The fully collateralized stablecoin is native to the Aave ecosystem and will be initially available on the Ethereum network.
An Aave community proposal to launch a native crypto-based stablecoin, GHO, was passed over the weekend with 99% votes in favor of the proposal, Aave’s governance page shows.
The proposal was intended to improve on the features of Aave’s lending platform, as previously reported. Some 501,000 aave (AAVE) tokens were used to cast votes in support, with just 12 tokens in opposition. Address 0x5B3bFfC0bcF8D4cAEC873fDcF719F60725767c98 exerted the largest weight on votes, putting up 183,000 AAVE in support of the proposal.