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Head-to-head · Stablecoins

GHO (Aave) vs TUSD (TrueUSD) GHO (Aave) leads by 3 points.

GHO (Aave) scores 3 points above TUSD (TrueUSD), led by seizure and upgrade authority. GHO (Aave) ranks #8 and TUSD (TrueUSD) #11 of 11 published stablecoins. Every term of the gap is on the ledger below; the inputs are on the audit receipt.

GHO (Aave)56
TUSD (TrueUSD)53
Scores are out of 100; published scores fall within 41–99 · ranks #8 and #11 of 11
Methodology v2026.10.18Ranking snapshot Evidence verified through 4 published criteria5 score dimensions Receipt #cc-VS-GHO-AAVE-VS-TUSD-TRUEUSD-0046e026
Published verdictRanking snapshot 3 November 2026

GHO (Aave) leads by 3 points

GHO (Aave) scores 3 points above TUSD (TrueUSD), led by seizure and upgrade authority.

GHO (Aave) #8 of 1156
TUSD (TrueUSD) #11 of 1153
Scores are out of 100; published scores fall within 41–99; a bar is empty at 41 and full at 99.
Why, term by termGHO (Aave) leads on 1 of 4 published criteria; TUSD (TrueUSD) on 0. The terms sum to the gap.
TermGHO (Aave)TUSD (TrueUSD)WeightPoints
Seizure and upgrade authority6/103/104.3+3.4for GHO (Aave)+1.7 of 32
Net of the terms+3.4
Reproduced gap+3.4
Published gapAfter score rounding and bounds — see the note below5653+3.0

Weight is in points of the 86-point weighted total. Points are score points of the gap between the two.

  • A row-above bound on one row means the criterion arithmetic does not reproduce the displayed gap exactly.
Quick facts

At a glance

2 of 3 rows read the same for both.
FactGHO (Aave)TUSD (TrueUSD)
PricingSnapshotPUBLISHED (marketing, https://aave.com/gho, fetched 29 September 2026): "Swap USDC, USDT for GHO at 1:1 — free to redeem." The same page's numeric counters (Max swap fee, Total Backing, Total Reserves, current borrow and savings rates) are still rendered client-side and serve placeholders to a non-browser fetch, so no fee or rate figure is readable from the page as published; the quoted sentence is the only static fee statement on it. NO BINDING DOCUMENT PRICES ANYTHING: the Aave Terms of Service (https://aave.com/terms-of-service, rewritten, "Updated 07 September 2026") and the Aave App Terms of Service (https://aave.com/legal/app/terms-of-service, "Updated 14 August 2026"), both fetched 29 September 2026, contain no mint fee, no redemption fee and no minimum, and mention GHO only in the footer menu. ACTUAL LIVE PRICING, read on-chain 29 September 2026 at Ethereum block 26,082,183 via https://ethereum-rpc.publicnode.com: GSM_USDT 0x882285E62656b9623AF136Ce3078c6BdCc33F5E3 returns getFeeStrategy() = 0x06fbDE909B43f01202E3C6207De1D27cC208AcC1, whose getSellFee(1e18) = 0 and getBuyFee(1e18) = 1e15, i.e. 0.00% to convert USDT into GHO and 0.10% to convert GHO back out; GSM_USDC 0x3A3868898305f04beC7FEa77BecFf04C13444112 now returns a DIFFERENT strategy, 0xfDB0090A92d20EE39d82ac680477b1F58f0A23dE, whose getSellFee(1e18) = 0 and getBuyFee(1e18) = 1.5e15, i.e. 0.15% to leave via USDC (on 19 August 2026 both GSMs used the 0.10% strategy). WORKED EXAMPLE (label: on-chain read, not a page price): GSM_USDT getGhoAmountForBuyAsset(1000000000) returns 1,000.000000 waEthUSDT for 1,178.220242 GHO, of which gross 1,177.043199 GHO and fee 1.177043 GHO. CAPACITY: GSM_USDT getAvailableLiquidity() = 16,136,899.348701 waEthUSDT (worth 19,012,821.45 GHO by getGhoAmountForBuyAsset) and GSM_USDC 0.029227 waEthUSDC, so the par exit covers 2.72% of the 699,000,000 GHO supply (7.60% on 19 August 2026); the exit pays a wrapped Aave deposit receipt (waEthUSDT / waEthUSDC), not dollars. There is NO minimum and NO account requirement: buyAsset and sellAsset carry only the notFrozen and notSeized modifiers, and getIsFrozen() and getIsSeized() both return false on both GSMs. BORROWING: Aave v3 Pool 0x87870Bca3F3fD6335C3F4ce8392D69350B4fA4E2 getReserveData(GHO) at the same block returns currentVariableBorrowRate = 4.25% (3.75% on 19 August 2026). CAUTION FOR THE NEXT READER: neither live fee-strategy address appears in Aave's own documentation, https://aave.com/docs/ecosystem/gho.md (fetched 29 September 2026), whose address table still lists GSMUSDCFixedFeeStrategy 0xE5025A7c15a44283A0616567181587eE6A646D64 and GSMUSDTFixedFeeStrategy 0xA4346AEa575fCf5777D32F419E5850E5c68B2329; all fees above were read from the live contracts.MINT/REDEEM FEES — TrueUSD Terms of Use, https://app.tusd.io/terms-of-use (a JavaScript app; the Terms text is served from https://app-cdn.tusd.io/static/js/4464.9b870b98.chunk.js, the same build as in August, fetched 29 September 2026): "You are responsible for all on-chain transaction costs associated with on-chain transfers of any TrueUSD. The Company does not charge any Fees for minting or redeeming any TrueUSD and does not charge any on-chain transaction fees in addition to the blockchain-specific transaction fees associated with such transfers." HOMEPAGE ECHO — https://tusd.io (fetched 29 September 2026): "Additionally, TUSD does not charge any fees for its minting and redemption." MINIMUM — Terms of Use: "We reserve the right to prohibit wire submissions of fiat currency or redemption requests of TrueUSD if the total amount submitted or requested is less than US$1,000." — a discretionary floor, not a stated hard minimum: the issuer reserves the right to REFUSE below US$1,000 rather than promising to accept at or above it. ROUNDING — Terms of Use: "All TrueUSD tokens will be rounded down to the nearest amount of the lowest circulating denomination of the underlying fiat currency, upon redemption." WHAT THE FREE FEE BUYS — the same Terms: "The Platform is only intended to facilitate such mints and redemptions and the Company does not guarantee any right of redemption or exchange of TrueUSD tokens for US Dollars." and "In order to cause TrueUSD tokens to be issued or redeemed by the Company, you must be a verified customer of the Company." SILENT ON: no page loaded on 29 September 2026 states a redemption SLA, a settlement window, a banking-partner wire fee, or any maximum; no separate fee-schedule page exists. TYPED RATE (label, not a quote): spreadPct = 0 — the issuer charges no mint or redemption fee; only network gas applies.
Asset coverageEditorial——
Region fitSnapshotglobalglobal
From the published criteria

