{"id":123265,"date":"2023-07-16T23:02:40","date_gmt":"2023-07-16T23:02:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/aave-gho-goes-live-on-ethereum-heres-what-to-look-out-for-crypto-news\/"},"modified":"2023-07-16T23:02:42","modified_gmt":"2023-07-16T23:02:42","slug":"aave-gho-goes-live-on-ethereum-heres-what-to-look-out-for-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-gho-goes-live-on-ethereum-heres-what-to-look-out-for-crypto-news\/","title":{"rendered":"Aave: GHO goes live on Ethereum;  here&#8217;s what to look out for\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em>GHO has launched on the Ethereum mainnet.<\/em><\/li>\n<li><em>Aave has replaced MakerDAO as the DeFi protocol with the second-largest TVL.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following the ratification of a proposal to do the same, lending protocol <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/AAVE\" data-wpel-link=\"internal\">Avee [AAVE]<\/a>  finally launched its over-collateralized stablecoin GHO on the Ethereum Mainnet on 15 July. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Aave DAO has successfully launched <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GHOAave?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">@GHOAave<\/a> on the Ethereum Mainnet.  Congratulations to the Aave community on this historic moment! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Br3QGqMU8X\" data-wpel-link=\"external\">pic.twitter.com\/Br3QGqMU8X<\/a><\/p>\n<p>\u2014 Aave (@AaveAave) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AaveAave\/status\/1680216586047885312?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">July 15, 2023<\/a><\/p>\n<\/blockquote>\n<hr\/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">AAVE&#8217;s market cap in BTC<\/a> terms<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">According to the announcement <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/aave.mirror.xyz\/t7qcU668gSp9teT_SBhJb9_AVcbv8kpzvd0IpP39lBw\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">blog posts<\/span><\/a><span style=\"font-weight: 400;\">with the stablecoin made available on the Ethereum mainnet, \u201cusers can mint GHO on the Aave Protocol&#8217;s Ethereum V3 market against assets they have already supplied as collateral.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The launch of GHO came after the execution of a governance <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.aave.com\/governance\/proposal\/?proposalId=268\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">proposal<\/span><\/a><span style=\"font-weight: 400;\">  put forward by Aave&#8217;s decentralized autonomous organization on 10 July.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the blog post, the DAO is responsible for governing the GHO.  The members of this governing body will determine the stablecoin&#8217;s supply, interest rates, and minting limits.  They will also approve and oversee <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/aave-calls-on-ethereum-to-deploy-stablecoin-gho\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Facilitators<\/span><\/a><span style=\"font-weight: 400;\">  who can create GHO under specific conditions. <\/span><\/p>\n<h4><b>Aave overtakes Maker;  GHO to propel it even further<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">DefiLlama<\/span><\/a><span style=\"font-weight: 400;\">with a total value locked (TVL) of $6.124 billion, Aave has overthrown <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/mkr\" data-wpel-link=\"internal\">MakerDAO [MKR]<\/a>  as the decentralized finance (DeFi) protocol with the second largest TVL after <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/LDO\" data-wpel-link=\"internal\">lido [LDO],<\/a><\/span><\/p>\n<div id=\"attachment_328033\" style=\"width: 1358px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-328033\" class=\"wp-image-328033 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36.png\" alt=\"\" width=\"1348\" height=\"582\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36.png 1348w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36-300x130.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36-1024x442.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-16-at-08.47.36-768x332.png 768w\" sizes=\"auto, (max-width: 1348px) 100vw, 1348px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-328033\" class=\"wp-caption-text\">Source: DefiLlama<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">At the beginning of the year, Lido replaced Maker as the leading DeFi protocol.  This was due to an increased <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/eth\" data-wpel-link=\"internal\">ether [ETH]<\/a>  staking activity in expectation of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/Shanghai\" data-wpel-link=\"internal\">Ethereum&#8217;s Shanghai Upgrade<\/a>which drives traffic to the liquid staking protocol.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The situation worsened for the lending protocol when its stablecoin DAI <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/dai-stressed-makerdao-struggles-as-users-look-toward-other-stablecoins\/\" data-wpel-link=\"internal\">suffered<\/a> a depeg in March due to the unexpected collapse of Silicon Valley Bank.  This resulted in an unabated fall in DAI&#8217;s supply.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With GHO now live on Ethereum, a new crop of users is expected to try out Aave, further driving up its TVL. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Per information from DefiLlama, while Aave&#8217;s TVL climbed by 20% in the last month, Maker&#8217;s fell by 2%.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green?  Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/aave-profit-calculator\" data-wpel-link=\"internal\">AAVE Profit Calculator<\/a><\/p>\n<hr\/>\n<h4><b>Revenue to climb while network activity rebounds <\/b><\/h4>\n<p><span style=\"font-weight: 400;\">According to on-chain data provider <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tokenterminal.com\/terminal\/projects\/aave\" data-wpel-link=\"external\">Token Terminal<\/a>Aave&#8217;s daily active user count has trended downward in the last year.  Data from Token Terminal revealed a 27% drop in daily user activity during that period. <\/span><span style=\"font-weight: 400;\">As many flock to Aave to try out the latest stablecoin in the market, network activity on the lending protocol is expected to experience growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding protocol revenue, Aave&#8217;s revenue has declined by 70% in the last year.  This corresponds with a 75% decrease in transaction fees users pay for using the lending protocol.  With the launch of GHO, a positive revenue rebound might be on the horizon. <\/span><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GHO has launched on the Ethereum mainnet. Aave has replaced MakerDAO as the DeFi protocol with the second-largest TVL. Following the ratification of a proposal to do the same, lending protocol Avee [AAVE] finally launched its over-collateralized stablecoin GHO on the Ethereum Mainnet on 15 July. The Aave DAO has successfully launched @GHOAave on the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":123266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-123265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123265"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123265\/revisions"}],"predecessor-version":[{"id":123267,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123265\/revisions\/123267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/123266"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}