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Aave's GHO Stablecoin Expands to New Networks
#Aave #GHO #Arbitrum #stablecoin $AAVE $ARB
Aave, the leading DeFi lending protocol, has initiated the cross-chain expansion of its GHO stablecoin. On July 2, Aave deployed GHO on Arbitrum, the top Layer 2 network by total value locked (TVL). This move allows users to mint and burn GHO natively using Aave v3 on Arbitrum.
Key Benefits of Integration
Lower feesFaster transactionsEnhanced liquidity
Stani Kulechov, founder and CEO of Aave Labs, highlighted these benefits, noting that they make GHO more attractive and open up new use cases like digital payments.
Incentives and Adoption
To promote GHO adoption, the Arbitrum DAO has allocated 750,000 ARB tokens ($582,300). Aave users can mint GHO against collateral assets deposited on the Aave protocol. Currently, GHO ranks as the 21st largest stablecoin with an $89.1 million market cap, according to CoinGecko. However, the price of AAVE has declined by 3.3% over the past 24 hours, as reported by The Defiant.
Multichain Expansion Strategy
Aave's deployment on Arbitrum marks the beginning of GHO's phased cross-chain expansion. In May, the Aave community unanimously supported a cross-chain launch strategy for GHO. The proposal emphasized the need to overcome GHO's current limitation of being accessible primarily on the Ethereum mainnet.
Chainlink's CCIP Role
Aave is utilizing Chainlink’s cross-chain interoperability protocol (CCIP) to facilitate GHO’s cross-chain expansion. Each GHO deployment will be backed by reserves held on Ethereum. This strategy will unlock integration opportunities and new use cases across various networks.
Future Deployments and Evaluations
Aave v3 is already live on 12 networks, including Ethereum, Avalanche, BNB Chain, and several Layer 2 chains like Arbitrum and Optimism. GHO’s deployment on Arbitrum will undergo thorough evaluation before expanding to additional networks through community governance.
Aave's GHO Stablecoin Expands to New Networks
#Aave #GHO #Arbitrum #stablecoin $AAVE $ARB
Aave, the leading DeFi lending protocol, has initiated the cross-chain expansion of its GHO stablecoin. On July 2, Aave deployed GHO on Arbitrum, the top Layer 2 network by total value locked (TVL). This move allows users to mint and burn GHO natively using Aave v3 on Arbitrum.
Key Benefits of Integration
Lower feesFaster transactionsEnhanced liquidity
Stani Kulechov, founder and CEO of Aave Labs, highlighted these benefits, noting that they make GHO more attractive and open up new use cases like digital payments.
Incentives and Adoption
To promote GHO adoption, the Arbitrum DAO has allocated 750,000 ARB tokens ($582,300). Aave users can mint GHO against collateral assets deposited on the Aave protocol. Currently, GHO ranks as the 21st largest stablecoin with an $89.1 million market cap, according to CoinGecko. However, the price of AAVE has declined by 3.3% over the past 24 hours, as reported by The Defiant.
Multichain Expansion Strategy
Aave's deployment on Arbitrum marks the beginning of GHO's phased cross-chain expansion. In May, the Aave community unanimously supported a cross-chain launch strategy for GHO. The proposal emphasized the need to overcome GHO's current limitation of being accessible primarily on the Ethereum mainnet.
Chainlink's CCIP Role
Aave is utilizing Chainlink’s cross-chain interoperability protocol (CCIP) to facilitate GHO’s cross-chain expansion. Each GHO deployment will be backed by reserves held on Ethereum. This strategy will unlock integration opportunities and new use cases across various networks.
Future Deployments and Evaluations
Aave v3 is already live on 12 networks, including Ethereum, Avalanche, BNB Chain, and several Layer 2 chains like Arbitrum and Optimism. GHO’s deployment on Arbitrum will undergo thorough evaluation before expanding to additional networks through community governance.
📈 $AAVE GHO supply is up $50M since the start of the Merit incentive program
The "Merit" system employs a booster-based model to reward specific user actions with points, dictating the weekly StkAAVE and #GHO distribution. The system incorporates merit boosters and diluters to adjust user rewards based on their alignment with Aave's objectives.
