- Now the asset is available on Aave V3 Ethereum and FlashMinter
- Ethereum mainnet will give it new perspectives
- Participants have previously proposed integrating the protocol with Coinbase’s Base
Aave Management Forum published a new proposal put forward by an ARFC member. We are talking about the launch of the native stablecoin GHO on the main Ethereum network.
If a majority votes for the idea, then users will be able to spend a deposit on the release of GHO. At the same time, the DAO treasury will receive interest on the GHO loan as additional income.
After GHO integration, DAO will be able to change the interest rate based on market conditions. Such decisions will be made through the management process. GHO financial issues are decided by Aave DAO in a decentralized way by voting.
Parallel Protocol considers another suggestion is to deploy the V3 version on the Base network.
Aave started developing its own stablecoin last summer. It is denominated in dollars and allows users to mint GHO against collateral they provide to other clients. In this case, all interest payments are sent to AaveDAO. When a user repays their debt or is liquidated, the protocol burns their GHO tokens.
Aave is one of the top DeFi lending protocols. The project blocked assets in the amount of $5.43 billion. This is evidenced by the data of the analytical service DefiLlama. But before the start of the crypto winter, this amount was twice as high.