Decentralized Autonomous Organization behind the development of the Aave DeFi protocol has recently announced the launch of a new stablecoin GHO on the Layer 2 platform Arbitrum
This event was covered in a recent report by The Block.
The GHO stablecoin, which will serve as a native asset for the Aave protocol, is a multi-collateral token
It will be integrated with the Chainlink Cross-Chain Interoperability Protocol (CCIP), which has already established itself as a standard for cross-chain compatibility. This means that GHO will begin its deployment on Arbitrum, with plans for future expansion to other blockchain networks.
Developers emphasize that one of the key goals of this strategy is to reduce transaction costs
Fee optimization is expected to not only improve GHO liquidity but also make it more attractive to users, opening up new use cases. By gradually implementing and expanding GHO into other ecosystems, the Aave team aims to increase its accessibility and usability.
The launch of GHO nearly a year ago has opened up new horizons in the field of asset borrowing against cryptocurrency collateral
The coin is issued through community-approved intermediaries called «facilitators.» The first of these was the Aave v3 market on Ethereum, where assets are provided with a high degree of trust and transparency. Currently, the total value locked (TVL) on this platform exceeds $12.5 billion.
It is also worth noting that Aave Labs recently introduced the roadmap for the fourth version of its protocol
It is expected that this version will be based on a completely new architecture, which could lead to significant improvements in the platform’s performance and functionality.