The initiative starts with a budget of 2.1M$ in #wETH and 2.9M$ in GHO, totaling 5M$ for a 90-day duration, focusing on direct Aave protocol engagement and promoting diversified staking strategies.
The "Merit" system employs a booster-based model to reward specific user actions with points, dictating the weekly StkAAVE and #GHO distribution. The system incorporates merit boosters and diluters to adjust user rewards based on their alignment with Aave's objectives.
The initiative starts with a budget of 2.1M$ in #wETH and 2.9M$ in GHO, totaling 5M$ for a 90-day duration, focusing on direct Aave protocol engagement and promoting diversified staking strategies.
🔒 AAVE CEO addresses GHO de-pegging concern! ⚖️ Stani Kulechoff discusses the Peg Stability Module (PSM). 📈 PSM aims to safeguard GHO's peg stability and recovery. 💱 GHO trading at around $0.97, following a brief drop to $0.95. Taking measures to maintain stability and peg integrity in the ecosystem. #AAVE #GHO #PegStabilityModule
📢 Exciting news!
Aave's (AAVE) groundbreaking proposal to launch a native #GHO stablecoin has been officially approved!
✅ Within just one day, this innovative addition will be implemented, offering a new era of stability and efficiency to the Aave ecosystem.
Get ready to experience the power of Aave's native stablecoin!
#Aave #Stablecoin $AAVE $BTC $ETH
#Binance #GOATMoments
Aave's (AAVE) groundbreaking proposal to launch a native #GHO stablecoin has been officially approved!
✅ Within just one day, this innovative addition will be implemented, offering a new era of stability and efficiency to the Aave ecosystem.
Get ready to experience the power of Aave's native stablecoin!
#Aave #Stablecoin $AAVE $BTC $ETH
#Binance #GOATMoments
【 Ｔｏｐ ＤｅＦｉ Ｐｒｏｔｏｃｏｌ Ａａｖｅ Ｌａｕｎｃｈｅｓ Ｎａｔｉｖｅ Ｓｔａｂｌｅｃｏｉｎ ($ＧＨＯ) 】
In a breakthrough for decentralized finance (DeFi), Aave has recently unveiled its ARFC (Aave Request for Comments) proposal on the governance forum. The proposal introduces GHO, a native stablecoin set to launch on the Ethereum mainnet. This user-centric initiative enables individuals to mint GHO tokens using collateral, unlocking a new level of financial flexibility
#aave #aavev2 #GHO #GHST #AAVE
In a breakthrough for decentralized finance (DeFi), Aave has recently unveiled its ARFC (Aave Request for Comments) proposal on the governance forum. The proposal introduces GHO, a native stablecoin set to launch on the Ethereum mainnet. This user-centric initiative enables individuals to mint GHO tokens using collateral, unlocking a new level of financial flexibility
#aave #aavev2 #GHO #GHST #AAVE
- Aave's native stablecoin, GHO, has seen substantial growth since its launch on #Ethereum mainnet on July 15th.
- The circulation of #GHO has exceeded 20 million, specifically reaching 20,029,456 according to Etherscan data cited by Odaily Planet Daily News.
- This achievement follows the milestone of GHO's circulation reaching 10 million on August 2nd, indicating a rapid expansion for the stablecoin in just a few months.
- CertiK Skynet has issued an alert regarding a significant liquidity removal from a counterfeit zkSync token on the Binance Smart Chain (BSC).
- The token, identified by the address 0x95dD3BD912c4c7Bac01f9E8829Dc7aB360BbfFb4, had around $106.4K worth of #BSC USD taken out of its liquidity pool by the creator.
- This token is suspected to be associated with a honeypot scam. Investors and traders are advised to exercise caution and stay vigilant against fraudulent activities in the cryptocurrency market.
- It's crucial to thoroughly research and conduct due diligence before getting involved with any new #tokens or projects to avoid falling victim to scams.
- According to L2BEAT data from Odaily Planet Daily News, the total value locked (TVL) in Ethereum Layer 2 (L2) has reached $10.54 billion, but it experienced a slight decrease of 0.49% compared to the previous day.
- On the 7th, the Base network within Ethereum Layer 2 saw a significant 82.81% surge in locked positions.
