Lens Chain Adopts Aave’s GHO Stablecoin For Gas Fee Payments

Lens Chain, a social media platform and Ethereum Layer 2, will adopt GHO, a stablecoin native to lending protocol Aave, for gas fee payments.

“The adoption of GHO as the native gas token within Lens Chain is driven by the need to establish predictable, stable, and cost-effective transaction fees,” Lens said in a Feb 12 blog post.

Lens said its decision to use a decentralized stablecoin for gas fee payments stems from predictability, cost-effectiveness, and user experience. Lens is developed by Avara, the team behind Aave.

GHO has a market cap of $193 million, according to Coingecko data. It is the 26th largest stablecoin by market cap, and has grown by 19% in the last month. GHO lives in the Aave ecosystem and can be borrowed against any collateral assets in Aave.

The ZKSync Shared Bridge will be used to enable GHO for gas fee payments on Lens. It will serve as the primary liquidity and security bridge of the chain. A GHO wrapper will be deployed on Ethereum to act as the entry point for the bridged GHO on the ZKSync bridge.