Our mission is to build robust public infrastructure for decentralized finance (“DeFi”). The term decentralized finance or DeFi refers to financial services without third party intermediaries and using public blockchains. An example of DeFi is Ethereum. DeFi allows for transactions, products and services that banks offer, including payment of interest, borrowing, lending, insurance, trading of derivatives and other assets, through a secure peer-to-peer system open to everyone over the Internet. One advantage of DeFi is that it’s faster than traditional banking services and doesn’t require paperwork or a third party intermediary. Our DeFi blockchain infrastructure is GYROSCOPE™ or GYRO™ for short.
The central piece of GYROSCOPE™ is a fully-backed stablecoin. A stablecoin is a cryptocurrency backed by reserve assets intended to offer price stability and diversify risks.
The GYRO™ protocol creates a stablecoin with all-weather reserves and algorithmic price bounding. It has as an all-weather reserve because it is collateralized by a basket of protocol-controlled assets. The reserve aims to diversify risks in DeFi generally, including price risk, censorship, regulatory, counterparty, oracle and governance risks. GYRO™ targets a long-term reserve ratio of 100% - each unit of stablecoin being backed by 1 USD worth of collateral, reserve assets. Initially the stablecoin will be backed by other stablecoins.
The stablecoin is unique for its algorithmic price bounding. Prices for minting and redeeming the stablecoin are set algorithmically to balance the goal of maintaining a tight peg to the reserve assets with the goal of long-term viability of the stablecoin in the face of short-term crises.
The GYRO™ protocol is controlled by GYFI™ token holders, who get pro rata decision making power over the strategy and general governance of the GYRO™ protocol.
The DeFi services offered through GYROSCOPE™ and for use of the stablecoin include:
- Blockchain based payment processing and verification services for the stablecoin and other digital currencies and tokens;
- Electronic transfer of the stablecoin, other digital currencies, tokens and financial instruments;
- Clearing and reconciling financial transactions;
- Blockchain-based payment processing and verification services with smart contracts, self-executing code is used to process and manage financial and other transactions that occur on the blockchain;
- Issuance and management of the stablecoin, other digital currency, virtual tokens, virtual token payment processing;
- Trading and exchange services for the stablecoin, other digital currency, virtual tokens, commodities, financial derivatives, interest rate products, and equities;
- Real-time currency trading;
- Monetary exchange services, exchanging cash of others for digitized assets, namely, bitcoin, ethereum, cryptocurrency, digital tokens, collateral for derivatives, derivative contracts, virtual currency, and digital currency;
Users typically access DeFi through use of both downloadable and temporary non-downloadable software called decentralized applications (“dapps”), most of which currently run on the Ethereum blockchain, for creating, managing, executing and enforcing contracts using a distributed ledger and blockchain technology. The use of the stablecoin, GYFI™, and all of the transaction and financial services available from GYROSCOPE™ are accessible through GYROSCOPE™ dapps.
Learn more about GYROSCOPE™, GYRO™, and GYFI™ here.
Participate in our ongoing beta test.