Aave Deploys Its GHO Stablecoin On Ethereum’s Goerli Testnet

Twitter icon  •  Published 1年前  •  Hassan Maishera

The Aave team announced via Twitter on Thursday that its GHO stablecoin is now live on Ethereum’s testnet.

The Aave team announced via Twitter on Thursday that its GHO stablecoin is now live on Ethereum’s testnet. The deployment means that adopters and developers of the GHO stablecoin can access its codebase and test how it works before it is released to the general public on Ethereum. GHO is a decentralized multi-collateral stablecoin, transparent and native to the Aave Protocol.

Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $78.1 per token, down by 5% in the last 24 hours. 

Ethereum is a decentralized network (often referred to as “the world computer”), created by Vitalik Buterin in 2013. Its network consists of an open-source, globally decentralized computing infrastructure, which executes programs called smart contracts. This network is fueled by a cryptocurrency named ether (ETH). ETH is down by more than 4% in the last 24 hours and is currently trading at $1,546 per coin. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.