Aave Launches its Stablecoin GHO on Ethereum Mainnet

Decentralized finance protocol (DeFi) Aave has just launched the decentralized stablecoin GHO on the Ethereum mainnet with 100% community support.

It is worth noting that the project developers launched the coin on the Goerli testnet in February.

According to the statement:

“More than two years ago, the Aave community recognized the need for an Aave-native decentralized and overcollateralized stablecoin that would empower users and serve as a payment layer.”

The architecture of the stablecoin is based on the Ethereum Facilitator smart contract system. The issuance of the currency is carried out by community-approved intermediaries – “facilitators.” The first of them was the Aave v3 marketplace on Ethereum. The third version of the protocol has advanced risk control functions, the developers have noted.

These have added:

“GHO can be minted against all the assets that are available as collateral on the Aave V3 market on Ethereum. This will ensure that GHO is multi-collateral, allowing users to mint GHO with any composition of assets they supply to the protocol.”