Well spotted by LlamaRisk; structural shift of GHO to harbor RWA leveraged via @aave Horizon instance. Many ppl are lost on RWAs, they kinda know it's hyped but don't see real use cases beyond t-bills and occasional private credit vehicle. Here's one growth case: Bring investment-grade bonds & ETFs onchain. Scale them safely with high-capacity repo trading at Aave Horizon. We will see billions in these trades next year.

LlamaRisk
@LlamaRisk
12-10
@GHO is evolving beyond purely crypto-native backing. Through the Horizon market, @aave’s stablecoin is partly backed by RWAs, such as @SuperstateInc's USCC (CME Futures/T-bills). In our latest LlamaRisk Insights, we explore this material shift and unpack GHO’s balance sheet. 🧵
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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