Technology

Aave’s GHO Stablecoin Now Live on Arbitrum Powered by Chainlink CCIP

Published

10 months ago

July 2, 2024

LONDON, July 2, 2024 /PRNewswire/ — Following community discussions and voting, the Aave DAO has launched GHO on the Arbitrum network – the DAO’s first new market in its phased GHO cross-chain expansion strategy. GHO, the multi-collateralized stablecoin native to the Aave Protocol, will utilize the industry standard Chainlink Cross-Chain Interoperability Protocol (CCIP) and rollout progressively, beginning with Arbitrum as the first network and expanding over time to other networks. The expanded availability of GHO beyond Ethereum mainnet aims to increase accessibility, lower transaction costs, enhance the user experience, and improve liquidity, fostering greater adoption and spurring innovation. Although GHO is issued on Ethereum mainnet, the cross-chain strategy enabled by Chainlink CCIP will open the door to integration opportunities and new use cases. With the expansion to Arbitrum, the largest Layer 2 network with $17.7B in TVL, GHO becomes a borrowable asset in the Aave Arbitrum pool, making GHO more available in a cost effective way with additional use cases expected to follow.

“Congratulations to the Aave community on achieving this milestone for GHO’s expansion beyond Ethereum mainnet to Arbitrum,” said Aave Labs Founder and CEO Stani Kulechov. “The DAO’s measured approach to making GHO more accessible, aligns perfectly with its commitment to stability and risk management. Integrating with other networks will lower fees, offer faster transactions, and enhance liquidity, making GHO more attractive to users and ushering in a variety of new use cases, including GHO digital payments.”

“We are excited to see that the Aave DAO has chosen Arbitrum as the first platform to launch its GHO stablecoin. This integration is poised to revolutionize accessibility, lower transaction costs, and unlock unprecedented liquidity. As decentralized finance continues to advance, we are looking forward to seeing more transformative new use cases across Arbitrum.” said Nina Rong, Head of Ecosystem Development at The Arbitrum Foundation

“Excited to see that the Aave community has voted to choose the security of Chainlink’s CCIP as its interoperability solution for cross-chain GHO transfers. I have always seen the developers of Aave prioritize security, thanks to their deep understanding of the dynamics around keeping user value secure. CCIP does provide a large improvement on the security of other cross-chain systems, which is what will come to define it as the leading cross-chain infrastructure, just like the security of Chainlink Data Feeds is what led them to become the leading source of data in DeFi,” said Sergey Nazarov, Co-Founder of Chainlink.

For secure and cost-effective GHO cross-chain transfers, the Aave DAO chose CCIP, which is compatible with both EVM and non-EVM networks, enhances risk mitigation, security, and user experience through advanced features and mechanisms like rate limits, flexible billing, Programmable Token Transfers, a well-audited codebase, and a first of its kind separateRisk Management Network. Additionally, CCIP’s cross-chain security innovations empower the DAO through important risk management levers such as configurable rate limits and the ability to control GHO bridge logic. Backed by Chainlink’s battle-tested infrastructure, CCIP is widely adopted across DeFi and capital markets and supports existing Aave deployments, helping to ensure smooth and secure cross-chain expansion for GHO.

GHO was designed to be a secure multi-chain stablecoin architectured for flexibility. Arbitrum has, and every chain with GHO in the future will have, its own GHO version, backed by reserves on Ethereum, for sufficient collateralization. For secure cross-chain transfers between Ethereum and non-Ethereum chains like Arbitrum, GHO uses a lock-and-mint model enabled by CCIP, where tokens are locked on Ethereum while an equivalent amount is minted on the other network, keeping the total supply constant. As additional chains are supported, transfers between non-Ethereum chains will use a burn-and-mint model enabled by CCIP for maximum capital efficiency and fungibility, while still being backed by reserves on Ethereum. This ensures security and flexibility for GHO’s future expansion across multiple blockchains.

As described in the proposal, the DAO opted to implement its cross-chain strategy in a phased rollout, initially launching with a single network, rigorously evaluating the implementation, and progressively extending to additional networks. After public discussion in the Aave forum, where different network opportunities were presented, the DAO chose Arbitrum as the best option for the initial cross-chain rollout. The integration of GHO into the Arbitrum Aave pool as a borrowable asset marks a significant initial step for GHO on this network and serves a dual benefit: it allows users to supply GHO in exchange for yield, fostering initial demand, and it gives all Arbitrum users access to a new stablecoin option for borrowing. This not only aids in diversifying the risk across different assets but also lays the groundwork for the development of additional products and features.

To facilitate the launch the Arbitrum DAO have allocated 750,000 ARB through the Long-Term Incentives Pilot Program. Aave DAO service provider ACI has facilitated an incentive campaign from the Arbitrum ecosystem to foster growth on Arbitrum. Incentives will be available for the DAO, so service providers can use them. The Aave Liquidity Committee will make use of these incentives to enhance liquidity.

