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The asset, which has been valued at less than $1.00 for nearly all of its life, gained ground this week and rallied to $0.985 for the first time since August. Its volatile gains aren't doing anything to fix GHO's reputation as a not-so-stablecoin, but they do set the token close
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Users and traders can no longer create new GHO stablecoins by minting, but they still can be purchased on secondary markets, says the top Aave contributor. Marc Zeller, founder of the Aavechan initiative, said demand for GHO has driven the token to its minting cap, meaning that users would be unable
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Decentralized finance (DeFi) protocol Aave has launched its algorithmic United States-dollar pegged stablecoin GHO on the Ethereum mainnet, with $2.19 million worth of GHO minted so far.Aave announced the launch of the new stablecoin in a July 16 blog post, describing the new stablecoin GHO as a “decentralized, over-collateralized” asset.
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GHO has been in the works for over a year and was issued on a testnet earlier this year. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied AAVE, the native governance token of Aave, a decentralized, multichain, and non-custodial lending and borrowing protocol, is up 27% as of June 25. The explosion of AAVE prices follow a lull and under-performance in the second
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Aave Companies proposed two key features for the decentralized stablecoin in a governance post on Tuesday. Original Source
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Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK. Aave Invites Programmers to Test GHO Before Mainnet Deployment On
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Prior to the testnet release, the GHO deployment was audited by blockchain code auditing firms Open Zeppelin, SigmaPrime, ABDK, and it is currently under audit by Certora, the press release said. The protocol also started a Bug Bounty program which encourages community members to discover and report security vulnerabilities for
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Last year, as many as 6,200 wallets were active in February and transactions involving Aave touched a record 1.1 million daily figure in May. They slumped to as few as 96,000 transactions a day earlier this year amid a market-wide price decline, IntoTheBlock data shows. Original Source
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The token would work similarly to existing algorithmic stablecoins, which mint exactly $1 worth of tokens when users provide $1 worth of cryptocurrency. In GHO’s case, a user must supply collateral (at a specific collateral ratio) to be able to mint GHO. If a user repays a borrow position (or
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