Aave Protocol launches stablecoin GHO on Ethereum mainnet, $2M minted By Cointelegraph

Decentralized finance (DeFi) protocol Aave has launched its algorithmic United States-dollar pegged stablecoin GHO on the 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. The stablecoin is backed by a “multitude” of digital assets including Ethereum’s native currency Ether (ETH) and Aave’s native token AAVE (AAVE).