GHO

GHO (GHO) is a decentralized US dollar stablecoin designed to hold a value of one dollar. It is a crypto-collateralized stablecoin most closely associated with the Aave lending ecosystem, where users can mint GHO against supplied collateral. Unlike centralized stablecoins backed by bank reserves, GHO is created on-chain and governed by a decentralized community.

What is GHO?

GHO is a USD-pegged stablecoin built to give DeFi users a decentralized medium of exchange and unit of account. Its purpose is to offer dollar stability without depending on a single corporate issuer. Holders can use it to trade, lend, borrow and move value across the DeFi ecosystem while aiming to keep each token near a dollar in value.

How does GHO work?

GHO is over-collateralized: it is minted when users lock up crypto assets worth more than the stablecoins they create. This buffer helps the peg absorb volatility in the underlying collateral. Mechanisms such as interest rates set by governance and arbitrage incentives help push the price back toward one dollar when it drifts. Because it is decentralized and multi-chain, GHO can operate across networks including Ethereum, Arbitrum, Avalanche and Gnosis Chain.

GHO tokenomics and supply

GHO's supply is not fixed by a hard cap but expands and contracts with minting and burning. Circulating and total supply currently both stand at about 599 million GHO, reflecting how much has been minted against collateral. When users repay and burn GHO, supply falls; when they mint more, it rises.

• Circulating supply: about 599 million GHO
• Total supply: matches circulating, about 599 million
• Supply is elastic, driven by minting against collateral
• Target value: 1 USD; all-time high near $1.03, all-time low near $0.92

What is GHO used for?

As a stablecoin, GHO functions as on-chain dollars. It is used for trading pairs, lending and borrowing, payments and as a stable store of value within DeFi. Its integration with the Aave ecosystem means borrowers can mint it directly against collateral, and it circulates across several EVM networks for broad accessibility.

Where to buy GHO

GHO can be obtained on decentralized venues and by minting within the Aave ecosystem, as well as on exchanges that list it. See our best crypto exchanges ranking for reputable platforms, and hold GHO in a self-custody wallet from our best crypto wallets guide. As with any stablecoin, confirm you are using the correct contract.

Is GHO a good investment?

A stablecoin like GHO is not designed to appreciate; its aim is to stay near one dollar, so it is a tool for stability rather than growth. The key risks are peg deviations, collateral volatility and smart-contract or governance failures. Its price history shows it has traded modestly above and below the peg. This is informational only and not financial advice; understand the collateral model before relying on it.