The platform recently announced the resolution of these issues, stating that the GHO‘s minting function has been fully restored.
The trouble with the integration first came to light on August 25, when a technical problem was identified. In response, Aave temporarily halted the minting of new GHO tokens in the V3 GHO pool to rectify the issue.
To mitigate the impact on users, the platform initiated a freezing mechanism as an alternative solution on August 30. This proposal garnered support and was swiftly passed.
Furthermore, another proposal aimed at resolving technical integration issues with the V3 pool was approved during this period.
Notably, GHO, Aave’s highly anticipated stablecoin, which was launched on July 15, has seen its value hover around $0.97, slightly below its intended $1 peg.
The platform launched GHO amid a turbulent market environment, marked by an exploit and concerns over CRV liquidations, resulting in elevated stablecoin rates on the platform.
This situation has created opportunities for arbitrage traders, allowing them to mint GHO, exchange it for other stablecoins like USDC, and then deposit the acquired USDC in Aave to capture the rate differential.
In related news, Aave has expanded its collateral portfolio by officially supporting sDAI, enabling users to deposit sDAI and borrow WETH at the corresponding rate.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
