Aave Protocol launches stablecoin GHO on Ethereum mainnet, $2M minted

around its reserves — the assets backing GHO are transparent and verifiable and can be confirmed by on-chain data, according to Aave.

“All transactions are performed through self-executing smart contracts, and all data regarding GHO transactions is available and auditable directly from the blockchain or via numerous user interfaces,” Aave wrote. Additionally, Aave said GHO’s revenue would further bolster its DAO treasury, with governance being entrusted to AAVE and stkAAVE token holders.The GHO stablecoin is currently available to the public:

“Anyone can mint GHO using the assets they supply into the Aave Protocol V3 Ethereum market as collateral, ensuring that GHO is overcollateralized by a multitude of assets.”

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Source: Cointelegraph - 🏆 562. / 51 Read more »