Aave Releases Proposal on $GHO Stablecoin's Mainnet Launch

Aave Releases Proposal on $GHO Stablecoin's Mainnet Launch

Aave Companies released a governance proposal in the Aave forum regarding the mainnet launch of $GHO, Aave's native stablecoin. It proposes launching $GHO with two initial facilitators: the Aave V3 Ethereum Facilitator and the FlashMinter Facilitator. If the proposal is approved by the Aave DAO via the subsequent vote, users of Aave V3 on Ethereum will be able to mint $GHO against their collateral, and the DAO treasury will receive 100% of the interest payments made on $GHO borrows as additional revenue.

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.

In addition, Aave Companies said that after $GHO is live on the mainnet, a multi-chain strategy will be proposed to the community.

 

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Source

DeFi

Stablecoins

Aave

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