Gyroscope (GYD)Gyroscope is a crypto startup building a decentralized stablecoin called GYD (gyro dollar), which has an “all-weather” reserve design intended to diversify risks in the DeFi ecosystem. Seed Round: $4.5 Million IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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What is Gyroscope
Gyroscope's mission is to build robust public infrastructure for DeFi. The central piece is a fully-backed stablecoin with all-weather reserves and autonomous price bounding:
- A fully backed stablecoin: the Gyroscope stablecoin aims at a long-term reserve ratio of 100%, where every unit of stablecoin is backed by 1 USD worth of collateral.
- An all-weather reserve: the reserve is a basket of protocol-controlled assets that jointly collateralize the issued stablecoin. Initially most assets will be other stablecoins. The reserve aims to diversify all risks in DeFi to the greatest extent possible. It considers more than just price risk, but also censorship, regulatory, counterparty, oracle and governance risks.
- Autonomous price bounding: Prices for minting and redeeming stablecoins are set autonomously to balance the goal of maintaining a tight peg with the goal of long-term viability of the project in the face of short-term crises.
Gyro Proto (p-GYD) is a beta version of the Gyroscope stablecoin system. It is released in a guarded form on Polygon for testing purposes prior to the full Gyroscope launch on Ethereum.
DetailsRaised: 4,500,000 USDLegalBlockchain Platform: EthereumRegistration year: 2020 | Token infoTicker: GYDType: Utility-token |
Gyroscope Roadmap
Prototype
Whitepaper
Testnet
Emergent DAO
Final Protocol Design
First Code Audit
Completion of Sybil Challenges
Sybil-resistant NFT launched
Final Code Audits
2- and 3-CLPs deployed on Polygon (for testing, capped)
Consolidated Price Feed Deployed
E-CLP deployed on Polygon (for testing, capped)
Gyro Proto launched (capped)
Full Deployment on Ethereum
Launch SAMMs on L2s
SC Issuance by Leveraged Loans