Aave Labs is taking a proactive approach to drive the future success of the GHO stablecoin by implementing a strategic plan for cross-chain functionality. This initiative aims to enhance the accessibility and versatility of GHO across various blockchain networks.
To achieve this, Aave Labs has incorporated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) after receiving approval through a community vote. By adopting CCIP, Aave Labs establishes a secure foundation for GHO’s cross-chain activities, enabling seamless integration with different blockchain environments.
In order to determine the most suitable network for GHO’s initial cross-chain deployment, Aave Labs is exploring various opportunities. The potential networks being considered include Optimism, Avalanche, Metis, Scroll, and Arbitrum. Each of these networks offers unique features and benefits that could enhance GHO’s overall functionality and scalability.
Aave Labs places great importance on community involvement in the decision-making process. Community members are encouraged to review detailed proposals from each network, engage in discussions, and provide valuable feedback. This collaborative approach ensures that the chosen network aligns with the collective vision and needs of the GHO ecosystem.
The selection process will culminate in a community-wide vote on April 13, 2024. This vote will play a pivotal role in determining the network that will kickstart GHO’s cross-chain journey. Aave Labs invites all stakeholders, including DAO members and risk providers, to actively participate in this voting process and contribute to the successful integration of GHO across multiple blockchain networks.
Through this strategic rollout plan for cross-chain functionality, Aave Labs is paving the way for GHO’s expansion and establishing the stablecoin as an integral player in the decentralized finance ecosystem.