• GHO has launched on the Ethereum mainnet.
• Aave has replaced MakerDAO as the DeFi protocol with the second-largest TVL.

Following the ratification of a proposal to do the same, lending protocol Aave [AAVE] finally launched its over-collateralized stablecoin GHO on the Ethereum Mainnet on 15 July. 

The Aave DAO has successfully launched @GHOAave on the Ethereum Mainnet. Congrats to the Aave community on this historic moment! pic.twitter.com/Br3QGqMU8X

— Aave (@AaveAave) July 15, 2023

Realistic or not, here’s AAVE’s market cap in BTC terms

According to the announcement blog post, with the stablecoin made available on Ethereum mainnet, “users can mint GHO on the Aave Protocol’s Ethereum V3 market against assets they have already supplied as collateral.”

The launch of GHO came after the execution of a governance proposal put forward by Aave’s decentralized autonomous organization on 10 July.

According to the blog post, the DAO is responsible for governing GHO. The members of this governing body will determine the stablecoin’s supply, interest rates, and minting limits. They will also approve and oversee Go to Source to See Full Article
Author: Abiodun Oladokun

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