The initiation of GHO stablecoin would build renting on the Aave Protocol furthermore, supply more optionality for stablecoin users and produce more earnings for the Aave DAO by sending 100% of interest payments on GHO borrows to the DAO.
GHO Stablecoin Intro
Stablecoins have reached a central position in the space in the last years, now the market podium is at an approximate $150B capitalization 10. Stablecoins provide a rapid, productive, and stable way to transfer worth on the blockchain. Decentralized stablecoins add clearness and censorship resistance to this list of benefits – an integral part of web3.
The usage of stablecoins will only continue to grow as cryptoassets become further integrated with a user base that is less crypto-native. Decentralized stablecoins provide censorship-resistant fiat-denominated currency on the blockchain.
GHO, a decentralized multi-collateral stablecoin that is fully backed and native to the Aave Protocol. GHO will be fabricated by users (or borrowers) and will stands on the Ethereum blockchain.
Although we see how the market is not going through its best moment at the moment, the crypto market continues to grow and evolve, although many said that bitcoin is going to 0. The GHO stablecoin if approved in the DAO is sure to bring a lot of value in the long run.