Aave DAO launches its stablecoin GHO on Arbitrum

Aave DAO has announced the launch of its GHO stablecoin on the Arbitrum blockchain, which uses the Chainlink Cross-Chain Interoperability Protocol (CCIP) that employs locking/burning and releasing/minting bridge mechanisms. This release is part of the GHO cross-chain strategy aimed at making stablecoins more accessible. Aave DAO has allocated 750,000 ARB tokens from the Arbitrum Long-Term Incentive Pilot Program (LIPP) to incentivize GHO liquidity on Arbitrum.