Aave Intends to Launch a Competing product to MakerDAO's DAI Stablecoin

Aave has recommended a governance system for the creation of a decentralised dollar-pegged new cryptocurrency on the Aave Protocol.

If the community approves, GHO will be made available to borrowers who offer protection and interest earned again for Aave DAO. 

 Stablecoins have received considerable attention in previous months at the end of Terra's UST implosion.

1. But GHO is more comparable to MakerDAO's DAI.

Mostly on Aave Governing forum on Thursday, 

the dominant DeFi protocol proposed the launching of a decentralised, dollar-pegged stablecoin called GHO