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What Is GHO & Why Is Aave Creating a Decentralized Stablecoin?

Intermediate
Stablecoin
Aug 18, 2022
9 min read
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The stablecoin market is currently valued at $153 billion by market capitalization, and features dozens of coins. While they operate differently, all stablecoins aim for the same goal: The promise of stability in the volatile crypto space. 

Because they were meant to be immune from market volatility, stablecoins have become popular as a means of global payments and a facilitator of DeFi lending and borrowing. 

After the spectacular crash of the algorithmically pegged TerraUSD (UST) eroded trust in the stablecoin landscape, Aave, a noncustodial market protocol, announced a new decentralized stablecoin, GHO.

Why is Aave creating the GHO stablecoin? This article examines the new project and what makes it unique.

What Is GHO?

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