the decentralized stablecoin GHO lands on the mainnet of Ethereum (ETH)

Aave : le stablecoin décentralisé GHO débarque sur le mainnet Ethereum (ETH)

Decentralized finance protocol Aave has taken another big step by officially rolling out its decentralized GHO GHO stable, following a massive vote of support from its community. So far, users can stake GHO by depositing cryptocurrencies as collateral on Aave.

Aave deploys its GHO stablecoin

The decentralized financial protocol Aave has formalized the launch of its decentralized GHO stablecoin after an overwhelmingly favorable vote from his community. As mentioned in Aave’s press release, users can hit GHO (pronounced GO) when they deposit cryptocurrencies as collateral on the protocol.

Like Aave, the GHO stablecoin was designed in a completely decentralized way, which is why its creation, deployment and future managed entirely by the decentralized autonomous organization (DAO) of the protocol. Therefore, any change that is applied to the GHO will have to be the subject of a vote within the DAO, which will decide whether such a proposal must be accepted, or whether or not it must be rejected.

👉 Discover our guide to buying Aave quickly and easily

The GHO was deployed today on the Aave V3 market with a maximum issue set at 100 million dollars, a ceiling that can be modified later through the DAO system just mentioned. In addition, AAVE token holders will be able to benefit from a 30% discount on the GHO lending rate if they decide to deposit their tokens as collateral, ensuring a virtuous circle for the protocol.

“As Aave’s native decentralized and hyper-collateralized asset, GHO has the potential to become a stable primary currency and, in the future, an important payment layer for the Internet. »

The GHO will be introduced through “enablers”, entities hand-picked by DAO Aave, who will have GHO reserves (called “buckets”). To begin with, the GHO will be distributed through the “Ethereum V3 Pool” and “FlashMinter Facilitator” facilitators.

As the name suggests, the first is based on the Aave V3 market liquidity pool on Ethereum (ETH). Meanwhile, the FlashMinter allows the use of flash loans to provide instant liquidity.

This step forward by Aave shows the interest of DeFi platforms in creating dedicated decentralized stablecoins, after Curve rolled out its own (crvUSD) last May.

👉 To read – Telegram: merchants can receive payments in cryptocurrencies

The reference platform to buy and trade more than 600 cryptos

10% off fees with code SVULQ98B ?

toaster icon

What you need to know about affiliate links. This page may contain investment related assets, products or services. Some links in this article may be affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no influence on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be responsible, directly or indirectly, for any damage or loss incurred after the use of a product or service highlighted in the This article. Investments involving crypto-assets are inherently risky, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, high risk is associated with a product with high return potential. This risk must be in line with your project, your investment horizon and your ability to lose some of these savings. Do not invest unless you are prepared to lose all or part of your capital.

To go further, read our Financial Status, Media Transparency and Legal Notices pages.

Here's why Ethereum could explode as SpongeBob Coin ($SPONGE) gains 1,961%

Ethereum Fails to Hold $2000 as New Memecoin Explodes in PreSale –

BlackRock : Larry Fink continue de faire la promotion du Bitcoin (BTC)

Larry Fink continues to promote Bitcoin (BTC).