AAVE, a popular DeFi lending protocol, announced that their new native token GHO is now live on Ethereum’s Goerli testnet. The coin will act as a stablecoin and is meant to allow users on the AAVE protocol to mint the coin each time they supply the protocol with additional funds, allowing them to utilize DeFi in new ways. 

The coin was conceived following a sleuth of failed stablecoins in 2022 that caused many major markets to collapse in the middle of last year. Proceeds from the coin will go to AAVE’s DAO treasury where it can be used to create new developments in the future.