GHO 

GHO Price

What is GHO stablecoin?

GHO is a decentralized, overcollateralized USD stablecoin native to the Aave Protocol. Aave Labs proposed GHO on the Aave governance forum on June 23, 2022, and the Aave DAO approved GHO through the AIP 74 governance vote. GHO launched on Aave V3 Ethereum mainnet in July 2023. Users mint GHO by borrowing against crypto collateral supplied to Aave V3, and 100% of GHO borrow interest flows to the Aave DAO treasury.

How does GHO maintain its peg to the US dollar?

The GHO Stability Module (GSM) defends the peg. Approved through an Aave governance vote in January 2024, the GSM enables 1:1 conversion between GHO and USDC or USDT, minus a fee. A 2026 RemoteGSM architecture extends the same peg-defense mechanism to GHO deployments on layer-2 networks. Overcollateralized minting supports the peg as well — Aave V3 reserves always exceed GHO supply.

Is GHO backed by collateral?

Yes — every GHO in existence was minted against overcollateralized crypto positions on Aave V3. Borrowers lock crypto collateral worth more than the GHO they draw, so protocol reserves always exceed GHO supply. GHO is not backed by fiat reserves or bank deposits, which places it outside fiat-backed issuer regulatory regimes. There is no insider or foundation allocation — all GHO originates from overcollateralized borrowing.

How do you mint GHO?

Minting happens through borrowing on Aave V3. A user supplies crypto collateral to Aave V3, borrows GHO against it, and the protocol mints new GHO. Repaying the debt burns the GHO. Minting capacity is bounded by facilitators — governance-approved entities, each limited to an individually capped bucket that only an Aave DAO vote can raise.

What is GHO's total supply?

GHO has no fixed maximum supply — supply is elastic and expands or contracts with borrowing demand, so the outstanding amount drifts continuously; the live figure is tracked on DropsTab and Etherscan. Expansion follows no schedule: facilitator bucket caps, set and raised through Aave DAO votes, bound how much GHO can exist at any time.

Does GHO have a vesting schedule or token unlocks?

No. GHO has no vesting schedule, no TGE allocation, and no team or investor unlocks — every token was minted against collateral on Aave and is burned on repayment. Supply growth therefore tracks borrow demand rather than a release calendar, and minting capacity changes only through Aave DAO facilitator-cap votes.

Who created the GHO token and who governs it?

Aave Labs created GHO — the team authored the proposal on the Aave governance forum on June 23, 2022. The Aave DAO governs GHO: it approved the launch via AIP 74, approves facilitators, and votes on every minting-cap increase. TokenLogic and Aave Labs developed the GSM and its 2026 RemoteGSM extension. GHO itself had no token sale, funding rounds, or VC allocation — the token is a protocol-native asset of the Aave ecosystem.

What is sGHO and how does it work?

sGHO is a yield-bearing savings wrapper for GHO built by Aave. Depositors convert GHO into sGHO and earn a variable rate generated from GHO borrow interest within the Aave ecosystem. The rate floats with borrow demand rather than being fixed, so quoted APY figures change over time — current rates are published by Aave.

Which blockchains support GHO?

GHO is deployed on Ethereum, Arbitrum One, Base, Avalanche, Gnosis, Mantle, Monad, Plasma, and X Layer (per official Aave docs). The Aave community approved the cross-chain strategy in a temperature check on January 17, 2024. Native GHO launched on Arbitrum One on July 2, 2024, with cross-chain mint and burn handled by a Chainlink CCIP facilitator; a Base deployment followed.

How can you buy GHO?

GHO trades on both centralized and decentralized exchanges. Bitget and Gate list GHO against USDT, while decentralized liquidity sits in Uniswap V3 and Balancer V2 pools across Ethereum, Arbitrum One, and Base, per DropsTab data. CEX coverage is thin for a major DeFi stablecoin — most secondary liquidity sits in DEX pools and on-protocol minting. The primary price anchor is Aave itself, where GHO is minted and repaid at peg, and swapped 1:1 minus a fee through the GSM.