Lending protocol Aave’s gho (GHO) stablecoin took a step nearer to an Ethereum mainnet launch as the developer proposed two key features that would be of huge benefit to holders while keeping the token’s stability intact. Since February, Gho has been obtainable on Ethereum blockchain where it has functioned without any hassle.
In a recent governance post , developer Aave Companies recommend that V3 Ethereum Facilitator should provide lending (gho) against collateral deposits . Also, FlashMinter a variant of flash loans, or loans that are issued against zero collateral.
However,the facilitators, which can be protocols or entities, they have the ability to bring about and burn GHO tokens up to a certain limit, Which in turn enable depositors to borrow GHO against their collateral deposited in Aave V3’s Ethereum mainnet pool.
Furthermore, the FlashMinter Facilitator will enable users to borrow GHO and pay it back in a single transaction and have an initial capacity of 2 million GHO on zero fees.
During the previous year, in June Gho was first suggested as a decentralized Stablecoin, assited by of a basket cryptocurrencies chosen at the discretion of Aave users, meanwhile borrowers would keep receiving interests on their collateral.
The token is anticipated to produce additional revenue for the Aave decentralized independent organization by sending 100% of interest payments on GHO borrows to the DAO, the proposal said at the time. It will initially be on Ethereum, and is expected to be issued on other blockchains based on community demand and voting, according to the proposals.