Decentralized stablecoin development company Gyroscope has completed a $4.5 million seed round financing, led jointly by Placeholder and Galaxy

ChainCatcher news, decentralized stablecoin development company Gyroscope has completed a $4.5 million seed round financing, led by Placeholder and Galaxy, with participation from Maven 11, Archetype, Robot Ventures, and Balancer Labs co-founder and CEO Fernando Martinelli.

Gyroscope co-founder Lewis Gudgeon stated that this round of financing ended in January 2022, but Gyroscope is now making it public as the protocol's codebase is nearly complete and preparations for a full launch are underway. Gyroscope's stablecoin, called gyro dollar, with the code name GYD, is non-custodial and is designed to be fully backed by reserves. (source link)