The information contained in this press release is provided for informational purposes only and does not constitute an offer or representation, express or implied, for the purchase or sale of any product or service. This release may contain forward-looking statements and is subject to change without notice. Neither Chainlink Labs Avara or The Arbitrum Foundation makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this release and neither party shall have any liability for any errors, incompleteness, interruption or delay in the content, or for any actions taken in reliance thereon.

Additional Resources:

You can find relevant documentation and resources about GHO here.

For more information on the DAO cross-chain strategy and rollout plan, please visit the Aave Community Forum here.

For more information on CCIP, go to the official Chainlink documentation.

For information on Arbitrum, please visit here.

Aave Protocol:
Aave is a non-custodial, open-sourced decentralized liquidity protocol that allows users to act as depositors and earn passive income, as well as borrow a wide range of digital assets without the need of third-party intermediaries. Core capabilities include risk mitigation features such as supply and borrow caps, and flash loans which allow users to borrow and repay assets within the same blockchain transaction block. GHO is a decentralized, overcollateralized stablecoin that is native to the Aave Protocol. The Aave Protocol is fully governed by the Aave Decentralized Autonomous Organization (DAO). Visit https://governance.aave.com/ to learn more and take part in Aave Governance.

Aave Labs
Focused on decentralized finance, Aave Labs is part of Avara. The team built the Aave Protocol and GHO and is a technical contributor to the Aave Protocol. GHO, the Aave-native stablecoin, is backed by multiple collaterals available in Aave V3 and is designed to serve as the internet payment layer.

About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About The Arbitrum Foundation
The Arbitrum Foundation is a Cayman Islands foundation company that is tasked with shepherding and nurturing the Arbitrum ecosystem. Abritrum is controlled by the Arbitrum DAO and The Foundation operates as a neutral steward in order to support the ArbitrumDAO, the continuous innovation of the Arbitrum technology and the development and education of the Arbitrum community.

You can learn more about the Foundation and Arbitrum at https://docs.arbitrum.foundation/gentle-intro-dao-governance

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SOURCE Chainlink; Arbitrum Foundation; Aave Labs

Technology

TVA GROUP INC. ANNOUNCES ELECTION OF DIRECTORS

Published

17 minutes ago

May 6, 2025

MONTREAL, May 6, 2025 /CNW/ – In accordance with the TSX Company Manual, TVA Group Inc. (TSX: TVA.B) is issuing this news release to disclose the voting results for the election of its directors obtained at its Annual Meeting of shareholders held earlier today.

All of the proposed nominees were duly elected as directors of the Corporation by shareholders present or represented by proxy at the meeting. The voting result was as follows:

NAME OF NOMINEES

VOTES

FOR

VOTES

WITHHELD

Jacques Dorion

4,318,523

99.99

0.01

Nathalie Elgrably-Lévy

4,318,523

99.99

0.01

Sylvie Lalande

4,318,523

99.99

0.01

Régine Laurent

4,318,523

99.99

0.01

A. Michel Lavigne

4,318,523

99.99

0.01

Daniel Paillé

4,318,523

99.99

0.01

Marie-Pierre Simard

4,318,523

99.99

0.01

TVA Group

TVA Group Inc., a subsidiary of Quebecor Media Inc., is a communications company engaged in broadcasting, film production and audiovisual services, international production and distribution of television content, and magazine publishing. TVA Group Inc. is North America’s largest broadcaster of French-language entertainment, information and public affairs programming and one of the largest private-sector producers of French-language content. It is also the largest publisher of French-language magazines and publishes some of Canada’s most popular English-language titles. Its Class B shares are listed on the Toronto Stock Exchange under the ticker symbol TVA.B.

SOURCE TVA Group

Technology

Lightricks Launches 13B Parameters LTX Video Model, Breakthrough Rendering Approach Generates High-quality, Efficient AI Video 30X Faster Than Comparable Models

Published

17 minutes ago

May 6, 2025

JERUSALEM and NEW YORK, May 6, 2025 /PRNewswire/ — Lightricks, a leader in AI-driven content creation technology, today announced the release of its LTX Video 13-billion-parameter model (LTXV-13B) – which may be the most advanced and efficient AI video generation model to date. This substantial upgrade dramatically increases quality while maintaining LTXV’s unparalleled speed generating AI videos. The 13B model is available within the company’s flagship storytelling platform, LTX Studio, shared with the open community and is being integrated across the Lightricks portfolio.

LTXV-13B introduces “multiscale rendering,” a major technical breakthrough that delivers both speed and quality through a layered process. The model drafts in lower detail first to capture coarse motion using fewer resources. This draft then guides the next stages, where the model progressively adds structure, lighting, and micro-motion (and spending time where it matters most). The result is high-fidelity video built through deliberate, multi-scale generation, with render times that can be more than 30X faster than comparable models – without compromising visual realism.

The new 13B model represents a significant leap forward in Lightricks’ generative AI capabilities, offering creators the ability to produce videos with stunning detail, coherence, and control. It utilizes the latest advancements in academia and the open source community, including unsampling controls and spatiotemporal guidance for video editing, and kernel optimization for running speeds.

