Aave's GHO Has a Peg Problem That Discounts Don't Fix
GHO has traded below its $1 peg for most of its existence. Rate tweaks help at the margins, but the structural issue runs deeper.
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GHO has traded below its $1 peg for most of its existence. Rate tweaks help at the margins, but the structural issue runs deeper.
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Pectra raised the validator cap from 32 ETH to 2,048 ETH. The downstream effects on staking concentration are only starting to show.
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Record mining difficulty signals more hashrate, not higher prices. The two metrics have been decoupling in 2026.
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BTC and the S&P 500 have been moving independently for weeks. That shift matters more than the price level itself.
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PBS shifts block construction away from validators - and the centralisation risk hiding inside that trade-off deserves more attention than it gets.
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Aave's utilization-based rate curves work well in calm markets - but they're built to break under stress in a predictable way.
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