GHO

GHO is a decentralized, crypto-backed stablecoin designed to maintain a value of one US dollar. It is issued by the Aave protocol and is intended to give users of that lending platform a way to borrow liquidity without selling their deposited collateral. The asset sits in the broader category of USD-pegged stablecoins and operates across several blockchain networks including Ethereum, Arbitrum, Base, Avalanche, and Gnosis Chain.

GHO is minted when borrowers on the Aave protocol lock qualifying crypto assets as collateral, and it is burned when loans are repaid, keeping the supply directly tied to outstanding collateral positions. The token does not have its own consensus layer or block time; it inherits the settlement guarantees of whichever host chain it is deployed on. Because the entire circulating supply of roughly 699 million tokens is already issued and no dilution overhang is recorded, the ratio of fully diluted value to market cap stands at 1.0, meaning no additional supply is held in reserve waiting to enter circulation.

The data stored for GHO does not include a fee revenue figure, so fee-based measures such as protocol earnings or distribution to token holders cannot be reported here. In the Aave system, borrowers pay an interest rate on minted GHO, but that flow is not captured in the metrics on this page. What the data does show is a 30-day stablecoin supply change of 7.70416 percent, which reflects how quickly the outstanding borrow demand has expanded or contracted over that period. Observers seeking fee or revenue information would need to consult Aave's own governance and treasury disclosures directly.