Michigan Blockchain Club supports the strategic expansion of GHO to the Sonic blockchain. We’re aligned with Aave’s multi-chain growth and capitalizing on Sonic’s surging DeFi activity driven by its upcoming airdrop. Deploying GHO alongside Aave’s Sonic launch positions the stablecoin to become a core asset in a rapidly growing ecosystem.
Sonic’s momentum is a unique opportunity. As of March 23, GHO’s total supply is fluctuating around $200M. As of March 23, Sonic chain’s TVL is around $850M, which is almost double of the TVL a month ago, validating Sonic as a high-growth chain with a thriving DeFi sector. Aave’s market has also grown to around $195M, showing early traction on Sonic. This dominance creates a prime environment for GHO to replicate its Base & Arbitrum success.
Source: Sonic TVL on DefiLlama on March 23, 2025
Source: Aave V3 TVL (Sonic) on DefiLlama on March 23, 2025
GHO borrowing remains healthy. Additionally, user driven gem rewards create a great ground for GHO adoption. Integrating GHO into Beethoven’s liquidity pools (a Balancer fork) enhances capital efficiency, while Balancer’s gem incentives could attract sustainable liquidity. Also, Sonic’s thriving stablecoin yield venues (like Silo, Pendle) offer pathways for GHO to generate utility beyond borrowing, such as yield farming and collateralization.
This proposal is a logical step in GHO’s multi-chain journey. We vote for this ARFC to ensure Aave remains at the forefront of cross-chain innovation.
-nsks