gyroscope

ChainCatcher news, according to CoinDesk, Gyroscope's "all-weather" stablecoin gyro dollar (GYD) has launched on the Ethereum (ETH) mainnet. The team stated, "GYD is a means to guard against the risks of holding stablecoins, allowing risk management to be on autopilot."Gyroscope claims to be an alternative to centralized and algorithmic stablecoin designs, promising to protect holders from any decoupling events. As a decentralized, non-custodial stablecoin, GYD is fully backed by reserve assets and employs an algorithmic mechanism to peg its price at 1 dollar.

ChainCatcher message, CertiK monitoring shows that the Discord server of the stablecoin project Gyroscope has been compromised. Hackers have posted fake Mint links; please do not click on any links until the team confirms they have regained control of the server.According to RootData data, Gyroscope is a self-stabilizing, reserve-backed stablecoin protocol. The price of Gyro dollar is stabilized by various mechanisms or defenses built into the protocol. Gyroscope completed a $4.5 million seed round financing in January 2022. (Source link)

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)