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Aave Launches Stablecoin GHO Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins

Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the announced Ethereum testnet network Gorli. The code base is available on Github and has been audited by Open Zeppelin, Sigmaprime and ABDK.

Aave invites programmers to test GHO before mainnet deployment

On Thursday, Aave Companies announced the launch of its native stablecoin GHO on the Ethereum Görli testnet. The company also published the open-source code base on Github. Aave developers invite programmers and potential integrators to start testing GHO as it prepares for deployment on the Ethereum mainnet.

Three audits conducted by Open Zeppelin, Sigmaprime and ABDK focused on the use of GHO. Upon its launch on the Ethereum mainnet, GHO will dem DAI-Makerdao token will be similar in that it will be over-collateralized and pegged to the US dollar. Aave version 3 (V3) does not allow flashloaning of the stablecoin. The community is asked to add a second moderator called “Flashminting” at launch to address this issue.

Flashminting will allow Aave users to create GHO in a single transaction, similar to flashloans but without pooled loans. A verified codebase for the Flashminter Facilitator software is available, and the decision to include it is made in the Aave community by the Aave Decentralized Autonomous Organization (DAO) put to the vote. The Aave DAO takes control of the GHO facilitator. The team says there will be additional testing and research ahead of the official launch of the GHO mainnet.

Modifications to STKAAVE are required to enable the implementation of GHO’s discount rate, and a snapshot needs to be taken for the Ethereum V3 facilitator and Flashminter facilitator. “A snapshot is then taken to share with GHO as the first two presenters,” says Aave. The company has also introduced a bounty for bugs and is asking key contributors to the DAO to start discussing the framework for onboarding new moderators.

What do you think of Aave’s latest move with the launch of GHO on the Ethereum Görli testnet? Let us know what you think about this topic in the comment section below.

Aave Launches Stablecoin GHO Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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