Aave is preparing its own GHO stablecoin – a competitor to DAI
Aave’s DeFi ecosystem could be joined by a GHO stablecoin. The company brought the issue up for discussion at AaveDAO.
Stablecoin GHO should get redundant collateral similar to the popular decentralized stablecoin DAI. And it can be issued by Aave users who provide their assets as collateral.
Moreover, the deposited funds will continue to generate income at the interest rate of the pledge.
Users who already have stkAAVE pledged in the security module will receive a discount on GHO issuance.
AaveDAO members will set interest rates on loans and staking based on market conditions.
Aave founder Stani Kulekhov said that work on stablecoin is in its final stages, and the company will conduct an audit on July 11.
Ola Peterson is the author of eDieta in Cryptocurrency and Blockchain and lives in Toronto.
A very inquisitive person who is passionate about new technologies.
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