TL;DR
- Lens Chain will adopt GHO, Aave Labs’ stablecoin, as its native gas token. Aiming for stable and predictable transaction fees.
- GHO is a decentralized stablecoin pegged to the dollar. Its designed to reduce volatility and offer constant costs in transactions within Lens Chain.
- The integration of GHO with ZKsync and Avail DA optimizes transaction efficiency and security. Setting a new standard for SocialFi applications.
Lens Chain, a Validium-type blockchain focused on decentralized social applications, has announced its decision to adopt GHO, the stablecoin developed by Aave Labs, as its native gas token. This integration is crucial for the network, which aims to provide stable, predictable, and cost-effective transaction fees for users and developers.
GHO is a decentralized and overcollateralized stablecoin pegged to the value of the US dollar, ensuring its stability. Implementing GHO as a gas token seeks to avoid the volatility commonly associated with other cryptocurrencies, providing a constant cost structure for transactions on Lens Chain. This approach offers users a more reliable payment experience, especially in an ecosystem that demands fast and low-cost transactions.
Lens Chain will run on @GHO
The first L2 with a stablecoin gas token. pic.twitter.com/8gFOeMwx3D
— Lens Chain (@LC) February 12, 2025
The decision to use GHO also responds to the need to establish a transparent and resilient financial system. In addition to reducing exposure to volatility. This integration allows for a more predictable and accessible model for the widespread use of blockchain.
How the GHO Integration Will Work on Lens Chain
Lens Chain has been designed as a Layer 2 solution with an optimized architecture that bypasses the costs and limitations of traditional networks. The adoption of GHO is strategically aligned with the principles of SocialFi. Which seeks to provide large-scale, decentralized social and financial applications.
Lens Chain, which uses ZKsync technology and Avail DA infrastructure. Will implement the ZKSync Shared Bridge as the main liquidity mechanism for GHO. This will ensure stability and security in cross-chain transactions. Allowing GHO to be used efficiently without introducing additional risks to the platform.
With this integration, Lens Chain sets a new standard in terms of efficiency, scalability, and costs within the blockchain of the SocialFi sector. GHO is positioned not only as a stable payment method within the platform but also as a reliable option for other sectors beyond DeFi. Expanding its utility to real-time social applications
