AAVE, one of the largest DeFi lending platforms, will vote to launch a new stablecoin.
In the proposal submitted by AAVE Companies, which has made significant contributions to AAVE, it was proposed that the decentralized stablecoin GHO be launched as an ERC-20 token on the Ethereum mainnet.
If the offer is accepted, GHO can be printed in AAVE against collateral.
AAVE Companies said that if the proposal is approved, stablecoin competition in AAVE will increase, which will bring additional income for the DAO.
“100% of interest payments on GHO borrowings will go to the DOA treasury, which will provide additional income to the AAVE DAO.”
The interest rate of the GHO will also be determined by the AAVE DAO.
Voting will begin today and will continue until 14 July.
After the news, there was a 2% increase in AAVE.