Gyroscope GYD token
Overview
Gyroscope GYD is a decentralized stablecoin issued by the Gyroscope protocol. It is designed to maintain a 1:1 peg to the US dollar through a combination of collateral reserves and algorithmic stabilization mechanisms. GYD is used within the Gyroscope ecosystem for payments and as a medium of exchange.
Within the DeFi Intel graph, Gyroscope GYD connects to 6 tracked entities, most strongly to Ethereum, Polygon, Gyroscope Protocol.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 6 of 6 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
deployed_on | Polygon | 95% |
issued_by | Gyroscope Protocol | 95% |
backed_by | USD Coin | 90% |
backed_by | Lido Staked ETH | 90% |
backed_by | sDAI | 90% |
Frequently asked questions
What is Gyroscope GYD?
Gyroscope GYD is a decentralized stablecoin issued by the Gyroscope protocol, designed to maintain a 1:1 peg to the US dollar through collateral reserves and algorithmic stabilization.
What chains is GYD deployed on?
GYD is deployed on Ethereum and Polygon.
What assets back Gyroscope GYD?
GYD is backed by USD Coin, sDAI, and Lido Staked ETH.