Aave's Stablecoin $GHO Live on Ethereum Mainnet

Aave announced that its native stablecoin $GHO is live on the Ethereum mainnet. Users can mint $GHO against collateral on Aave V3 Ethereum.

$GHO is an overcollateralized stablecoin fully governed by the Aave DAO. When borrowing $GHO, users can still earn yields from their collateral to reduce the borrowing cost.

The architecture of $GHO introduces a role called Facilitator to mint the stablecoin. The two current Facilitators are Aave V3 Ethereum and Flashminting. The Aave V3 Ethereum Facilitator would allow depositors to borrow $GHO against their collateral which is deposited in the V3 Ethereum Mainnet Pool. The FlashMinting Facilitator would let users FlashMint (similar to FlashLoan) $GHO and repay in a single transaction, instead of borrowing assets from a pool.