Aave to Launch Its Stablecoin $GHO on the Ethereum Mainnet

The Aave community's proposal to deploy its stablecoin $GHO on the Ethereum mainnet has been approved by vote and will be implemented on-chain within one day.

The Proposal aims to launch Aave's decentralized stablecoin $GHO on the mainnet, which aims to introduce $GHO to Ethereum through the Aave V3 Facilitator and FlashMinter Facilitator. If the vote passes, Aave V3 users on Ethereum will be able to use collateral to mint $GHO.

The Facilitators is a concept introduced by $GHO. A Facilitator (such as a protocol, an entity, etc.) can generate (and burn) $GHO tokens up to a certain bucket size. The Aave V3 Ethereum Facilitator would allow depositors to borrow $GHO against their collateral which is deposited in the V3 Ethereum Mainnet Pool. The FlashMinter Facilitator would let users FlashMint (similar to FlashLoan) $GHO and repay in a single transaction, instead of borrowing assets from a pool.

Related: Aave Releases Proposal on $GHO Stablecoin's Mainnet Launch

Aave's Native Stablecoin $GHO Goes Live on Ethereum's Goerli Testnet

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.