Which should you pick?

GHO (Aave)

56#8 of 11
Leads
Pick it when
Pick GHO (Aave) if seizure and upgrade authority matters most — it scores 6/10 to TUSD (TrueUSD)'s 3/10 there (weight 18).
Strength
Seizure and upgrade authority — 6/10
Tradeoff
Nobody owes you anything, and the page that says otherwise is not a contract. aave.com/gho sells GHO as "Every GHO is backed by more than $1 of crypto held inside Aave." and "Swap USDC, USDT for GHO at 1:1 — free to redeem." — but the only binding documents Aave publishes, its Terms of Service (Updated 07 September 2026) and Aave App Terms of Service (Updated 14 August 2026), never use the words 'redeem' or 'redemption', never mention GHO outside the footer menu, name two different counterparties ('Aave Labs' and 'Aave Interfaces Ltd'), and state "We do not act as your broker, exchange, lender, borrower, counterparty, agent, adviser, trustee or fiduciary in connection with your use of the Protocol." and "We do not take possession, custody or control of your digital assets or funds." What you get instead is better than nothing and worse than a right: a permissionless protocol swap facility that any wallet can use today with no account, no KYC and no minimum — but it charges 0.10% to leave through the USDT leg and 0.15% through the USDC leg while entry is free, it pays you a wrapped Aave deposit receipt rather than dollars, on 2026-09-29 it covered 19.01m GHO against a 699,000,000 supply (2.72%), with the USDC leg down to 0.029227 units, and a single governance transaction can switch it off. That is exactly what happened to its predecessor on 2025-03-17, when $24.0m of exit inventory was swept to the treasury in one transaction and both swap contracts were disabled for good, with no un-seize function in the code.

TUSD (TrueUSD)

53#11 of 11
Pick it when
TUSD (TrueUSD) leads GHO (Aave) on no published criterion and no score dimension — pick it only if a fact outside the score (country, funding rail, custody) decides for you.
Strength
Redemption right exercised — 3/10
Tradeoff
That the reserve backing it holds zero US Treasury Bills. TUSD's own assurance report, dated 19 August 2026 and signed by Moore CPA Limited, lists 'US Treasury Bills $0', '$78,900.88' of cash, and $501,850,000 — 99.98% — as a single balance at First Digital Trust Limited, which the same report says 'has invested all or substantially all of the collateral in other instruments to generate yield, which cannot be readily convertible to cash, and are subject to ongoing legal proceedings.' Techteryx has a worldwide freezing order from the DIFC Courts over up to US$456 million and says it has arranged separate 'alternative liquidity' so that tokens 'in public circulation' can still be redeemed — while the same report discloses that 412,585,497.92 of the 494,515,082.75 tokens issued are held by Techteryx itself. A close second: the Terms of Use you agree to name no company at all — 'Company' is defined as 'us', and a search of the full Terms for 'Ltd', 'Limited', 'LLC', 'Inc.' and 'Techteryx' returns zero hits — and those same Terms state that 'the Company does not guarantee any right of redemption or exchange of TrueUSD tokens for US Dollars.'
Self-identify in 10 seconds

Which one is actually for you?

