The launches enable Gyroscope to scale new risk-adjusted yield sources in the stablecoin space and as of today, Gyroscope’s pools are 75% more efficient than competitive offerings and are providing yield of over 60%.

Mar 19, 2024 – Gyroscope, the all-weather stablecoin on Ethereum, today announced its invite-only SPIN point system as well as its new ‘Rehype’ liquidity pools, the most capital efficient liquidity pools on the market. Gyroscope’s Rehype pools are new AMMs that increase liquidity pool yield by combining asymmetric concentrated liquidity with auto-rehypothecation to lending markets. With today’s launches, Gyroscope expands upon its reputation for stablecoin design innovations that put risk controls on autopilot.

​​The launch focuses on scaling more robust risk-adjusted yield sources for a decentralized stablecoin in a market that is increasingly dominated by centralized actors. SPIN will allow the community to recognize new early Gyroscope stakeholders for consideration in governance bootstrapping, including governance token distribution.

Gyroscope’s Rehype pools maximise LP yields by combining asymmetric concentrated liquidity with auto-rehypothecation to lending protocols like Aave. They allow LPs to triple dip in yield sources by layering swap yields from concentrated liquidity on top of lending yields on top of token incentive markets, in addition to earning Gyroscope SPIN. The combination of yield sources is expected to often reach mid-double-digit organic yield rates in the current environment.

Rehype pools work by incorporating lending deposits like Aave aUSDC in a simple way directly at the pool asset level with the conversion between lending deposit and underlying asset handled through front-ends and smart order routing.

“Our new Rehype liquidity pools will be, by far, the most capital efficient liquidity pools on the market. They improve capital efficiency on two fronts: asymmetric concentrated liquidity from E-CLPs and yield from auto-rehypothecating pool assets to lending protocols. They combine many yield sources into one form that can itself be used as productive collateral in other protocols in the form of pool shares,” said Ariah Klages-Mundt, co-founder of FTL Labs, developer of Gyroscope. “At the same time, rehypothecation in these pools is transparent and user controlled, in contrast to common rehypothecation practices that give issues in TradFi.” 

There are many ways to start earning SPIN. SPIN can be earned by minting GYD via a frontend in permitted jurisdictions, directly through the smart contracts, or purchased on Balancer, 1inch, CowSwap, 0x, and other swap routers. Providing liquidity to pools will also earn SPIN: GYD and other tokens can be provided as liquidity to select E-CLPs by joining the pools. 

“SPIN will be awarded hourly to users based on GYD minted by the user as well as providing liquidity to certain liquidity pools. There are SPIN multipliers, depending on various factors including previous participation in the protocol permitting many to jump multiplier tiers. Access is invite only and you can also earn SPIN by referring others,” said Lewis Gudgeon, co-founder of FTL Labs, the development team behind Gyroscope. “SPIN is to be distributed hourly.”

SPIN may be accessed at spin.gyro.finance. Access is invite only.

Some retroactive points have been distributed and more may be added later.

The SPIN program also incorporates a unique ‘DAO2DAO’ and ‘B2B' side to encourage new integrations of GYD and yield-bearing E-CLP share tokens at the protocol level. SPIN is available to projects and service providers who use GYD and E-CLP shares as collateral assets, as strategies in cross-space yield aggregation, and in DAO treasury diversification. SPIN is also available to nodes in oracle networks who launch GYD price feeds.

SPIN through the DAO2DAO/B2B program is available based on integration usage and is subject to whitelisting of new integrations.

At the time of writing, GYD E-CLPs are 75% more efficient than competitive offerings and are providing yield of over 60%. 

The Gyroscope SPIN system comes in the context of the rollout of the Gyroscope Governance system. The governance system aims to give voting power to different governance participants, including those with capital locked, those with long-standing interest in the project, as well as whitelisted experienced actors from across the DeFi ecosystem who are now eligible to claim a Councillor NFT. 

To get the first invite codes pay close attention to Gyroscope socials.

Gyroscope is a decentralized stablecoin featuring a novel all-weather stablecoin design combined with a more efficient stablecoin DEX. The initial development team of the Gyroscope protocol is FTL Labs, comprising PhDs Ariah Klages-Mundt, Lewis Gudgeon and Daniel Perez, who authored seminal papers on stablecoin design and DeFi risk, with backing led by Placeholder and Galaxy. Gyroscope’s stablecoin Gyro Dollars (GYD) was built with a novel design system to fill a critical gap in the secure scalability of stablecoins. GYD is live on Ethereum and Gyroscope’s E-CLPs are live on Ethereum, Polygon (PoS and zkEVM), Arbitrum, and Optimism. For more information, please visit https://gyro.finance/ or review the documentation.

Disclaimer. The SPIN points system is a promotional feature and should not be considered financial advice or an investment guide. Participation in this system is voluntary and at the discretion of the participants. The SPIN earned in this system are part of a promotional campaign and are not guaranteed to be converted into any form of value. It is the responsibility of each participant to understand the risks and to comply with all applicable laws and regulations in their jurisdiction. The SPIN system is not available in the United States, United Kingdom and selected other jurisdictions. See the Terms of Service for more information.