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TVL $9MAPY 4.35%medium riskUpdated Feb 1, 2025

GHO/USDC Convex Deposit

Deposit Curve GHO/USDC LP tokens into Convex for boosted yields on this Aave stablecoin pair.

ProtocolConvex
Networkethereum
SymbolCVXGHO-USDC
CategoryYield Vaults
Underlying Assets
GHOUSDCCRVCVX
Contract Address0xa6b7c8d9e0f1a2b3c4d5e6f7a8b9c0d1e2f3a4b5

What is GHO/USDC Convex Deposit?

This vault optimizes yields for the Curve GHO/USDC pool through Convex Finance. GHO is Aave's native stablecoin, minted against collateral deposited in Aave V3. The pool pairs GHO with USDC for efficient stablecoin liquidity.

Understanding GHO and Aave

GHO represents Aave's expansion into native stablecoins:

  1. Aave Collateral: GHO is minted against Aave V3 deposits
  2. Variable Rate: Interest rate determined by Aave governance
  3. stkAAVE Discount: AAVE stakers get reduced borrowing rates
  4. Facilitator Model: Approved entities can mint GHO within limits

GHO leverages Aave's massive collateral base for stability.

How GHO Works

GHO's minting mechanism:

  • Users deposit collateral in Aave V3
  • Borrow GHO against that collateral
  • Pay interest rate set by governance
  • Interest accrues to Aave DAO treasury

The facilitator model allows controlled expansion beyond just Aave.

How This Vault Works

  1. Provide GHO and/or USDC to Curve pool
  2. Stake LP tokens in Convex vault
  3. Convex applies veCRV boost
  4. Earn trading fees + CRV + CVX
Yield Sources: Curve swap fees, boosted CRV emissions, CVX incentives.

Fee Structure

Convex standard fees:

  • 16% of CRV rewards
  • No deposit/withdrawal fees

GHO Incentive Programs

Aave often incentivizes GHO liquidity:

  • AAVE token rewards
  • Partner protocol incentives
  • Special programs for early adopters

Check current incentive programs on Aave governance.

cvxCRV and Protocol Integration

The Convex-Curve relationship:

  • cvxCRV represents locked CRV position
  • Staking cvxCRV earns protocol fees
  • vlCVX directs gauge emissions
  • Integrated yield infrastructure

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, Aave V3, and GHO facilitator contracts. GHO Peg Risk: As a newer stablecoin, GHO may experience peg volatility. Interest rate adjustments affect minting/burning incentives. Interest Rate Risk: GHO borrowing rate is governance-controlled. Rate changes affect supply/demand dynamics. Aave Protocol Risk: GHO collateral is Aave deposits. Aave exploits or issues would affect GHO backing. USDC Risk: Circle's centralized stablecoin with reserve dependencies. Facilitator Risk: Third-party facilitators could introduce risks if poorly managed. Governance Risk: Aave governance controls GHO parameters including interest rates and facilitator limits.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

Monitor this position alongside your portfolio.

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