GHO (Aave)Leads

Choose GHO (Aave) if seizure and upgrade authority matters most

  • Seizure and upgrade authority: 6/10 against 3/10 for TUSD (TrueUSD) (weight 18)
TUSD (TrueUSD)

TUSD (TrueUSD) leads GHO (Aave) on no published criterion

  • Choose it only if something outside the published criteria decides for you — your country, a funding rail, or custody.
Criterion by criterion

Scorecard

Published criteria · weight in points of 868 of 8 cells scored. Strength is read from the evidence file; the weight is the published one. Methodology

Counterparty and insolvency rank

weight 7.2 of 86Tie
GHO (Aave)1 out of 10
TUSD (TrueUSD)1 out of 10

Redemption right exercised

weight 6.7 of 86Tie
GHO (Aave)3 out of 10
TUSD (TrueUSD)3 out of 10

Reserve and assurance scope

weight 5.8 of 86Tie
GHO (Aave)2 out of 10
TUSD (TrueUSD)2 out of 10

Seizure and upgrade authority

by 3 of 10weight 4.3 of 86GHO (Aave) leads
GHO (Aave)6 out of 10
TUSD (TrueUSD)3 out of 10

Score dimensions

weights sum to 86

The published score is five dimensions, each weighted for the category. "Published criteria" is the criteria block above; the other four are the engine's own terms — availability, friction, trust record, measured data. Each bar is one side's points out of that dimension's maximum; the weight beside the name is its points of the 86-point weighted total. The published criteria above can fill 24 of the block’s 30. A weight marked “constant here” belongs to a dimension every ranked product in the category holds at the same value: it still counts in the total, and it orders nothing here.

Availabilityweight 20 of 86 · constant here
GHO (Aave)14/20TUSD (TrueUSD)14/20
Tie
Published criteriaweight 30 of 86
GHO (Aave)6.5/30TUSD (TrueUSD)5.2/30
GHO (Aave) leads
Frictionweight 10 of 86 · constant here
GHO (Aave)2.7/10TUSD (TrueUSD)2.7/10
Tie
Trust recordweight 8 of 86 · constant here
GHO (Aave)3.2/8TUSD (TrueUSD)3.2/8
Tie
Measured dataweight 18 of 86 · constant here
GHO (Aave)8.3/18TUSD (TrueUSD)8.3/18
Tie
Decision rulePublished order

Choose GHO (Aave) unless the term TUSD (TrueUSD) leads on is the one you are buying.

TUSD (TrueUSD) leads GHO (Aave) on no published criterion and no score dimension — pick it only if a fact outside the score (country, funding rail, custody) decides for you.

The published order weighs every criterion the same way for everyone. To weigh them your way, run .

From the published order

Next best action

If this isn't your case

Other matchups worth comparing

How you can lose money here, and what the ranking scores
  • Control failure: a key or vote changes the rules, freezes or mints.
    Scored by Who can freeze, burn or replace your balance — and have they? · 18% (GHO (Aave) 6/10, TUSD (TrueUSD) 3/10)
  • Insolvency failure: the firm or issuer that owes you cannot pay.
    Scored by Who exactly owes you the dollar, and where do you rank when they fail? · 30% (GHO (Aave) 1/10, TUSD (TrueUSD) 1/10)
    Scored by What is really behind it, and what did the third party actually opine on? · 24% (GHO (Aave) 2/10, TUSD (TrueUSD) 2/10)
  • Exit failure: you cannot get out at par, on time, or with what is yours.
    Scored by Can the person actually holding it get a dollar back at par — and has anyone, at size? · 28% (GHO (Aave) 3/10, TUSD (TrueUSD) 3/10)
Not assessed by this ranking: Contract failure, Custody failure, Regulatory failure, Information failure. A high place says nothing about these; the Methodology tab says what each means.
Questions

Frequently asked questions

GHO (Aave) scores 3 points above TUSD (TrueUSD), led by seizure and upgrade authority. Published scores, out of 100: GHO (Aave) 56 (rank 8 of 11 stablecoins), TUSD (TrueUSD) 53 (rank 11 of 11).

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Written and reviewed by Founder
Reviewed Next review by Methodology v2026.10.18
How this page is reviewed

Reviewed means both products compared here 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.

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