- Among the top five #platforms with locked positions in Ethereum Layer 2, Arbitrum One holds the highest amount at $5.93 billion, showing a slight 0.22% drop on the 7th.
- OP Mainnet follows with $2.83 billion (down 4.27% on the 7th), zkSync Era with $429 million (down 7.47% on the 7th), and dYdX with $330 million (a decrease of 1.96% on the 7th).
- The Base network is the fifth contender with $189 million, demonstrating a remarkable increase from the previous day.
- The circulation of #GHO has exceeded 20 million, specifically reaching 20,029,456 according to Etherscan data cited by Odaily Planet Daily News.
- This achievement follows the milestone of GHO's circulation reaching 10 million on August 2nd, indicating a rapid expansion for the stablecoin in just a few months.
- CertiK Skynet has issued an alert regarding a significant liquidity removal from a counterfeit zkSync token on the Binance Smart Chain (BSC).
- The token, identified by the address 0x95dD3BD912c4c7Bac01f9E8829Dc7aB360BbfFb4, had around $106.4K worth of #BSC USD taken out of its liquidity pool by the creator.
- This token is suspected to be associated with a honeypot scam. Investors and traders are advised to exercise caution and stay vigilant against fraudulent activities in the cryptocurrency market.
- It's crucial to thoroughly research and conduct due diligence before getting involved with any new #tokens or projects to avoid falling victim to scams.
- According to L2BEAT data from Odaily Planet Daily News, the total value locked (TVL) in Ethereum Layer 2 (L2) has reached $10.54 billion, but it experienced a slight decrease of 0.49% compared to the previous day.
- On the 7th, the Base network within Ethereum Layer 2 saw a significant 82.81% surge in locked positions.
- Among the top five #platforms with locked positions in Ethereum Layer 2, Arbitrum One holds the highest amount at $5.93 billion, showing a slight 0.22% drop on the 7th.
- OP Mainnet follows with $2.83 billion (down 4.27% on the 7th), zkSync Era with $429 million (down 7.47% on the 7th), and dYdX with $330 million (a decrease of 1.96% on the 7th).
- The Base network is the fifth contender with $189 million, demonstrating a remarkable increase from the previous day.
📊🪙 Etherscan data reveals that AAVE's self-developed multicollateral-based stablecoin, GHO, has surpassed 20 million in issuance. Currently, the circulating supply stands at 2,048. AAVE's efforts in stablecoin development mark a significant milestone in the ever-evolving landscape of cryptocurrencies. 🚀💼 #AAVE #GHO #Stablecoin #CryptocurrencyUpdates
- IntoTheBlock introduces #Aave #GHO Risk Analytics, a risk assessment tool for Aave #protocol
- Purpose: Offer users insights into risks associated with Aave #assets and markets.
- Metrics: Combines asset risk, #liquidity risk, and counterparty risk to generate risk scores.
- Aims to aid users in making informed investment choices.
- Represents advancement in DeFi risk assessment, enhancing security and investor understanding.
$AAVE $USDC $BUSD
- Purpose: Offer users insights into risks associated with Aave #assets and markets.
- Metrics: Combines asset risk, #liquidity risk, and counterparty risk to generate risk scores.
- Aims to aid users in making informed investment choices.
- Represents advancement in DeFi risk assessment, enhancing security and investor understanding.
$AAVE $USDC $BUSD
The Aave community is conducting a temperature check vote to determine the first launch network for the GHO cross-chain Rollout plan. The options include Avalanche, Arbitrum, Optimism, Scroll, and Metis, with Avalanche currently leading with 49.77% support. The plan aims to integrate the GHO stablecoin into the network cooperation of its ecosystem, with a phased launch approach to ensure secure deployment by DAOs in a controlled manner.
#AaveProtocol #aave #GHO #bitcoinhalving #Megadrop
#AaveProtocol #aave #GHO #bitcoinhalving #Megadrop
Aave has released a proposal for the launch of the native stablecoin GHO on the Ethereum mainnet. Users will be able to use collateral to mint GHO, while the DAO treasury will receive GHO loan interest as additional income.#GHO #aave #BinanceTournament #googleai
