethereum.POOL_CONFIGURATOR.setReserveInterestRateStrategyAddress(
+ AaveV3EthereumAssets.GHO_UNDERLYING,
+ INTEREST_RATE_STRATEGY
+ );
+ }
+}
diff --git a/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.t.sol b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.t.sol
new file mode 100644
index 000000000..bb49dee49
--- /dev/null
+++ b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.t.sol
@@ -0,0 +1,32 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {AaveV3Ethereum} from 'aave-address-book/AaveV3Ethereum.sol';
+
+import 'forge-std/Test.sol';
+import {ProtocolV3TestBase, ReserveConfig} from 'aave-helpers/ProtocolV3TestBase.sol';
+import {AaveV3Ethereum_GHOIncreaseBorrowRate_20231108} from './AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol';
+
+/**
+ * @dev Test for AaveV3Ethereum_GHOIncreaseBorrowRate_20231108
+ * command: make test-contract filter=AaveV3Ethereum_GHOIncreaseBorrowRate_20231108
+ */
+contract AaveV3Ethereum_GHOIncreaseBorrowRate_20231108_Test is ProtocolV3TestBase {
+ AaveV3Ethereum_GHOIncreaseBorrowRate_20231108 internal proposal;
+
+ function setUp() public {
+ vm.createSelectFork(vm.rpcUrl('mainnet'), 18527567);
+ proposal = new AaveV3Ethereum_GHOIncreaseBorrowRate_20231108();
+ }
+
+ /**
+ * @dev executes the generic test suite including e2e and config snapshots
+ */
+ function test_defaultProposalExecution() public {
+ defaultTest(
+ 'AaveV3Ethereum_GHOIncreaseBorrowRate_20231108',
+ AaveV3Ethereum.POOL,
+ address(proposal)
+ );
+ }
+}
diff --git a/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate.md b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate.md
new file mode 100644
index 000000000..813e8d46f
--- /dev/null
+++ b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate.md
@@ -0,0 +1,37 @@
+---
+title: "GHO - Increase Borrow Rate"
+author: "@Marczeller - ACI"
+discussions: "https://governance.aave.com/t/arfc-gho-increase-borrow-rate/15271"
+---
+
+## Simple Summary
+
+This publication proposes increasing the GHO Borrow Rate from 3.00% to 4.72%, slightly below the proposed sDAI rate.
+
+## Motivation
+
+By increasing the borrow rate to 4.72%, the goal is to improve the peg by reducing the incentive to mint GHO relative to other stable coins. As a result, GHO's growth is expected to slow. This publication prioritises returning GHO to peg over growth.
+
+After implementing this proposal, the community can continue with the current plan, direct-to-AIP process for 50 bps increments every 30 days, as long as the GHO peg is outside 0,995<>1,005 monthly average price range, up to 5.5% borrow rate.
+
+## Specification
+
+Asset: GHO
+Contract Address: 0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f
+Current Borrow Rate: 3.00%
+Proposed Borrow Rate: 4.72%
+New discounted Borrow Rate: ~3.31%
+
+The discount for stkAave holders remains unchanged at 30%.
+The Aave Facilitator Bucket Level is to remain at 35.00M units
+
+## References
+
+- Implementation: [AaveV3Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol)
+- Tests: [AaveV3Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.t.sol)
+- [Snapshot](https://snapshot.org/#/aave.eth/proposal/0x9789e054e29f63da5713368be2dd0b4006f4564ef5e48c9d5e994ec20e932e35)
+- [Discussion](https://governance.aave.com/t/arfc-gho-increase-borrow-rate/15271)
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
diff --git a/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate_20231108.s.sol b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate_20231108.s.sol
new file mode 100644
index 000000000..d845ae190
--- /dev/null
+++ b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate_20231108.s.sol
@@ -0,0 +1,52 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/GovV3Helpers.sol';
+import {EthereumScript} from 'aave-helpers/ScriptUtils.sol';
+import {AaveV3Ethereum_GHOIncreaseBorrowRate_20231108} from './AaveV3Ethereum_GHOIncreaseBorrowRate_20231108.sol';
+
+/**
+ * @dev Deploy Ethereum
+ * command: make deploy-ledger contract=src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate_20231108.s.sol:DeployEthereum chain=mainnet
+ */
+contract DeployEthereum is EthereumScript {
+ function run() external broadcast {
+ // deploy payloads
+ AaveV3Ethereum_GHOIncreaseBorrowRate_20231108 payload0 = new AaveV3Ethereum_GHOIncreaseBorrowRate_20231108();
+
+ // compose action
+ IPayloadsControllerCore.ExecutionAction[]
+ memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
+ actions[0] = GovV3Helpers.buildAction(address(payload0));
+
+ // register action at payloadsController
+ GovV3Helpers.createPayload(actions);
+ }
+}
+
+/**
+ * @dev Create Proposal
+ * command: make deploy-ledger contract=src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate_20231108.s.sol:CreateProposal chain=mainnet
+ */
+contract CreateProposal is EthereumScript {
+ function run() external {
+ // create payloads
+ PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);
+
+ // compose actions for validation
+ IPayloadsControllerCore.ExecutionAction[]
+ memory actionsEthereum = new IPayloadsControllerCore.ExecutionAction[](1);
+ actionsEthereum[0] = GovV3Helpers.buildAction(0xA2DE136BFd7ff998C825229FdeBfAF77726c43eC);
+ payloads[0] = GovV3Helpers.buildMainnetPayload(vm, actionsEthereum);
+
+ // create proposal
+ vm.startBroadcast();
+ GovV3Helpers.createProposal2_5(
+ payloads,
+ GovV3Helpers.ipfsHashFile(
+ vm,
+ 'src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/GHOIncreaseBorrowRate.md'
+ )
+ );
+ }
+}
diff --git a/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/config.json b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/config.json
new file mode 100644
index 000000000..aeb6666e3
--- /dev/null
+++ b/src/20231108_AaveV3Ethereum_GHOIncreaseBorrowRate/config.json
@@ -0,0 +1,19 @@
+{
+ "rootOptions": {
+ "pools": [
+ "AaveV3Ethereum"
+ ],
+ "title": "GHO - Increase Borrow Rate",
+ "shortName": "GHOIncreaseBorrowRate",
+ "date": "20231108",
+ "author": "@Marczeller - ACI",
+ "discussion": "https://governance.aave.com/t/arfc-gho-increase-borrow-rate/15271",
+ "snapshot": "https://snapshot.org/#/aave.eth/proposal/0x9789e054e29f63da5713368be2dd0b4006f4564ef5e48c9d5e994ec20e932e35"
+ },
+ "poolOptions": {
+ "AaveV3Ethereum": {
+ "configs": {},
+ "features": []
+ }
+ }
+}
\ No newline at end of file