GyroDAO — a decentralized currency, not tied to any fiat currency. Using algorithmic control of market dynamics, the stable currency Gyro aims to curb inflation and provide users with optimal purchasing power.
About the GyroDAO project
Gyro is comprised of treasury and liquidity, which are managed and owned by the protocol itself. The Gyro algorithm dynamically mints GYRO tokens, based on a bond mechanism and high staking rewards, which are designed to control inflation and dilution. The Treasury issues bonds, which are profitable for the protocol. This allows the treasury to use the profits to mint the GYRO and distribute it among the participants. With LP bonds, the protocol can accumulate liquidity, ensuring the stability of the system.
Main advantages:
| Backed by assets | Each GYRO is backed by multi-asset stablecoins and GYRO-USDT LP in the treasury. This ensures that the GYRO is greater than or equal to 1 USDT. |
| Protocol-driven | Treasury and reserve are managed and controlled by the protocol itself. At the same time, ensuring transparency and fairness for all participants is monitored. |
| Community driven | Gyro — an open, community-driven protocol where GYRO token holders can propose, discuss and make changes to the Gyro. |
If you add Gyro to your portfolio, it can become a hedging tool for important assets (e.g. BTC, ETH, BNB) such as USDT. The difference in the rules of the game for the Gyro is that it gets rid of the need to be pegged to the US dollar.
The bond generates profits for the protocol, and the Treasury uses the profits to mint the GYRO and distribute it to the stakers. With an LP bond, the protocol can accumulate liquidity to ensure system stability.
More about the site on Binance
Gyro has started out as a community-driven project with no venture capital backing, no pre-mining and no ICO. The goal - to create a financial infrastructure that applications and developers can rely on forever. To achieve this, the developers intend to decentralize the Gyro protocol completely - to eliminate any single point of failure and create an unbreakable open protocol that can evolve in completely new ways. You can get more information about the project through the introductory document. There is a general description, features of work and RoadMap.
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