Aave Companies has suggested launching the decentralized stablecoin GHO as an ERC-20 token on the Ethereum mainnet through Facilitators, which would allow users of Aave version 3 to mint GHO against their collateral. The proposal aims to make stablecoin borrowing on Aave more competitive and generate additional revenue for the DAO by providing 100% of the interest payments made on GHO borrows to the DAO treasury.

The Aave DAO will have the ability to adjust GHO's interest rate through decentralized governance. The proposal is currently awaiting voting until July 14, following extensive community discussions and months of testing on Ethereum's Goerli testnet. Aave Companies is also considering a multi-chain strategy following the proposed GHO launch on Ethereum.