Aave Dao Launches Gho Stablecoin on Arbitrum Network

Aave DAO has launched its GHO stablecoin on the Arbitrum network as part of its cross-chain expansion strategy.

The key points are:

• Aave DAO deployed GHO on Arbitrum, the top Layer 2 network by total value locked (TVL), allowing users to natively mint and burn GHO using the Aave v3 deployment on Arbitrum.

• This marks the first deployment of GHO's cross-chain expansion, which aims to increase accessibility, lower transaction costs, enhance the user experience, and improve liquidity for the stablecoin.

• Aave is leveraging Chainlink's Cross-Chain Interoperability Protocol (CCIP) to facilitate GHO's cross-chain expansion, with each GHO deployment backed by reserves held on Ethereum.

• The Arbitrum DAO has allocated 750,000 ARB tokens to incentivize GHO adoption on the network, and Aave's Liquidity Committee will use these incentives to enhance GHO's liquidity.

• Aave plans to progressively expand GHO to additional networks after rigorously evaluating the Arbitrum deployment, with the goal of unlocking new use cases for the stablecoin, including digital payments.

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