OUSDvsGHO
Open USD vs GHO — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
OUSD — Open USD
GHO — GHO
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
OUSD held the tighter band: worst deviation 3 bps against 16 bps.
Key differences
- OUSD and GHO are similar in size — within 10% of each other by USD-equivalent value.
- OUSD ranks #17 while GHO ranks #18 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- OUSD is a fiat-backed stablecoin; GHO is crypto-backed. Different mechanism, different failure modes.
- GHO reports overcollateralized (aave) in reserve. We do not track a published reserve breakdown for OUSD.
- OUSD is deployed on 4 chains — much broader coverage than GHO's 2.
- Primary chain differs — most OUSD supply lives on Tempo, while most GHO supply is on Ethereum.
Full comparison table
| Metric | OUSD | GHO |
|---|---|---|
| USD circulation value | $698.8M | $698.6M |
| Rank (by USD value) | #17 | #18 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | — | Overcollateralized (Aave) |
| Chains deployed | 4 | 2 |
| Primary chain | Tempo | Ethereum |
| Issuer | — | Aave |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between OUSD and GHO?
Both track USD, so they compete for the same use cases. GHO holds overcollateralized (aave). We track no published reserve breakdown for OUSD. OUSD ranks #17 by USD value and GHO ranks #18.
Which is bigger, OUSD or GHO?
OUSD is larger, with $698.8M in circulation vs $698.6M for GHO. That's roughly 1.0× the size.
Is OUSD safer than GHO?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. OUSD uses a fiat-backed model; GHO uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between OUSD and GHO?
Yes. OUSD and GHO both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose OUSD or GHO?
The right choice depends on your use case. Consider: which chain do you need? OUSD is available on 4 chains and GHO on 2. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.