News/Aave Community Proposes to Introduce Collateral-backed Stablecoin $GHO

Aave Community Proposes to Introduce Collateral-backed Stablecoin $GHO

Jul 07,2022,23:31
The Aave community has released a Request for Comments (ARC) proposal to introduce a native decentralized, collateral-backed stablecoin, $GHO, pegged to the U.S. dollar on Ethereum mainnet. Users will be able to generate $GHO after supplying collateral, and then burn $GHO when reclaiming collateral. borrowers will continue to earn interest on their underlying collateral. All decisions related to $GHO will be in the hands of Aave Governance. 100% of interest payments on $GHO borrows are sent to the DAO, generating additional revenue for the Aave DAO.
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