- Gyroscope is a decentralized protocol which allows the issuance of a fullybacked stablecoin with algorithmic price bounding and allweather reserves: A fully backed stablecoin: the Gyroscope stablecoin aims at a longterm reserve ratio of 100%,where every unit of stablecoin is backed by 1 USD worth of collateral. - An allweather reserve: the reserve is a basket of protocolcontrolled assets that jointly collateralize the issued stablecoin. - Initially most assets will be other stablecoins. - The reserve aims to diversify all risks in #DeFi to the greatest extent possible. - It considers more than just price risk,but also censorship,regulatory,counterparty,oracle and governance risks. - Algorithmic price bounding: Prices for minting and redeeming stablecoins are set algorithmically to balance the goal of maintaining a tight peg with the goal of longterm viability of the project in the face of shortterm crises..
Summary of the coin Gyroscope
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