{"id":168332,"date":"2024-07-02T18:10:48","date_gmt":"2024-07-02T18:10:48","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=168332"},"modified":"2024-07-02T18:10:52","modified_gmt":"2024-07-02T18:10:52","slug":"aave-expands-gho-stablecoin-to-arbitrum-for-enhanced-liquidity-and-use-cases","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/aave-expands-gho-stablecoin-to-arbitrum-for-enhanced-liquidity-and-use-cases\/","title":{"rendered":"Aave Expands GHO Stablecoin to Arbitrum for Enhanced Liquidity and Use Cases"},"content":{"rendered":"
TL;DR<\/p>\n
Aave<\/strong><\/a>, one of the leading DeFi lending protocols by total value locked (TVL), has launched<\/a> its GHO stablecoin on the Arbitrum network<\/strong>, thus beginning its planned multi-chain expansion. Aave users on Arbitrum will be able to mint and burn GHO natively<\/strong> using the v3 protocol version.<\/p>\n The integration with Arbitrum has the potential to reduce fees, accelerate transactions, and improve GHO liquidity.<\/strong> The stablecoin is backed by multiple collaterals within the protocol. It currently has a market capitalization of $89.1 million and ranks 21st i<\/strong>n size among stablecoins, according to CoinGecko.<\/p>\n The deployment on Arbitrum is the first step in GHO’s multi-chain expansion strategy, unanimously approved by the Aave community<\/strong>. The goal is to overcome current limitations<\/strong> of GHO, mainly confined to the Ethereum mainnet and secondary markets<\/strong>, thereby expanding its utility and reach in the DeFi sector.<\/p>\n Aave also plans to utilize Chainlink’s cross-chain interoperability protocol (CCIP) to facilitate the secure expansion of GHO across different blockchains<\/strong>. Each GHO implementation will be backed by reserves in Ethereum, ensuring the security and stability of the asset across all supported chains.<\/p>\n<\/p>\n
Aave DAO Promotes GHO Adoption<\/h2>\n