Demex Daily #189: Aave Launches GHO Stablecoin on Arbitrum with Chainlink Integration

What’s Interesting Today:

Aave's GHO stablecoin is now live on the Arbitrum network, following a decision by the Aave DAO, which manages changes to the lending protocol. The deployment on Arbitrum, an Ethereum layer-2 network, leverages low transaction costs and increased throughput, and utilizes Chainlink's CCIP interoperability protocol for multi-chain functionality. This allows the GHO stablecoin to be moved between the Ethereum network and others using a burn-and-mint or lock-and-release mechanism. The partnership between Chainlink and Arbitrum, which began in 2020, has grown to support cross-chain dApp development, with Chainlink's CCIP seeing increased use and generating significant network fees in 2024.

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ZKsync has unveiled its "Elastic Chain" concept, a cohesive network of interconnected Layer 2 rollups, following its recent 3.0 update. This development transforms ZKsync from a single Ethereum Layer 2 into a multi-chain environment utilizing its ZK Stack technology, which aims to boost interoperability and minimize liquidity fragmentation. The Elastic Chain intends to merge autonomous chains at the protocol level, enhancing capital efficiency and user experience by facilitating smooth asset movements across chains. This ecosystem also includes advanced features like account abstraction, which simplifies user onboarding by eliminating the need for traditional seed phrases. This announcement came after a notable airdrop, which was followed by a decline in the market valuation of the ZK token.