Daily Crypto NewsEDITION #542, 08 July 2022

Everyone needs more stablecoins

Hey Moni Maker🎹

Today, in 1889, the first issue of The Wall Street Journal was published. Let's not dwell on the media itself, but rather fantasise a bit, ok? After all, someday, descendants will write similar digest leads and stories about, for example, the first post at CoinDesk. And then, perhaps, in Moni Talks :)... Anyway, we are writing a story. And we all write it together.

Let’s go! 

AAVE Protocol is such an open-sourse and non-custodial liquidity protocol. Well, maybe you didn't know. And lo and behold, yes, the guys have announced that they want to launch their own stablecoin. Uh... 

It's called GHO. What's the point: 

- It's gonna be kind of like a DAI counterpart. That is, a decentralized USD-pegged stablecoin with redundant collateral

- AAVE wants to introduce the concept of facilitators. That is, an organisation or protocol can act as a facilitator. The facilitator has the ability to generate and burn GHOs. If this proposal is approved, any facilitator would have to be approved by Aave Governance. In short, it will be managed and generated by the community

- The owners of stkAAVE will be able to mint GHOs cheaper. That is, they will pay a lower interest rate on the GHOs they borrow. As if, there is an incentive to secure the Aave protocol, since AAVE is embedded (stkAAVE) in the security module of the protocol

 Very interesting and exciting! We need more fine stablecoins, not these sorts of you know what we mean. Read more in the article

Anyway, you're certainly an experienced comrade and you don't fall for scams. But you should always remind yourself and others that scams are tricky and evolve over time. 

There are new, that is, well forgotten old, scam schemes going around on YouTube now. Which, by the way, steal dough from cold wallets too. So we advise you to read our article on the website  

Fear, uncertainty and doubt (FUD) — is the spread of deliberately false, or simply negative news and facts, in order to tarnish the reputation of the project.

And more you can find in our Glossary!

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