New AAVE Stablecoin GHO is here! – Katoch Tubes

NEW AAVE stablecoin

NEW AAVE stablecoin

What is AAVE?

AAVE is the borrowing & lending protocol. It was launched in 2017 as ETHLand & raised $16 million in the ICO by selling AAVE tokens

AAVE Stablecoin

GHO is an yield generating stablecoin proposed by AAVE. It will be an algorithmic stablecoin without any peg unlike -

What Community said?

The proposal submitted by AAVE was put to vote. 99.9% community voters or members voted in favour of the stablecoin.

GHO is backed by?

The Stablecoin will be backed by over-collateralized loans consisting of cryptocurrencies  while earning yield.

How to mint GHO?

User has to deposit cryptocurrency accepted by AAVE protocol to mint GHO token. Check details -

Benefits of Stablecoin

Users who borrow GHO against crypto deposits will earn interest on the underlying collateral. Moreover, its a stable crypto asset accepted  by AAVE

GHO Implementation

The community has voted in favour of the stablecoin but it will take sometime for AAVE to inject GHO within the protocol via AAVE Improvement Protocol.

LEARN about popular Cryptocurrencies only on  Katoch Tubes

We're on You Tube