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Supply GHO

Given the nature of GHO and the way it interacts with Aave, GHO cannot be supplied to the Aave V3 Ethereum Pool where it is minted.

Supply Diagram Supply Diagram


As GHO is not supplied, there are benefits to the way GHO works in comparison to other assets.


No one has to have supplied GHO for a user to borrow it. Instead, the protocol calls the GHO contract and mints that GHO on demand.


GHO smart contracts do not follow usual supply and demand dynamics, as the supply side does not exist. Therefore, interest rates are not determined by utilization rates as they are with other stablecoins. For GHO, interest rates are determined by the Aave Governance.

As GHO is decentralized, GHO intentionally does not have one single concentrated point of control.

Competitive Interest Rates

As GHO is not supplied, there are no suppliers to pay. The interest accrued on positions can be paid straight to the DAO.