The DeFi project making it possible to benefit
Singapore, Aug 23, 2021 (GLOBE NEWSWIRE) – The cryptocurrency space has been dominated by decentralized finance for the past couple of years, and much of it has to do with stablecoins. Most DeFi protocols don’t have fiat ramps, which means the only way to inject value into these platforms is through stablecoins. Names like Tether and USDC are fueling the roaring engine of decentralized finance today, but if the past few years have taught us anything, it’s that an asset’s popularity isn’t always the best indicator of. its feasibility.
Today’s stablecoins are a bit broken, backed by a diverse pool of largely unregulated reserves. In an understandable turn of events, the industry has developed algorithmic stable coins, attempting to decentralize the stable coin market. Most stable coins like Tether are controlled centrally, while algorithmic stable coins are controlled by a decentralized autonomous organization.
However, even today’s most successful stable algorithmic initiatives have fatal design flaws. Maker, for example, is now heavily oversized with ETH. In these systems, users are required to deposit an asset to receive stable coins (in Maker’s case this is called a secured debt position), and during bull markets this pattern works reliably, even generating benefits for holders of native platform tokens.
In bear markets, however, when collateral held in reserves falls below a threshold value, the system itself begins to strike its native token to pay off lenders, which can lead to a spiral of losses and even a loss. complete devaluation of tokens.
Gyro was created to be much more than a stablecoin project – it is designed to help investors profit in any market by becoming the most trusted, stable and trusted base for conducting decentralized finance. . Its long-term floor price is one dollar, which means investors never have to worry about their holdings losing value, and it even offers ways to profit during a down cycle.
Bonds at stake
Gyro is a state-of-the-art decentralized network with DeFi functionality including staking and linking. However, before digging deeper into its staking and binding mechanisms, it’s crucial to understand how Gyro works as a platform.
Each GYRO token is backed by exactly one dollar of stablecoins, and when the value of that support drops below the $ 1 threshold, the protocol redeems the tokens and burns them. However, when demand increases, the system creates tokens to sell.
When a user deposits stable coins on the Gyro platform, the protocol returns 1 GYRO to the depositor. When the GYRO is sold back to the platform, a stablecoin is returned and the deposited GYRO is burned. However, stable parts locked in the platform do not sit idly by – they generate a return for the tramline workers.
Since the protocol itself is the only entity allowed to create or burn tokens, staking is extremely beneficial as the network is constantly profiting from buying or selling tokens. Whether buying GYRO below the $ 1 threshold during bear markets or selling it above during bull runs, the Gyro Network always benefits from market movements, and its immediate benefactors are gamers. .
Staking pushes the purchasing power of the network up, driving organic growth through compound interest and other staking incentives. Additionally, through linking, users have the ability to spit out LP Tokens in advance to purchase Gyro at a lower rate in the future. This adds liquidity to the protocol, increases treasury reserves, and helps keep the system stable and operational.
This allows Gyro to profit from both appreciating and falling markets, which has not been executed properly before in decentralized finance. Cryptocurrency markets are notorious for their storms of volatility, and even when it looks like the markets couldn’t go down further, they still manage. There are high profit margins to be made in crypto, but with great risk comes great reward, making it crucial to hedge your bets in this space.
A new spin on Stablecoins
The Gyro team will be making an Initial DEX Offering (IDO) shortly, giving early adopters the opportunity to make huge profits from the pre-registration sale on PancakeSwap.
The launch sale will take place from August 9 at 12 p.m. UTC until August 28 at 3 p.m. UTC. The sale price is $ 4. The funds will be used to provide initial liquidity.
The sale will bring in $ 200,000. $ 60,000 will be deposited in the Consolidated Revenue Fund to support the initial supply. The remaining $ 140,000 will be added as liquidity. The LP will open with 140,000 USDT and 10,000 GYRO. This is a starting price of $ 14 and initial liquidity of $ 200,000.
To be eligible, no purchase is necessary. Enter the Gyro Prize Draw and follow the eligibility instructions.
Gyro competition: https://gyro.money/sweepstakes
For more updates, be sure to join the Telegram community to stay up to date. Gyro not only helps investors make profits during bear markets, but also improves the stability of the market as a whole. Whether we are currently in a bull or bear market is still unclear, and in these situations, a market performance independent tool like Gyro is almost invaluable.
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