On March 5th, Aave founder Stani Kulechov announced via social media the introduction of a new savings product called sGHO, which aims to enhance user engagement and yield through the proposed Aave Savings Rate (ASR). This innovative offering is designed to provide low-risk savings that generate returns based on the existing GHO loan rates, supplemented by incentives derived from GHO borrowing revenues. Users will benefit from this product without incurring any deposit or withdrawal fees, making it accessible to a broader audience.
Kulechov anticipates that the implementation of sGHO could effectively bolster the circulation of GHO to between 3 to 5 billion tokens. When evaluating the revenue implications, Aave DAO could realize substantial gains, with each billion GHO generating equivalent income to that of 10 billion USDC. This initiative positions Aave to capitalize on the growing demand for decentralized finance solutions while ensuring sustainable returns for its user base.