DefiLlama shows ~$948M in 1y Aave V3 fees versus ~$875M for every other lending market combined, so GHO has a distribution engine most DeFi stables never got. $583M GHO supply is still tiny next to USDC/USDT, but if TokenLogic’s ERC-4626 sGHO upgrade and one-click app routing land cleanly, it can become Aave’s default cash balance instead of another DAO pet project.

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