Aave prepares to deploy its GHO stablecoin on Ethereum

The stablecoin protocol DeFi comes close to a launch on the mainnet Ethereum. With GHO, Aave wants to introduce the concept of ” facilitators .

Issued on the Goerli testnet several months ago, the decentralized stablecoin of the Aave lending protocol should soon make its debut on the main network of the Ethereum blockchain.

Tuesday, Aave Companiesthe main entity behind the protocol, has in fact proposed to deploy GHO on the Mainnet Ethereum with Aave V3 Ethereum Facilitator and FlashMinter Facilitator.

Following the approval of this proposal and subsequent AIP, Aave V3 users on Ethereum will be able to mine GHO against their collateral, kicking off a new era for the Aave and Aave DAO ecosystem,” the startup wrote.

With GHOAave introduces the concept of facilitators . A facilitator, either a protocol or an entity, can generate (and burn) GHO tokens up to a certain extent, according to the announcement. “Two enablers, along with their initial parameters, were approved during the TEMP CHECK phase by Aave Governance, theAave V3 Ethereum Pool and the FlashMinter .

Read:  Kingsway directs a B-series for Bitcoin expert River

The Aave V3 Ethereum Pool facilitator will enable depositors to borrow GHO against their collateral deposited in the main Ethereum V3 pool. FlashMinter, meanwhile, will offer functionality similar to a Flashloan. Rather than borrowing assets from a pool, users will be able to “FlashMint GHO and repay in a single transaction.

Following the launch of GHO, a multi-chain strategy will be offered to the community,” concluded Aave Compagnies.

Follow RoyalsBlue.com on TwitterLinkedin, Facebook or Telegram so you don’t miss a thing.

The Best Online Bookmakers July 16 2024

BetMGM Casino

BetMGM Casino