Ready. Set. GHO.

Aave Companies is moving ahead to launch its new decentralized stablecoin, that will be native to its Aave Protocol, on the Ethereum mainnet.

Aave said in a release that its new stablecoin (the name is pronounced “go”) is designed to offer more transparency for users and will be minted through an array of collateral assets held by users across the Aave Protocol. By making use of this mix of assets, Aave says it will offer more flexibility to its users.

Right now, Aave already has pools that users can access for 30 Ethereum-based tokens, including other stablecoins like Tether and USDC. It also offers pools that count real-world assets, like real-estate, that can be tokenized for purchase or held as collateral.

A stablecoin is an entirely digital token that draws its value from its peg to a fiat currency or other asset. For Aave, issuing a stablecoin is meant to improve accessibility for users across its ecosystem at lower cost and improve efficiency within its market. 

The idea of launching GHO first emerged through a proposal to the Aave DAO in June 2022. After receiving the community’s approval to go ahead, Go to Source to See Full Article
Author: Nicholas Morgan

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