Aave stewards propose GHO rate, capacity, and redemption-fee changes

What happened

An official steward publication proposed raising the Horizon GHO base rate, expanding the Monad USDC GSM's capacity, increasing USDC GSM redemption fees on Ethereum, Monad, and Arbitrum, and lowering the Ethereum USDT GSM redemption fee.

What changed

A concrete steward plan now specifies prospective changes to GHO borrowing cost, issuance capacity, and redemption economics in response to a persistent discount to par and growth in Horizon GHO debt.

What did not change

The cached record does not provide executed transaction records or confirm that the new parameters are already operative. It does not establish that GHO's peg has recovered.

Confirmed

• The proposed Horizon GHO base rate is 3.25%, up from 3.00%.
• The proposed Monad USDC GSM GhoReserve limit and USDC exposure cap are both 50 million.
• The proposed USDC GSM redemption fee is 15 basis points on Ethereum, Monad, and Arbitrum.
• The proposed Ethereum USDT GSM redemption fee is 10 basis points, down from 15 basis points.
• The publication directs implementation through existing Risk Steward and GHO Risk Council authority and calls for weekly monitoring after execution.

Still open

• The exact execution transactions and effective times for each parameter change.
• Whether the proposed changes will reduce the reported GHO discount or alter GSM flows as intended.
• Whether any parameter will be modified before execution.

What it means for an advisor

• Monitor execution because the proposal changes GHO borrowing and redemption economics across several venues.
• After execution, review GHO peg behavior, GSM liquidity, and Horizon debt growth before incorporating the new settings into the Aave memo baseline.