2 years ago, @GHO revenue had one engine. Now it has 4. August did ~$792K in revenue, roughly: ➤ Core ~$335K ➤ GSM ~$292K ➤ Prime ~$94K ➤ Horizon ~$70K The shift matters. When Core was the only engine, GHO revenue depended heavily on one market. Now GSM, Prime and Horizon are bringing in different sources of demand. Horizon is still the smallest piece, but it’s the one I’m watching most closely. If RWA credit keeps scaling on Aave, GHO gets another revenue engine that can grow without relying on the same crypto-native borrowing demand. GHO is slowly becoming a much more diversified business.
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