Aave Dao opts for GHO StableCoin on Ethereum
Aave Dao opts for GHO StableCoin on Ethereum
The central theses
aave dao votes about the use of GHO on Ethereum
The members of the Aave Dao community begin with the vote as to whether the GHO stable coin should be used on the Ethereum blockchain. The members will start voting during the day.
aave is one of the leading cryptocurrency platforms in the world and enables users to achieve yields from their tokens used. GHO is the stable coin developed by the Aave team.
User can shape the GHOstablecoin against a diversified series of crypto-assets. According to the development team, GHO owners will continue to receive interest on the collateral provided, similar to the other credit services on AAVE.
The proposal would be introduced by so -called "intermediaries" if it is accepted. This enables Aave version 3 (V3) to shape the stable coin against token stocks available on the platform.
The proposal provides for the following:
"In the event of a permit, the introduction of GHO would make the borrowing of stable coins as part of the AAVE protocol more competitive and generate additional income for the AAVE DAO by forwarding 100 % of the interest payments for GHO loans to the DAO Finance Ministry."
GHO has been available on Ethereum blockchain since February
The latest news about cryptocurrencies This is not a surprise, since the GHO stable coin has been active in the Goerli test network of the Ethereum blockchain since February. So far there have been no major mistakes that affected the stable coin in Ethereum blockchain.
aave, the native coin of the Aave ecosystem, has increased by more than 3 % in the last 24 hours. At the time of printing, the price of Aave was $ 72.74 per coin.
The Aave team pointed out that it would enable users to shape GHO tokens against their collateral provided as soon as the stable coin is introduced in the Ethereum network.
The GHO stable coin would be supported by a wide range of cryptocurrencies that are selected by the users. In addition, borrowers would continue to receive interest for their assets stored as security.
similar to other algorithmic stable coins, GHO would be bound to $ 1. With GHO, however, users would have to provide collateral (in a certain collateral ratio) before they can shape GHO.
In addition, the GHO protocol burns when users pay their loans back, the GHO stable coins of this user.
Source: Coinlist.me
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