The score, by dimension
- the same for all 7
- #4 of 7 · best 17.8
- the same for all 7
- the same for all 7
- the same for all 7
Tick: the best in this ranking · Methodology v2026.11.1
Aave GHO
Stablecoin borrowed against Aave collateral
#4 of all 7 worldwide67
- Rank
- #4 of all 7 worldwidere-runs: scores 65–69 and stays #4
- Your cost
- $450 a year4.5% borrow APR · read
- Evidence
- High4 of 4 criteria sourced
- Licence
- No MiCA record on file
- Freshness
- Read October 2026checked · re-read due
Check availability for your country
Aave GHO · aave.com. Provider links appear once we know which country you are browsing from: ChainChoice links to providers only where it serves in full.
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
The verdict
Aave GHO is #4 of 7 published CDP stablecoins; it scores 6/10 on liquidation mechanics, where the category best is 9. Its widest gap is collateral integrity: 4/10, where Liquity V1 (LUSD) scores 7. Choose Liquity V1 (LUSD) if collateral integrity matters most.
Is Aave GHO right for you?
Look elsewhere if
- Liquidation mechanics you actually bear6/10 here; Curve crvUSD scores 9
- What actually backs the coin4/10 here; Liquity V1 (LUSD) scores 7
- Cost of the loan and who controls it6/10 here; Liquity V1 (LUSD) scores 10
- Observed peg behaviour under stress5/10 here; Sky (formerly MakerDAO) USDS scores 7
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best CDP stablecoin shows where it lands for you.
What will Aave GHO cost you?
$450 interest/yr
- Amount borrowed
- $10k
- Borrow APR
- 4.5%
How safe is Aave GHO?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read October 2026.
- LicenceMiCA (EU): no register record on file here.
If it doesn’t fit, choose
Compare all 4- 2Liquity V1 (LUSD)If borrow cost predictability matters most: 109 points above · stronger on borrow cost predictability (10 against 6)76$0.00 a year · read
- 3Curve crvUSDIf liquidation mechanics matter most: 96 points above · stronger on liquidation mechanics (9 against 6)73$330 a year · read
- 5Sky (formerly MakerDAO) USDSIf peg resilience matters most: 79 points below · stronger on peg resilience (7 against 5)58no verified pricing
Provider at a glance
- Category
- CDP Stablecoins
- Entity
- All 5 Aave products
- Official website
- aave.com
Independent rankingchecked How it works
Details
Scored 67 out of 100 under methodology 2026.11.1, from the evidence read in October 2026.
For your setup
Find out if Aave GHO fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Aave GHO lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best CDP stablecoinNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Aave GHO ranks #4
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (17.0 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
356+6.726.09#4/7
Primary
Provider page · read 2026-10-22254+3.204.08#3/7
Third party
Third party · read 2026-10-22206+3.846.010#4/7
Primary
Provider page · read 2026-10-22205+3.204.07#2/7
Third party
Third party · read 2026-10-22Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−6behind Curve crvUSD, #3 of all 7 worldwide, on the published score
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 65–69 and stays #4
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Aave GHO’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Liquidation mechanics you actually bear 6 → 10 on its ladder · passes Curve crvUSD+476#4 → #3
What actually backs the coin 4 → 9 on its ladder · passes Curve crvUSD+575#4 → #3
Liquidation mechanics you actually bear 6 → 1 on its ladder · Sky (formerly MakerDAO) USDS passes it−556#4 → #5
Smallest climb: liquidation mechanics you actually bear 6 → 10 passes Curve crvUSD, #3.
Strengths
0 from the score dataWhere it leads
No scored criterion is at or within one point of the category best, so no strength can be stated from the data.
Tradeoffs
4 from the score dataWhere it trails
Not for readers who put first
- Liquidation mechanics you actually bear — 6/10 against a category best of 9/10
- What actually backs the coin — 4/10 against a category best of 8/10
- Cost of the loan and who controls it — 6/10 against a category best of 10/10
- Observed peg behaviour under stress — 5/10 against a category best of 7/10
Record watch-outs
- GHO is deliberately crippled as collateral: reading the Aave v3 reserve configuration on-chain returns ltv = 0bps and liquidationThreshold = 0bps for GHO itself, meaning you cannot post GHO to borrow against it anywhere in Aave. It is a one-way exit. Combined with the persistent sub-$1 price, you mint at $1 of debt, sell at $0.9986 (DefiLlama, 15 September 2026), and cannot recycle the proceeds as collateral within the protocol that issued it.
- Calling getFacilitatorsList() + getFacilitator() on GHO 0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f returns seven facilitators whose minted levels sum to exactly 649,000,000: CoreGhoDirectMinter 135,000,000 (20.8%); 'GhoDirectFacilitator GSMs Mainnet' 310,000,000 (47.8%); 'GhoDirectFacilitator GSM Arbitrum' 50,000,000 (7.7%); 'GhoDirectFacilitator Plasma' 50,000,000; LidoGhoDirectMinter 45,000,000; HorizonGhoDirectMinter 59,000,000; FlashMinter 0. GSM = GHO Stability Module, Aave's peg-stability module (fixed-rate USDC/USDT swap facility). So 55.5% of GHO supply is minted by facilities LABELLED GSM ON-CHAIN, and only ~20.8% originates from the Aave v3 pool i.e. actual user borrows against posted collateral. Separately, the inference itself is a non-sequitur: totalSupply matching circulating supply says nothing whatsoever about issuance origin — Sky's totalSupply also matches its circulating figure while being 41.3% PSM. This is precisely the critique the research levels at Sky and crvUSD in its own uncomfortableFindings, but failed to run against GHO. The collateralIntegrity score of 8 (joint-highest in the set, above Sky's 2 and crvUSD's 6) is unsupportable on this evidence. Read again 15 September 2026: eight facilitators now sum to 699,000,000 (a 50,000,000 'GhoDirectFacilitator GSM Monad' bucket was added), and bucket labels overstate PSM origin: 291.4M of the 310M 'GSMs Mainnet' level sits idle in GhoReserve 0x54C58157DeF387A880AE62332D1445f03adbE7E9, whose getUsed() shows 18.6M drawn by the mainnet GSMs (about 2.7% of supply). User borrows across the Core, Lido and Horizon markets are 209.7M (30.0%), not ~20.8%, and 150M is bridged to the Plasma, GSM Arbitrum and GSM Monad facilities, whose composition on those chains was not read. collateralIntegrity is now 4.
