DeFi

Aave’s Stablecoin GHO Has First Audit Completed

Aave's Stablecoin GHO Has First Audit Completed

Aave announced the creation of their decentralized overcollateralized stablecoin GHO on October 14.

Aave's Stablecoin GHO Has First Audit Completed 2

Aave released an update on the development of its stablecoin GHO, saying that after the Aave DAO voted in favor of deploying a new Aave V3 on Ethereum, it plans to initially deploy the stablecoin on Ethereum’s Aave V3 instead of V2. The proposed approach will be discussed in the community.

Meanwhile, Open Zeppelin has completed the first audit of GHO on the source code for deployment on the Aave V2 on Ethereum and did not report any major findings.

Furthermore, Aave will grant Facilitator the ability to cast and destroy GHO without the need for trust, and a guiding framework for applying for this authority will be given in the future. In addition, Aave said its stablecoin testnet deployment would be made within the coming weeks.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.