USDfvsGHO
Falcon USD vs GHO — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDf — Falcon USD
GHO — GHO
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDf supply moved -0.3% and GHO +16.7% — GHO grew faster. GHO held the tighter band: worst deviation 26 bps against 54 bps.
Key differences
- USDf is roughly 1.8× larger than GHO by USD circulation value ($1.26B vs $697.5M).
- USDf ranks #14 while GHO ranks #17 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are crypto-backed stablecoins, so the mechanism is not what separates them.
- GHO reports overcollateralized (aave) in reserve. We do not track a published reserve breakdown for USDf.
- Chain coverage is comparable: USDf on 2 chains, GHO on 2.
Full comparison table
| Metric | USDf | GHO |
|---|---|---|
| USD circulation value | $1.26B | $697.5M |
| Rank (by USD value) | #14 | #17 |
| Peg | USD | USD |
| Mechanism | crypto-backed | crypto-backed |
| Backing | Delta-neutral (Falcon) | Overcollateralized (Aave) |
| Chains deployed | 2 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Falcon Finance | Aave |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDf and GHO?
Both track USD, so they compete for the same use cases. GHO holds overcollateralized (aave). We track no published reserve breakdown for USDf. USDf ranks #14 by USD value and GHO ranks #17.
Which is bigger, USDf or GHO?
USDf is larger, with $1.26B in circulation vs $697.5M for GHO. That's roughly 1.8× the size.
Is USDf 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. Both use a crypto-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDf and GHO?
Yes. USDf 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 USDf or GHO?
The right choice depends on your use case. Consider: which chain do you need? USDf is available on 2 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.