Aave’s New Stablecoin Is GHO for Launch on ETH Testnet

According to the latest reports, the open-sourced decentralized finance liquidity protocol Aave is deploying its native stablecoin GHO on Ethereum’s Goerli testnet. The online publication Blockwiorks notes the fact that Aave’s native token (AAVE) spiked by about 10% on the news, before retreating 5%, to change hands around $86 as of Thursday at 11:30 am ET.

The online publication notes the fact that the protocol has invited the wider Aave community and prospective integrators to start testing GHO and begin providing feedback on GitHub or an online forum.

The concept was first introduced by Aave Companies in July 2022 after it saw an opportunity for the Aave protocol to introduce a decentralized multi-collateral stablecoin into the market.

It’s GHO time! @GHOAave is now on Ethereum’s Goerli Testnet!

👻 https://t.co/cM58b6qSBa pic.twitter.com/xueGERoqnw

— Aave (@AaveAave) February 9, 2023

Check out the latest tweet below as well:

The GHO code is public and available on GitHub 👩🏻‍💻: https://t.co/vgcwScLI94

Code audits were lead by our security partners 🔐: @OpenZeppelin, @sigp_io and @ABDKconsulting.

— Aave (@AaveAave) February 9, 2023

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