Prix Gyroscope 

GYFI

Gyroscope is a new stablecoin design that, like a physical gyroscope, remains stable as the surrounding environment changes. It is a revolution in stablecoin pricing, DeFi risk control, and AMM design.

The following characteristics capture the essence of its design:

• Fully-backed. In Gyroscope, every stablecoin unit is intended to be backed by 1 USD worth of collateral. The reserve stratifies risk by being made up of isolated assets; by design, reserve assets are contained and do not affect one another. At first, the reserve will be composed mostly of other stablecoins.
• Autonomous monetary policy. Gyroscope automatically monitors its own system health, adjusting liquidity and risk management according to transparent, autonomous rules. These rules define the minting/redemption prices quoted by the system and can sustain and stabilize the protocol's balance sheet in the event of shocks to the reserve.
• Resilient liquidity. Gyroscope’s reserve assets are held in vaults. The starting strategy for vaults is to deploy assets into AMMs that backstop liquidity around the current redemption system quotes. Deployed reserve assets carry yield that helps — in addition to possible revenue from protocol fees —- the Gyroscope stablecoin to recover from shocks and create a continuous upward drift on the reserve ratio.

The Gyroscope protocol features several reconstructed Web3 infrastructure elements, which can be combined to issue the Gyroscope stablecoin, GYD. These include:

• Price-bounded AMMs. Gyroscope’s ‘Concentrated Liquidity Pools’ (CLPs) are a class of AMMs that price the exchange of assets within a defined range. The pool designs range from simplified Uniswap V3 pools, to pools that combine multi-asset pools and concentrated liquidity, to configurable Stableswap-like pools.
• A resilient, cross-referenced data feed. Different oracle and on-chain data sources can be layered and cross-referenced to harden security assumptions, remove complexity and provide ‘one-stop-access’ to robust price feeds, with ‘assert’ like function logic.
• A Dynamic Stability Mechanism. A ‘PSM 2.0’ features diversified PSM reserves, programmatic risk control, coordinated PSM strategies, and a contingency pricing to preserve reserves.
• Optimistic governance. Optimistic governance is a way to overcome the principal-agent problem, by granting stablecoin holders the right to veto decisions enacted via governance actions.

The mission of the Gyroscope DAO is to set the bar for digital currency and reinvent stablecoin architecture and risk control.

That’s why Gyroscope was founded on these principles:

• Web3 infrastructure should not ask for trust, it should beget it.
• Web3 infrastructure should be governed by its users.
• Web3 infrastructure should be open.