Aave, the largest lending platform in decentralized finance, is considering a proposal to create sGHO, a low-risk savings product built on its GHO stablecoin. Aimed at helping GHO grow from a $200 million market capitalization to $300 million, sGHO would provide yield based on an Aave Savings Rate fed by revenue generated by the Aave protocol, according to an Aave governance proposal. The move comes as other stablecoin protocols are issuing savings-based ERC20 tokens like sUSDS by Sky, formerly known as MakerDAO. This is the token the proposal considers closest to sGHO. “For sGHO to compete, given its relative size, a premium would be required to attract meaningful amounts of capital,” the proposal notes. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io