Decentralized finance (DeFi) protocol Aave has launched an algorithmic USD-pegged stablecoin GHO on its mainnet, with $2.19 million price of GHO minted to date.

Aave introduced the launch of its new stablecoin in a July sixteenth weblog put up, describing the brand new stablecoin GHO as a “decentralized and over-collateralized” asset. Stablecoins are Ethereum’s native forex Ether (ETH) and Aave’s native token AAVE (AAVE).

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