
Gyroscope
$1.21
+$0.043
+3.69%
• Today
Info
Symbol
GYFI
Network
Ethereum
Total Supply
13.7M
About
"Gyroscope is a decentralized protocol which allows the issuance of a fully-backed stablecoin with algorithmic price bounding and all-weather reserves:
- 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.
- Algorithmic price bounding: Prices for minting and redeeming stablecoins are set algorithmically 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.
"
FAQ
The total supply of GYFI is 13.7M.
GYFI can be bought and traded on a variety of cryptocurrency platforms, including Phantom!
Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.
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Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.