GHO (GHO)

Savings GHO is the premier yield-bearing stablecoin for anyone who wants to earn the @aave Savings Rate, currently 4.25%.

You can deposit or withdraw at any point, and there's no rehypothecation of assets under the hood.

Savings GHO (sGHO) by Aave currently pays a higher yield than sUSDS, and more than every Spark Savings product as well.

Last week Sky cut its Savings Rate (sUSDS) from 3.60% to 3.52%. Back in February the rate stood at 4% and after several consecutive cuts it now sits at 3.52%. Spark Savings products also have been cutting the rates in the last months.

Current rates:
→ sGHO: 4.25%
→ sUSDS (Sky): 3.52%
→ Spark Savings (USDC/USDT/USDS/PYUSD): 2.75% to 3.52%

sGHO is currently paying 73bps above sUSDS.

GHO is Aave's native stablecoin, over-collateralized by assets held inside the protocol.
Savings GHO can be redeemed for GHO at any time, with no minimum deposit required. It provides a savings rate automatically, paid out in GHO, funded by two sources:
- interest paid by GHO borrowers, and
- yield earned on the stablecoin reserves that back GHO

The GHO Stability Module is now GHO's single largest revenue source at $6.7M annualised, 54% of the total, ahead of Core at $3.7M (30%), with Prime and Horizon adding $1.11M and $861K.

At the same time, GHO expenses fell from a $10M+ peak in Q3 2025 to $3.5M in Q2 2026, roughly a third of last year's high.

Revenue is holding steady while the cost base keeps shrinking. On an annualised basis GHO now sits at $12.6M in revenue against $12.8M in expenses.

Closer than ever to breaking even sustainably.

Full breakdown in our Q2 report ↓