What is GHO's quality score?

GHO (Aave DAO) scores 33/100 on OnChain Benchmark's Stablecoin Quality Rating — Limited, as of Oct 10, 2026 (methodology v1.5-stablecoin).

How is GHO's quality score calculated?

OnChain Benchmark scores GHO across four equally weighted dimensions, each out of 25: reserve quality (12/25), redemption depth (17/25), transparency (0/25), holder concentration (4/25). The four add directly to the 33/100 composite. The full rubric is published at onchainbenchmark.com/methodology.

How concentrated is GHO's ownership?

OnChain Benchmark scores GHO's holder concentration 4/25 — one of the four dimensions of its quality rating, measured against free float (circulating supply outside issuer, custody, exchange, bridge and protocol wallets), across Ethereum, Base and Arbitrum. A higher score means ownership is more broadly distributed; a lower score means it is held by fewer wallets.

What does Limited mean?

Under OnChain Benchmark methodology v1.5-stablecoin, composite scores grade as Verified Capital (≥ 85), Institutional-grade (≥ 70), Developing (55–69), and Limited (below 55). GHO scores 33/100, placing it in Limited.

OCB — Quality Rating · Stablecoins

GHO Quality Rating

GHO (Aave DAO) scores 33/100 on OnChain Benchmark's Stablecoin Quality Rating — rated Limited (methodology v1.5-stablecoin, as of Oct 10, 2026).

Latest onchain read Oct 10, 2026

Updated daily

Quality score

of 100 · Limited

Dimensions measured

of 4

Outstanding supply

$744.87M

as of Oct 10, 2026

Chains

with measured supply

Why GHO scores 33

The biggest gap in GHO's score is that no reserve report is on record.

The four dimensions carry equal weight; their scores add up to the composite.

Composite

33 / 100

Dimension	Score	Why it scored this
Transparency No reserve report is on record. No regulatory license or charter is on record for the issuer. Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.	0 / 25	No reserve report is on record. No regulatory license or charter is on record for the issuer. Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.
Holder Concentration Ownership is concentrated: the top 10 holders across Ethereum, Base and Arbitrum own 95.9% of the free float on those chains. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).	4 / 25	Ownership is concentrated: the top 10 holders across Ethereum, Base and Arbitrum own 95.9% of the free float on those chains. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).
Reserve Quality The coin is backed by crypto collateral, which can fall in value, rather than by cash. Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).	12 / 25	The coin is backed by crypto collateral, which can fall in value, rather than by cash. Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).
Redemption Depth Onchain trading depth is limited: about $29.77M can be exited onchain at or within 1% of the peg, including $29.65M redeemable 1:1 through onchain stability modules. Upgrade factorMore onchain liquidity: $100.00M or more tradable within 1% of the peg (21 of 25).	17 / 25	Onchain trading depth is limited: about $29.77M can be exited onchain at or within 1% of the peg, including $29.65M redeemable 1:1 through onchain stability modules. Upgrade factorMore onchain liquidity: $100.00M or more tradable within 1% of the peg (21 of 25).

OCB Instrument

Outstanding supply

Measured onchain daily, summed across every chain the fund is issued on. Latest reading $744.82M.

Source: OCB Quality Ratings · GHO · onchainbenchmark.comMeasured daily · Oct 10, 2026

Rating history

No change since Oct 9, 2026

GHO has held its 33/100 rating (Limited) with no change since Oct 9, 2026.

Key facts

Issuer, rubric and methodology

Issuer: Aave DAO
Asset class: Stablecoins
Rubric: Stablecoin Quality Rating
Methodology: v1.5-stablecoin
Last scored: Oct 10, 2026
What it is: Overcollateralized decentralized stablecoin minted via the Aave v3 protocol, governed by AAVE token holders.

Chains

Share of measured supply by chain

With measured supply

Chain	Contract	Share of measured supply
Ethereum	0x40D16F…aE6C2fExplorer ↗	93.8%
Arbitrum	0x7dfF72…7c8B33Explorer ↗	6.1%
Base	0x6Bb7a2…da10EeExplorer ↗	<0.1%

Evidence

Verified facts behind the rating

A sample of the verified facts behind GHO’s score. The full diligence trail is in the terminal.

Facts shown

Dimension	Fact	Finding	Verified	Source
Disclosure Quality	Contract address	Contract address verified on Ethereum: 0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f (primary deployment) Address confirmed active onchain.	Jun 13, 2026	Verified against primary sources

Cite this rating

Reference GHO’s rating

Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.

Plain

OnChain Benchmark (2026). GHO Quality Rating: 33/100 (Limited), as of Oct 10, 2026. Methodology v1.5-stablecoin. https://onchainbenchmark.com/instruments/gho

Harvard

OnChain Benchmark (2026) 'GHO Quality Rating', OnChain Benchmark, Limited, 33/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/gho (Accessed: Oct 10, 2026).

BibTeX

@misc{ocb_gho_2026,
  author = {{OnChain Benchmark}},
  title = {{GHO Quality Rating}},
  year = {2026},
  note = {33/100, Limited, methodology v1.5-stablecoin},
  url = {https://onchainbenchmark.com/instruments/gho}
}

Full diligence trail

The interactive terminal shows every verified fact behind GHO's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.

Open in the terminal →Read the methodology →

Dimension

Score

Transparency

No reserve report is on record. No regulatory license or charter is on record for the issuer.

Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.

0 / 25

Holder Concentration

Ownership is concentrated: the top 10 holders across Ethereum, Base and Arbitrum own 95.9% of the free float on those chains.

Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25).

4 / 25

Reserve Quality

The coin is backed by crypto collateral, which can fall in value, rather than by cash.

Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).

12 / 25

Redemption Depth

Onchain trading depth is limited: about $29.77M can be exited onchain at or within 1% of the peg, including $29.65M redeemable 1:1 through onchain stability modules.

Upgrade factorMore onchain liquidity: $100.00M or more tradable within 1% of the peg (21 of 25).

17 / 25

Chain

Share of measured supply

Ethereum

93.8%

Arbitrum

6.1%

Base

<0.1%

Dimension

Finding

Verified

Disclosure Quality

Contract address verified on Ethereum: 0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f (primary deployment)

Address confirmed active onchain.

Jun 13, 2026

@misc{ocb_gho_2026, author = {{OnChain Benchmark}}, title = {{GHO Quality Rating}}, year = {2026}, note = {33/100, Limited, methodology v1.5-stablecoin}, url = {https://onchainbenchmark.com/instruments/gho} }