Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits
Aave a Decentralized Finance (DeFi) project has expressed the launch of a stablecoin called GHO on the Ethereum testnet network Goeril.
Aave published the open-source codebase on GitHub. The codebase is available on GitHub and has undergone audits by Open Zeppelin, Sigmaprime, and ABDK.
Aave welcomes programmers to test GHO before Mainnet Deployment.
Three audits conducted by Open Zeppelin, Sigmaprime, and ABDK focused on the deployment of GHO, upon its launch on the Ethereum mainnet, GHO will be similar to MakerDAO's DAI token in that it will be overcollateralized and pegged to the U.S dollar.
Aave Protocol Version 3 does not permit flash loading of the stablecoin. the community is being asked to consider adding a second facilitator.
It’s GHO time! @GHOAave is now on Ethereum’s Goerli Testnet!— Aave (@AaveAave) February 9, 2023
Aave users to create GHO in a single transaction same as flash loans, but without borrowing from a pool an Audited codebase for the Flashminter Facilitator software is available and the decision to include it will be put to a vote among the Aave community through the Aave Decentralized Autonomous Organization (DAO).
The Aave DAO will manage the control of the GHO facilitator the according to Aave team before the official GHO Mainnet launch there will be additional testing and research.
Changes are required to STKAAVE to enable the implementation of the GHO discount rate and a snapshot needs to occur for the Ethereum version 3 facilitator and flash minter facilitator "A snapshot will then occur to greenlight these as the first two facilitators for GHO"
According to Aave the company has also introduced a bug bounty and is asking key contributors to the DAO to start discussing the framework for onboarding new facilitators.
Related: Aave Votes to Deploy on Ethereum Layer-2 Solution zkSync