• Market Cap: $1,108,131,849,312.65
  • 24h Vol: $36,897,933,685.26
  • BTC Dominance: 47.50%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Aave to launch overcollateralized stablecoin called GHO

Jon Hartney by Jon Hartney
July 8, 2022
in Bitcoin, Blockchain, Business, Market
0
Aave to launch overcollateralized stablecoin called GHO
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

GHO would allow users to borrow the stablecoin while still learning yield on their locked assets on Aave, however the proposal is just seeking feedback at this stage.

Decentralized finance (DeFi) giant Aave has unveiled plans to launch an overcollateralized stablecoin called GHO, subject to the community DAO’s approval.

The announcement was made by Aave Companies — the centralized entity supporting the Aave protocol on its Twitter page on July 7, stating: 

Related articles

X Announces Upcoming Payment Integration: Dogecoin On The List?

X Announces Upcoming Payment Integration: Dogecoin On The List?

September 21, 2023
Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

September 21, 2023

“We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.”

According to the governance proposal shared on Thursday, GHO would be an Ethereum-based and decentralized stablecoin pegged to the U.S. dollar (USD) that could be collateralized with multiple assets of the user’s choice.

To obtain GHO, users would need to mint the stablecoin against their deposited collateral however, the list of supported collateralized assets and the collateral ratio has yet to be detailed.

As users are essentially borrowing the stablecoin against their holdings, the position will need to be overcollateralized as per any normal Aave loan.

“With community support, GHO can be launched on the Aave Protocol, allowing users to mint GHO against their supplied collaterals. GHO would be backed by a diversified set of crypto-assets chosen at the users’ discretion, while borrowers continue earning interest on their underlying collateral.”

The proposal notes that 100% of the interest payments accrued by GHO minters would be “directly transferred to the AaveDAO treasury; rather than the standard reserve factor collected when users borrow other assets.”

Holders of the staked AAVE token (stkAAVE) would also benefit from the stablecoin’s adoption, as Aave Companies has proposed that they would also be able to mint and borrow GHO at a discounted rate.

“If the community votes positively for the deployment of the protocol creating the ability for users to mint GHO, a recommended starting interest rate and discount rate will be proposed,” the team stated, adding that an audit would happen over the next few weeks if all goes to plan.

Aave founder Stani Kulechov stated via Twitter that the team has a broader vision of the USD-pegged asset:

“While GHO would be secured by the assets on the Ethereum market, the main vision for GHO is to pursue organic adoption via L2s to solve real life payment opportunities across the internet and on-ground.”

BREAKING: The @AaveAave team submitted ARC to launch a self-sovereign overcollateralized stablecoin GHO backed by the Aave Protocol collaterals https://t.co/YHpLmipLjl

— stani.lens (,) (@StaniKulechov) July 7, 2022

Aave is an automated DeFi protocol that enables users to lend and borrow digital assets without needing to go through or obtain approval from a centralized intermediary. The latest proposal to the DAO has coincided with Aave’s native token AAVE gaining 15.04% over the past 24 hours to sit at $72.31 at the time of writing.

Related: Web3 will unite users from social media platforms, says Aave exec

According to data from DeFi Llama, Aave is the second-largest DeFi platform in terms of total value locked (TVL) at $6.76 billion. The ecosystem is based on Ethereum and also supports multiple Layer 2s including Polygon, Optimism and Arbitrum.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

X Announces Upcoming Payment Integration: Dogecoin On The List?

X Announces Upcoming Payment Integration: Dogecoin On The List?

by Jon Hartney
September 21, 2023
0

Dogecoin enthusiasts are buzzing with anticipation following recent developments at X, the platform previously known as Twitter As part of...

Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

by Jon Hartney
September 21, 2023
0

Polygon (MATIC) enthusiasts remain undeterred as they continue to push the price of the digital asset higher despite a prevailing...

Phishing victim sends eye-watering $4.5M in USDT to scammer

Phishing victim sends eye-watering $4.5M in USDT to scammer

by Jon Hartney
September 21, 2023
0

On-chain data shows the $45 million was first transferred from the Kraken crypto exchange before eventually arriving at

Optimism to sell $160M in OP tokens to 7 purchasers via private sale

Optimism to sell $160M in OP tokens to 7 purchasers via private sale

by Jon Hartney
September 21, 2023
0

The Optimism network has revealed that it will sell 116 million OP tokens in a series of planned sales

UK politicians don metaverse avatars as they share Web3 roadmap

UK politicians don metaverse avatars as they share Web3 roadmap

by Jon Hartney
September 21, 2023
0

“Web3 represents a paradigm shift that reimagines the very fabric of the internet,” said British MP Natalie

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
X Announces Upcoming Payment Integration: Dogecoin On The List?

X Announces Upcoming Payment Integration: Dogecoin On The List?

September 21, 2023
Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

Polygon (MATIC) Comeback Challenges – What’s Holding It Back?

