Posted 11/28/2023, 10:42:00 PM
Aave's GHO Stablecoin Rallies Towards $1 Peg Under New Leadership's Liquidity Incentives
- Aave's GHO stablecoin gained ground this week, rallying to $0.985, close to its $1 peg for the first time since August
- This matches the target set by "benevolent dictator" TokenBrice, who took over Aave's liquidity committee to restore the peg
- TokenBrice focused on incentivizing buying support for GHO on Maverick protocol using "liquidity shaping"
- This strategy has worked to bring GHO closer to $1, though conflicts of interest exist as TokenBrice advises Maverick
- Further steps are needed to increase GHO's circulation and liquidity to sustain the $1 peg over time