Aave Introduces New Stablecoin on Ethereum Goerli Testnet
Web3 protocol company, Aave, has announced the launch of a new dollar-pegged stablecoin “GHO” (pronounced Go) on Ethereum’s Goerli Testnet. The Aave DAO will oversee the supply of GHO, determine the interest rate and manage risk parameters, with repaid interest being directed towards the DAO treasury instead of asset suppliers.
Aave CEO Comments on the Future of Stablecoins
Stani Kulechov, Founder and CEO of The Aave Companies, expressed his belief that stablecoins will play a significant role in the future of the crypto economy and will see increased usage.
Aave GHO Bug Bounty Program
To ensure the security of GHO, Aave has launched the GHO Bug Bounty program, rewarding community members who report any security vulnerabilities found in the GHO repository.