The decentralized autonomous organization behind the development of the Aave DeFi protocol has released the GHO stablecoin on the L2 network of the Arbitrum solution. This is reported by The Block.
"A multi-header stablecoin native to the Aave protocol will use the Chainlink Cross-Chain Interoperability Protocol (CCIP), which is an industry standard. Continuing to be gradually implemented, starting with Arbitrum, over time it will spread to other networks," the developers noted.According to them, the "cross-chain expansion strategy" is also aimed at reducing transaction fees. This approach is intended to make GHO more liquid and attractive to users, "opening up new use cases."
The launch of the decentralized stablecoin took place almost a year ago, opening up the opportunity to borrow an asset secured by cryptocurrencies.
The coin is issued by community—approved intermediaries - "facilitators". The first of them was the Aave v3 market on Ethereum.
At the time of writing, the TVL of the leading landing platform exceeds $12.5 billion.
Earlier, Aave Labs presented a roadmap for the fourth version of the protocol. The latter is supposed to be built on a "completely new architecture".
https://forklog.com/cryptorium/chto-takoe-aave