Aave, a reputed DeFi protocol, is now introducing a new algorithmic stablecoin called GHO.<\/p>\n
The proposal to introduce GHO was made on 7 July 2022, after which it was sent to Aave DAO\u2014the governance body concerned\u2014for approval. Aave DAO finally gave the plan a unanimous nod on 31 July 2022. As part of the three-day voting process, 5,01,000 AAVE tokens were received in favor of the proposal.<\/p>\n
Now that the vote has passed, the next step of creating the GHO stablecoin will involve the implementation of the AIP (Aave Improvement Protocol), a token creation standard. The Aave DAO will be in charge of administering the stablecoin upon release.<\/p>\n
What does the launch of GHO mean?<\/strong><\/p>\n At the launch, Aave\u2019s founder Stani Kulechov said that the aim is to drive DeFi adoption on Ethereum\u2019s Layer-2 solutions.<\/p>\n The GHO stablecoins will be yield generating, can be used to solve payment issues, and will be deployed as collateral for on-ground and online assets.<\/p>\n GHO is expected to function as an overcollateralized stablecoin. That means the crypto to GHO ratio will not be 1:1. But the exact collateral economics is yet to be released.<\/p>\n With the upcoming stablecoin, Aave will soon join the elite list of stablecoin issuers, including MakerDAO.<\/p>\n","protected":false},"excerpt":{"rendered":" Aave, a reputed DeFi protocol, is now introducing a new algorithmic stablecoin called GHO. The proposal to introduce GHO was made on 7 July 2022, after which it was sent to Aave DAO\u2014the governance body concerned\u2014for approval. Aave DAO finally gave the plan a unanimous nod on 31 July 2022. As part of the three-day […]<\/p>\n","protected":false},"author":76,"featured_media":21422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[460,6530],"tags":[6467,6536],"class_list":["post-21418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news-2","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-07-22T13:28:55+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Praniket Nayka\",\"description\":\"\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/praniket\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4b22173b861c31fe922bbaf46c336561?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"Beginner","post_author":false,"guest_author":false,"hide_toc":true,"key_takeways":false,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/76"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=21418"}],"version-history":[{"count":1,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21418\/revisions"}],"predecessor-version":[{"id":21424,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/21418\/revisions\/21424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/21422"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=21418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=21418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=21418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}