September 21, 2023
Phishing victim sends eye-watering $4.5M in USDT to scammer

Phishing victim sends eye-watering $4.5M in USDT to scammer

September 21, 2023
Optimism to sell $160M in OP tokens to 7 purchasers via private sale

Optimism to sell $160M in OP tokens to 7 purchasers via private sale

September 21, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • X Announces Upcoming Payment Integration: Dogecoin On The List? September 21, 2023
  • Polygon (MATIC) Comeback Challenges – What’s Holding It Back? September 21, 2023
  • Phishing victim sends eye-watering $4.5M in USDT to scammer September 21, 2023
  • Optimism to sell $160M in OP tokens to 7 purchasers via private sale September 21, 2023
  • UK politicians don metaverse avatars as they share Web3 roadmap September 21, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$26,983.00-0.51%
  • ethereumEthereum(ETH)$1,617.79-1.06%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$213.13-1.48%
  • rippleXRP(XRP)$0.51-0.72%
  • usd-coinUSD Coin(USDC)$1.00-0.03%
  • staked-etherLido Staked Ether(STETH)$1,616.62-1.07%
  • dogecoinDogecoin(DOGE)$0.0625420.29%
  • cardanoCardano(ADA)$0.249824-1.33%
  • solanaSolana(SOL)$19.91-0.35%
  • ToncoinToncoin(TON)$2.36-6.19%
  • tronTRON(TRX)$0.083601-1.14%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.160.38%
  • polkadotPolkadot(DOT)$4.11-0.46%
  • matic-networkPolygon(MATIC)$0.54-0.75%
  • litecoinLitecoin(LTC)$64.33-3.12%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,943.00-0.46%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.36%
  • bitcoin-cashBitcoin Cash(BCH)$212.85-1.39%
  • daiDai(DAI)$1.00-0.12%
  • chainlinkChainlink(LINK)$6.810.12%
  • leo-tokenLEO Token(LEO)$3.832.10%
  • true-usdTrueUSD(TUSD)$1.00-0.10%
  • uniswapUniswap(UNI)$4.31-2.03%
  • avalanche-2Avalanche(AVAX)$8.96-1.53%
  • stellarStellar(XLM)$0.113823-3.75%
  • moneroMonero(XMR)$147.20-0.15%
  • okbOKB(OKB)$43.09-2.06%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • binance-usdBinance USD(BUSD)$1.00-0.01%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.43-1.15%
  • cosmosCosmos Hub(ATOM)$7.450.96%
  • hedera-hashgraphHedera(HBAR)$0.0507730.44%
  • filecoinFilecoin(FIL)$3.29-2.41%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • lido-daoLido DAO(LDO)$1.56-0.57%
  • crypto-com-chainCronos(CRO)$0.0513280.69%
  • internet-computerInternet Computer(ICP)$2.98-1.13%
  • quant-networkQuant(QNT)$89.77-1.69%
  • MantleMantle(MNT)$0.401993-0.28%
  • vechainVeChain(VET)$0.017509-0.65%
  • AptosAptos(APT)$5.15-0.48%
  • makerMaker(MKR)$1,333.172.61%
  • optimismOptimism(OP)$1.34-2.59%
  • ArbitrumArbitrum(ARB)$0.84-1.74%
  • nearNEAR Protocol(NEAR)$1.130.95%
  • KaspaKaspa(KAS)$0.048970-5.79%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,756.23-1.04%
  • aaveAave(AAVE)$63.723.42%
  • BitDAOBitDAO(BIT)$0.592.96%
  • the-graphThe Graph(GRT)$0.0898620.23%
  • immutable-xImmutableX(IMX)$0.7028.61%
  • algorandAlgorand(ALGO)$0.0990293.93%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.330.14%
  • xdce-crowd-saleXDC Network(XDC)$0.053607-1.94%
  • usddUSDD(USDD)$1.00-0.06%
  • elrond-erd-2MultiversX(EGLD)$26.894.20%
  • havvenSynthetix Network(SNX)$2.11-1.94%
  • blockstackStacks(STX)$0.484462-0.54%
  • fraxFrax(FRAX)$1.00-0.04%
  • eosEOS(EOS)$0.58-0.02%
  • Bitget TokenBitget Token(BGB)$0.453810-0.68%
  • tezosTezos(XTZ)$0.67-0.57%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • the-sandboxThe Sandbox(SAND)$0.300154-0.33%
  • injective-protocolInjective(INJ)$7.25-2.08%
  • render-tokenRender(RNDR)$1.632.26%
  • bitcoin-cash-svBitcoin SV(BSV)$31.27-0.41%
  • radixRadix(XRD)$0.0578651.49%
  • theta-tokenTheta Network(THETA)$0.59-3.82%
  • axie-infinityAxie Infinity(AXS)$4.50-0.28%
  • decentralandDecentraland(MANA)$0.2989680.76%
  • fantomFantom(FTM)$0.191944-0.23%
  • thorchainTHORChain(RUNE)$1.78-5.27%
  • gatechain-tokenGate(GT)$3.870.30%
  • neoNEO(NEO)$7.49-0.47%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • paxos-standardPax Dollar(USDP)$1.00-0.02%
  • kavaKava(KAVA)$0.63-0.52%
  • compound-ethercETH(CETH)$32.49-1.01%
  • pax-goldPAX Gold(PAXG)$1,920.910.18%
  • tether-goldTether Gold(XAUT)$1,926.53-0.15%
  • ecasheCash(XEC)$0.000024-6.36%
  • flowFlow(FLOW)$0.4530031.92%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • Halo CoinHalo Coin(HALO)$0.057345-0.05%
  • convex-crvConvex CRV(CVXCRV)$1.47184.01%
  • kucoin-sharesKuCoin(KCS)$4.550.90%
  • rocket-poolRocket Pool(RPL)$21.61-3.35%
  • Frax EtherFrax Ether(FRXETH)$1,615.07-1.04%
  • chilizChiliz(CHZ)$0.0592240.40%
  • apecoinApeCoin(APE)$1.12-1.51%
  • iotaIOTA(MIOTA)$0.147584-0.20%
  • Tokenize XchangeTokenize Xchange(TKX)$5.06-0.10%
  • curve-dao-tokenCurve DAO(CRV)$0.4496332.30%
  • frax-shareFrax Share(FXS)$5.330.22%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.11%