Unlike other models that demand enterprise-grade GPU (and long rendering times), LTXV-13B delivers studio level video at unmatched speed, even on devices that creators already own, which differentiates LTX Video in the marketplace.

“The introduction of our 13B parameter LTX Video model marks a pivotal moment in AI video generation with the ability to generate fast, high-quality videos on consumer GPUs,” said Zeev Farbman, co-founder and CEO of Lightricks. “Our users can now create content with more consistency, better quality, and tighter control. This new version of LTX Video runs on consumer hardware, while staying true to what makes all our products different – speed, creativity, and usability.”

While developing and refining the 13B model, Lightricks entered into a strategic partnership with leading media asset provider Getty Images. In December 2024, Lightricks entered an agreement with Shutterstock to leverage their licensed content. These kinds of collaborations have given Lightricks access to an extensive library of high-quality video assets for model training, reinforcing its mission to build ethically trained, visually compelling, and commercially safe generative tools.

The LTXV-13B model now empowers creators with even more control and flexibility, seamlessly supporting all of the platform’s advanced creative tools, including:

Keyframe editingCamera motion controlCharacter and scene-level motion adjustmentMulti-shot sequencing and editing

In support of startups and small businesses, Lightricks is offering the 13B model free to license for enterprises with under $10 million in annual revenue. This initiative and the release of all LTXV models in open source reflect Lightricks’ commitment to making cutting-edge generative AI accessible to the next generation of creative companies and innovators. Open source versions of LTXV are available on Hugging Face (LTX-Video) and GitHub (LTX-Video).

“By consistently refining our models and working with the open community, we’ve built an AI system that generates physically natural movement while preserving artistic control,” added Yoav HaCohen, Director of LTX Video at Lightricks.

Since launching LTX Video in November 2024, Lightricks has collaborated with researchers and open-source contributors to improve motion consistency, scene coherence, and creative adaptability. Key open-source advancements in LTXV-13B include:

VACE Model Inference – advanced video generation and editing tools, including reference-to-video (R2V). Details on GitHubUnsampling Controls for Video Editing – Tools that reverse noise and refine frame granularity. Details on GitHub.Kernel Optimization – Efficient Q8 kernel usage allows performance scaling on lower-resource devices. Details on GitHub and HuggingFace.

With a growing library of models designed for diverse creative needs and a commitment to open development, Lightricks is shaping the future of generative AI video, bridging research-driven breakthroughs with real-world application. For more information about Lightricks, its products, technology, and open-source initiatives, visit www.lightricks.com.

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SOURCE Lightricks

Technology

CREDIT CARD VETERAN RODNEY YODER JOINS COIGN AS CFO

Published

17 minutes ago

May 6, 2025

MCLEAN, Va., May 6, 2025 /PRNewswire/ — Coign, a leading fintech company, is proud to announce the appointment of Rodney Yoder as Chief Financial Officer (CFO). With over three decades of financial leadership in banking, fintech, and high-growth companies, Yoder brings outstanding expertise to Coign’s executive team.

For more than a decade Yoder held senior leadership roles at Barclays, cultivating deep expertise in global payments, private banking, and credit. He also oversaw forecasting, risk management, and innovation strategies while leading a global finance team of 70 professionals. His earlier positions at Swift Financial and Bank of America/MBNA underscore his ability to build robust financial infrastructures, manage multibillion-dollar portfolios, and drive both cost efficiencies and revenue growth.

“Throughout his career Rodney has be a leader at Fortune 500 financial institutions, offering a unique perspective on credit, markets, and strategic vision,” said Rob Collins, CEO of Coign. “As we continue to scale and evolve as a fintech platform, his experience navigating complex transformations and delivering results across diverse markets will be incredibly valuable.”

“I’m excited to join Coign at this pivotal moment,” said Rodney Yoder, CFO of Coign. “The opportunity to shape the company’s next chapter of growth—by building strong financial foundations, optimizing capital strategy, and fostering innovation—is exciting. I look forward to collaborating with the leadership team to deliver long-term value for our customers, employees, and investors.”

Yoder’s career is marked by significant achievements, including spearheading financial planning for large-scale portfolio programs, assembling global finance teams, and developing systems and models that have driven successful audits, strategic transactions, and sustained growth initiatives.

Most recently, as CFO of Sunlight Financial, Yoder orchestrated a strategic transformation, guiding the company through its transition from public to private status. He played a pivotal role in evaluating strategic alternatives, securing $90 million in debt and $65 million in equity financing, negotiating loan agreements to enable $2.5 billion in forward flow loan financing, and implementing interest rate hedge programs to mitigate risk.

About Coign
Coign is the premier fintech platform for conservative Americans, offering credit cards and financial solutions designed to align with their values. Through a leading center-right media strategy, low customer acquisition costs, and a commitment to trust, Coign is building the largest conservative community in U.S. history, uniting millions to strengthen America’s foundations.

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SOURCE Coign