Aave dao approved crypto -assisted stable coin GHO
Aave dao approved crypto -assisted stable coin GHO
- A proposal for implementing the crypto-assured stable coin from AAVE was assumed by the DAO majority
- users will soon be allowed to shape the stablecoin against their collateral provided while they continue to earn interest
The decentralized financial credit protocol AAVE will shortly bring in a new crypto -assured stable coin into its ecosystem after a unanimous vote on its DAO has been completed on Sunday.
A proposal that Aave Companies submitted to the voters of the decentralized autonomous organization (DAO) on Thursday asked the users to weigh whether their stablecoin GHO bound to the US dollar should be introduced as part of the protocol.
approximately 501,000 AAVE or 99.9 %, compared to 17 abstentions and 12 votes against, according to the results of A The step means that users and borrower GHO can shape their security collateral while earning interest on the underlying, similar to other borrowed transactions.
In contrast to algorithmic stable coins, the designs of which were questioned after the collapse of Terra, crypto -supported stable coins are assets that are secured by a basket of other cryptos.
But like your algorithmic cousin, GHO is created by users if they provide the necessary collateral. If a user repays a loan position, the GHO protocol that regulates the StableCoin, the GHO of this user, according to a First suggestion July 8th.
"The loan interest for GHOs are determined by the AAVEDAO, with a stable interest rate that can be adapted depending on the market conditions," said Aave Companies. "This design retains the flexibility of the rental interest model of the AAVE protocol, and it will be possible in the future to implement any interest strategy that the AAVE community considers correct."
AAVE was founded in 2017 after an ICO increase in the amount of $ 16 million and is the third largest protocol of the sector after total value with around $ 6.58 billion, which, according to data providers, are bound into smart contracts defi-lama .
The native token of the protocol (AAVE) has increased by more than 70 % in the course of the month and changes the owner for about $ 99.40, which corresponds to an increase of more than 4 % that day.
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The contribution Aave dao approved Crypto-Backed StableCoin GHO is not a financial advice.
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