Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Protocol announced with whitepaper published; website live with core metrics showing 'Soon'. Claims audit-first approach but no specific auditor or report confirmed. Two launch configurations planned: bootstrapping (team admin key for borrow rate, transitioning via one-time fee switch to GYND governance) or GYND-from-day-one.
Gyndore (gynUSD) Pre-launch Stablecoin Tracker
gynUSD
At a Glance
- Backing
- Crypto-Collateralized
- Governance
- Decentralized (DeFi)
- Peg Currency
- US Dollar
- Yield-Bearing
- Yes
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Gyndore announced — whitepaper published
Bitcoin-backed CDP stablecoin protocol on Base announced by Ayeteasea, with whitepaper and website going live.
SourceBTC Liquidity Without the Middleman
gynUSD is a pre-launch CDP stablecoin built around a single, blunt proposition: cbBTC is the only collateral. By focusing exclusively on Bitcoin through Coinbase's wrapper, Gyndore sidesteps the generalized risk models that force multi-asset lending markets into conservative LTV ratios — and then passes the capital efficiency benefit directly to borrowers, with a 110% minimum collateralization ratio enabling up to 90.91% LTV. Seventy percent of borrow fees flow to Stability Pool depositors, removing the idle-liquidity drag that burdens pool-based lending markets. The governance story has two possible endings depending on launch conditions: the protocol can either start with a bootstrapping admin key and transition to GYND token governance once the fee switch triggers, or mint GYND from day one if pre-launch capital formation is sufficient. The Pareto Controller constrains GYND voters to ±10bps rate adjustments and requires 80% consensus — governance that behaves more like a thermostat than a parliament. The cbBTC dependency is the structural asterisk: Coinbase custody sits at the base of every loan, so the trust-minimized pitch has a ceiling.
Updated
Links
Related Stablecoins
Active stablecoins with similar governance, backing, or peg currency.
