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What is GYFI token? Building cryptocurrency based on DeFi Gyroscope
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Gyroscope is a decentralized finance (DeFi) protocol. The project creates a unique type of stablecoin that operates based on the principle of automatic adjustment to maintain stable value.
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On March 14, Gyroscope announced the TGE plan for the GYFI token. This cryptocurrency supports governance and staking within the DeFi ecosystem, marking a significant advancement for the project.
Unlike conventional stablecoins tied to a fixed asset like USD, Gyroscope utilizes an algorithmic governance mechanism and a diverse ecosystem to minimize volatility risk. The platform is developed by a team at xAI, aiming to provide sustainable financial solutions in the blockchain space.
Gyroscope combines strategies such as flexible collateral assets and reserve funds to maintain stable value amid market changes. The system allows users to participate in staking, provide liquidity, or govern through the project's own token. The platform raised a total of 4.5 million USD from investment funds such as Galaxy, Placeholder Ventures...
Tokenomics
Token name: Gyroscope
Symbol: GYFI
Contract:
Ethereum (mainnet): 0x70c4430f9d98b4184a4ef3e44ce10c320a8b7383
Base: 0xc63529297dE076eB15fcbE873AE9136E446cFbB9
Total supply: 13,700,000 GYFI
