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Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet

Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet

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DateJun 08, 2023

The developer proposed two key features for the decentralized stablecoin in a governance post on Tuesday.

Lending protocol Aave’s gho (GHO) stablecoin took a step closer to an Ethereum mainnet launch as the developer proposed two key features that would benefit holders while keeping the token’s stability intact.Gho has been available on the Ethereum blockchain’s Goerli testnet since February, where it has functioned without encountering any major bugs.

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In a governance post on Tuesday, developer Aave Companies proposed the V3 Ethereum Facilitator – to allow for gho lending against collateral deposits – and the FlashMinter Facilitator – a variant of flash loans, or loans that are issued against zero collateral.Know More - DeFi Solutions

Gho was first proposed in June last year as a decentralized stablecoin backed by a basket of cryptocurrencies chosen at the discretion of Aave users, while borrowers would continue earning interest on their underlying collateral.

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Source - https://www.coindesk.com/tech/2023/06/07/aave-lending-protocol-moves-closer-to-launching-gho-stablecoin-on-ethereum-mainnet/

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