GHO (GHO)USD

GHO is a decentralized, overcollateralized stablecoin built for the Aave Protocol, soft-pegged to the US dollar and used for on-chain borrowing, payments, and DeFi activity. Aave Labs proposed and built GHO, first presenting the concept to the Aave DAO in 2022. Governance of the stablecoin now rests entirely with the Aave DAO rather than any single entity. GHO launched on Aave v3 on Ethereum mainnet in July 2023, after a testnet deployment in February 2023 and a formal Aave governance vote. The stablecoin is minted directly by borrowers who deposit diversified crypto collateral into Aave smart contracts. Peg stability is supported by a GHO Stability Module and Chainlink CCIP-based cross-chain infrastructure. The token's ticker is GHO. Users mint it by borrowing against collateral, pay interest on their GHO debt, and use it for payments, trading, and DeFi liquidity. Interest revenue flows to the Aave DAO treasury. GHO is also available on supported Layer-2 networks including Base and Arbitrum. Its supply is uncapped and elastic, expanding and contracting with user borrowing demand, while overcollateralization requirements keep reserves above outstanding supply.