Lens Chain plans to adopt Aave’s GHO stablecoin as native gas token

Lens Protocol, a Layer 2 SocialFi blockchain developed by Aave developers, said it would use a connected GHO stablecoin as the native gas token. This means that users interacting with the Lens Chain, particularly for transactions or smart contract executions, will use GHO to pay for gas fees instead of any other token.

GHO is a decentralized, overcollateralized stablecoin from Aave Labs that maintains a stable value pegged to the US dollar.

The adoption of GHO as the native gas token within Lens Chain aims to provide predictable and stable transaction fees. “Choosing GHO as the gas token is strategic and functional. Decentralized stablecoins like GHO offer transparency and predictable value,” the team said.

A framework for using GHO as a gas token was recently unveiled by Aave Labs, with Lens Chain becoming one of the first Layer 2 solutions to implement it. Both Lens and GHO were developed by the developers behind the lending protocol Aave, which now operates under the Avara umbrella.

Lens Chain is a Validium chain under development using the ZKsync stack. It leverages Avail for data availability. Last month, its developers said the mainnet launch was “coming soon” — although it had previously targeted to release it by Q4 of last year. The chain aims to serve as the infrastructure for Lens Protocol , a decentralized social graph where users control their data and interactions.

GHO will be integrated as a gas token using ZKsync’s “shared bridge,” serving as the main liquidity bridge to mint the stablecoin on Layer 2.

Lens Protocol has raised $46 million through different funding rounds. In December, it raised $31 million in a round led by Lightspeed Faction.