Competitive position
How Aave GHO places on each criterion
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Against the leader
80 vs 67 · gap 13.0Why Liquity V2 (BOLD) ranks above Aave GHO
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 13.0 to within rounding.
DimensionThisLiquity V2 (BOLD)Gap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight12.717.8−13.3, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisLiquity V2 (BOLD)Points
Liquidation mechanics you actually bear · w3568−2.24, worse
What actually backs the coin · w2548−3.20, worse
Cost of the loan and who controls it · w2069−1.92, worse
Observed peg behaviour under stress · w2054+0.64, better
Net6780−13.0
Your scenario
What Aave GHO costs on your scenario
Interest on what you borrow at the published rate. Variable rates move; excludes origination and liquidation penalties. Change an input and every figure recomputes from the published rate; the published rank does not move.
interest/yr · default scenario — set your own
Amount borrowed · your input$10k
Borrow APR · published rate4.5%
Rate read from the provider’s published pricing ↗ on 22 October 2026.
interest/yrCost is stated as interest/yr in USD; it is never a yield, never annualised, and it does not enter the score.
$450
Under the default inputs · USDTypical costNot statedFewer than 5 priced rows: no typical cost is named · 3 of 7 rows priced
Lowest fee, priced rows$249 · Liquity V2 (BOLD)Aave GHO costs +$201 more · availability not applied — set your country to filterCompare with Liquity V2 (BOLD)
3 of 7 rows in this ranking have no verified rate for this scenario and are absent from the typical, not counted as free.
1 of 7 quote a zero fee that leaves costs out, so they are absent from the typical and the lowest fee, not counted as free.
Evidence
Evidence read 22 October 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessHoldsrank #4 across every one-point re-run
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 10 November 2026; this category's reading is older. The scores stand as read on 22 October 2026.
CriterionSourceTypeReadFreshnessStatusReceipt
Liquidation mechanics you actually bearstrength 6 · weight 35Report an errorProvider's own page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.What actually backs the coinstrength 4 · weight 25Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Cost of the loan and who controls itstrength 6 · weight 20Report an errorProvider's own page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Observed peg behaviour under stressstrength 5 · weight 20Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.How you can lose money here, and what the ranking scores
- Control failure (Aave GHO 6/10): a key or vote changes the rules, freezes or mints.Scored by Cost of the loan and who controls it · 20%
- Oracle failure (Aave GHO 6/10): a wrong price or outcome liquidates or settles a position.Scored by Liquidation mechanics you actually bear · 35%
- Insolvency failure (Aave GHO 4/10): the firm or issuer that owes you cannot pay.Scored by What actually backs the coin · 25%
- Exit failure (Aave GHO 5/10): you cannot get out at par, on time, or with what is yours.Scored by Observed peg behaviour under stress · 20%
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- Read on-chain 22 October 2026 (Ethereum block 26246923, 08:20:59Z) from Aave v3 Pool 0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2, getReserveData(GHO): currentVariableBorrowRate = 4.50% (ray 45000000000000000000000000). The rate was 3.75% on 4 August 2026 and 4.25% on 15 September 2026. GHO borrowed in Aave's Lido market costs 4.08% and in the Horizon RWA market 3.25% at the same block.Aave GHO — official pricing page ↗ · 22 October 2026
- Prices published in
- USDAave GHO — official pricing page ↗ · 22 October 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Not published
- Supported chains
- Multi-chain
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Permissionless contracts; the aave.com interface's Terms of Service ("Updated 07 September 2026", read 22 October 2026 at aave.com/terms-of-service) bar users located in sanctioned territories, "(the "Restricted Jurisdictions") including but not limited to Belarus, Côte d'Ivoire, Crimea, Cuba, Donetsk People's Republic of Ukraine, Iran, Iraq, Kherson region of Ukraine, Liberia, Libya, Luhansk People's Republic of Ukraine, Myanmar, North Korea, Russia, Sudan, Syria, Venezuela, Zaporizhzhia region of Ukraine". The contracts themselves are not gated. Bucket: global.
Legal entity on file: Aave, placed in 5 products. Only confirmed entities are shown; nothing is inferred from the brand name.
If something goes wrong with Aave GHO: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 22 October 2026Current verified snapshot · methodology 2026.11.1Score 67, #4 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 15 October 2026
2026.10.10The live-data rule names the researched market measurements a criterion reads- changed The live-data rule names a second kind of figure a score reads: a researched, dated market measurement a criterion's ladder is built on, read again on the 45-day review. /methodology/live-data lists the 14 criteria that read one; no score, rank or order changes.
- changed A saved decision is checked again on the answers the reader saved. The drift check had merged a priority suggested by the market (price swings, gas) into those answers, so a market reading could move a saved decision's #1; the published ranking never read it.
- added On every build a test reads every criterion's published ladder: one that names a market quantity or a market-data source must be declared, and every scored row of a declared criterion must carry the source and the date its figure was read.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.11.1, the same published run every visitor sees · receipt cdp_stablecoins:aave_gho:2026.11.1:3ca1ffa85b58
Are you Aave GHO? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.