- The asset is now available on Aave V3 Ethereum and FlashMinter
- Mainnet Ethereum will give it a new perspective
- Participants previously proposed integration of the protocol with Base from Coinbase
The Aave Management Forum has published a new proposal put forward by ARFC member. It’s about launching a native GHO stablecoin on the Ethereum core network.
If a majority votes for the idea, users will be able to spend the pledge to issue GHOs. The DAO treasury will receive the interest on the GHO loan as additional income.
After the GHO integration, the DAO will be able to change the interest rate based on market conditions. Such decisions will be made through the management process. GHO’s financial issues are decided by Aave DAO in a decentralized way on a vote.
In parallel, the protocol is considering another proposal – to roll out a V3 version on the Base network.
Aave began developing its own stablcoin last summer. It is denominated in dollars and allows users to mine GHOs 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 DeFi’s top lending protocols. The project has blocked assets worth $5.43 billion. This is evidenced by data from the analytical service DefiLlama. But before the crypto-zima began, that amount was twice as high.