The community of decentralized finance protocol Aave has just approved the launch of the decentralized stablecoin GHO, which is pegged to the USD.
According to the project developers:
"The community has given the greenlight for GHO. The next step is voting on the genesis parameters of GHO, look out for a proposal next week on the governance forum."
During the three-day vote, members of the decentralized Aave DAO organization contributed more than 500,000 AAVE tokens to the Snapshot platform. The proposal has received almost unanimous support.
The protocol team presented the project to GHO in early July. The instrument is an overcollateralized stablecoin, the same model used in MakerDAO's DAI.
The collateral will be a "diversified pool of crypto assets" backed by Aave. At the same time, users will continue to receive interest on the tokens locked as collateral.
