Aave to launch overcollateralized stablecoin called GHO
GHO would allow users to borrow the stablecoin while still learning yield on their locked assets on Aave, however the proposal is just seeking feedback at this stage. Decentralized finance (DeFi) giant Aave has unveiled plans to launch an overcollateralized stablecoin called GHO, subject to the community DAO’s approval. The announcement was made by Aave Companies — the centralized entity supporting the Aave protocol on its Twitter page on July 7, stating: "We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO."According to....
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Aave’s stablecoin approval drew wild reactions from the crypto community, with many comparing its fate to TerraUSD (UST); however, Aave proponents were quick to point toward the overcollateralized factor. Aave DAO, the governance body behind decentralized finance (DeFi) giant Aave (AAVE) protocol, has unanimously voted in favor of creating an overcollateralized stablecoin called GHO.The Aave company put up the GHO creation proposal on July 28, which received an overwhelming 99.9% community vote over the course of three days. The proposal ended on Jul 31 at 10:00 am GMT with 501,000 AAVE....
On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar’s value.
A New collateral-Backed Stablecoin Crafted by Aave Companies Is Due to Launch After the Aave DAO Votes on Genesis Parameters
Aave explained on Sunday that the Aave decentralized autonomous organization (DAO) approved a proposal to create a stablecoin token called....
A trader on Aave, a decentralized liquidity protocol operating on multiple platforms, including Ethereum and OP Mainnet, has begun selling wrapped Bitcoin (WBTC) to repay outstanding debt, records on October 13 reveal. WBTC is a tokenized version of Bitcoin issued on Ethereum that allows holders to engage in decentralized finance (DeFi) activities. Trader Selling WBTC To Repay Debt On Aave v2 According to Lookonchain data, the unidentified trader marked with address “0x47ab” borrowed roughly $8 million worth of multiple stablecoins, including USDC, USDT, and DAI, Maker’s stablecoin,....
Aave declared a kick-off of its new project this month to meet the abruptly growing demand from different institutions. According to their announcement, Aave, one of the leading DeFi money markets, will launch a permission payment platform for investors. The DeFi protocol is partnering with Fireblocks, a crypto service provider and custodian, to launch the […]
Aave, a decentralized finance lending platform, has recently announced the launch of ‘Lens Protocol’. The Web3 social media platform will be built on the Polygon network. This new launch is Aave’s attempt at expanding its opportunities by introducing varied operations. Aave has been working on this particular development for quite some time, it has now […]