GHO (GHO): D-Score 36/100 — Centralized Leaning BlockIndex D-Score: 36/100 (Centralized Leaning). GHO (GHO) is a Layer 2 cryptocurrency using PoS consensus. GHO: Aave’s governance-native, overcollateralized stablecoin redirecting interest to the DAO treasury and expanding cross-chain. Source: https://blockindex.ai/coin/gho · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 36: Node distribution: 0: Initial distribution: 0: Governance: 25: Age and history: 11: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: PoS (N/A) - Launch: Other (2021) - Founder: Stani Kulechov; Aave Labs; Nader Dabit - VC funded: No - Max supply: N/A - Circulating: 599,000,000 Market data (as of 2026-06-19) - Price: $1 - Market cap: $598.12M - 24h volume: $2.13M - 24h change: -0.02% · 7d change: +0.01% About GHO is a protocol-native, overcollateralized USD-pegged stablecoin issued within the Aave Protocol and governed by the Aave DAO. Launched on Ethereum mainnet in July 2021, GHO was designed to provide a stable unit of account that directly accrues economic value to the Aave Treasury through routed interest on minted positions. Its design emphasizes governance-first parameter setting, treasury accruals, and composability inside Aave markets: issuance occurs by depositing collateral into Aave pools under terms set by on-chain governance, and interest repayments on GHO borrow positions flow to the DAO treasury rather than to asset suppliers. This alignment aims to internalize protocol revenue and create a stablecoin whose growth benefits the protocol community. Technically, GHO is implemented as an ERC-20 token operating primarily on the Ethereum mainnet with subsequent cross-chain deployments and governance-approved expansions (Arbitrum, Gnosis Chain, and planned Plasma/CCIP lanes). GHO leverages a fixed-oracle pricing mechanism within Aave markets, enabling deterministic minting and accounting behavior for the stablecoin. The protocol also provides a Flashmint Facilitator which supports rapid minting operations without immediate collateral deposits, and it relies on Aave’s established market architecture for multi-collateral, overcollateralized minting flows. As an ERC-20 asset, GHO has no native consensus or miner incentives of its own; instead, it inherits security and consensus properties from its parent chain, Ethereum (post-merge Proof-of-Stake). GHO’s primary use cases include serving as a USD-denominated unit of account within Aave markets, a medium for on‑protocol stable lending and borrowing, and a liquidity instrument for integrations across decentralized and centralized venues. Governance proposals and DAO votes have driven cross-chain deployment, incentive programs to list GHO on centralized exchanges, and product concepts such as sGHO (a proposed yield-bearing wrapper). These governance processes and community-driven proposals shape adoption paths and integrations, including initiatives targeted at growing CEX liquidity and deploying GHO to additional chains. Market and on-chain metrics show a circulating supply on the order of ~495.25M GHO with active listings on major analytics platforms and exchanges, enabling both on‑chain and off‑chain market activity. From a tokenomics perspective, GHO is overcollateralized and mintable via Aave collateral deposits; it does not rely on an initial token sale structure or traditional premine model. Interest and protocol revenue flows are routed to the Aave Treasury under DAO parameterization, providing a revenue-capture mechanism for the protocol. While GHO behaves as a stablecoin with small price variance, governance has documented episodes of peg stress and market movement (ATH/ATL records) that governance continues to monitor through on‑chain proposals. The Aave DAO retains authority to change parameters, approve cross‑chain deployments, and appoint service providers (e.g., Karpatkey) to execute growth strategies. Governance and community structure are fully on‑chain through Aave governance; decisions about GHO parameters, deployments, and service-provider appointments are decided by token-holder voting and formal proposals. Aave Labs functions as a service provider and development contributor rather than as a sole controlling company; the protocol’s operations and treasury decisions remain DAO-governed. Looking forward, GHO’s roadmap emphasizes cross-chain expansion, treasury monetization, and integrations that increase liquidity and utility, with the DAO overseeing parameter changes and deployment strategies. Links - Website: https://gho.xyz/ - Whitepaper: N/A - GitHub: https://github.com/aave/interface --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore