DeFi engineers take over Aave to drive the Aave stablecoin GHO back to its peg
ChainCatcher news, according to CoinDesk, Aave's stablecoin GHO price once broke through $0.988, currently reported at $0.982, reaching a new high since September. The price of this stablecoin has been below $1 since its launch in July, but has seen an increase this week.
DeFi engineer TokenBrice took over the liquidity committee of Aave this month, with the task of restoring GHO's peg to the dollar. TokenBrice's strategy focuses on incentivizing support for GHO purchases in a very targeted manner.
TokenBrice stated, "We are not just paying for liquidity and incentives; we are also paying for a specific liquidity that favors buyers, which helps us create price support for GHO's buying pressure and gradually push it up."
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