Gyroscope
@GyroStable
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Revolution in resilience. Stablecoin innovations that put risk control on autopilot. |
Joined December 2020
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Pinned Tweet
SPIN and Rehype pools are now live.
SPIN: earn points with GYD and LPing in E-CLPs.
Rehype pools: new most capital efficient AMM in DeFi, allowing you to triple dip with yield.
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Gyroscope was designed for a day like today
- Built-in diversification of reserve assets
- 'PSM 2.0' (DSM) adapts autonomously to maintain sustainability
- CPF oracle handles corner cases of pricing assets, incl USDC
- Resilient trading network for stablecoin liquidity
🧵👇
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Gyroscope Level 4 is live now 🚀
Let the Frog Games commence - it's bots vs frogs!
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The Gyroscope stablecoin GYD is now live.
3+ years in the making, GYD introduces fundamental stablecoin innovations that put risk control on autopilot.
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Passing a Level 4 challenge will not always be as difficult as winning a medal in the Olympic Games.
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Thrilled to announce a $4.5m raise to launch Gyroscope's resilient stablecoin system on Ethereum.
The round was led by
@placeholdervc
and
@galaxyhq
and included investment from
@Maven11Capital
@archetypevc
@robotventures
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Community update
1️⃣ Level 4 is live - more challenges will follow soon!
2️⃣ A new chance to join the DAO: Wave II of Level 3 is live as well
3️⃣ More than 8k accounts registered for the gov forum - this is great, but calls for more moderation
Community update — level 4 of the testnet game is live!
Overview of relevant developments
medium.com
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Today, Gyroscope takes a step forward on the path to mainnet.
Same community, same revolutionary stablecoin design.
But now our brand reflects our vision for the future of DeFi.✨
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Gyro Proto, a guarded version of the Gyroscope stablecoin, is now live for testing on Polygon.
It showcases groundbreaking innovations in redemption mechanisms, liquidity concentration via
@Balancer
, and risk control.
Test it out:
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Challenge VI is live! 🥳
All players should be eligible for this challenge. All you will need is your .json file from level 2.5 and access to your social accounts committed to in that file.
Read the instructions here:
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Multiple challenges will be launched over the next coming weeks 🕹️
This will give players sufficient opportunity to participate and make trade-offs between gaining as many Sybil points as possible and their wish to not disclose certain information
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Community update
1️⃣ Gyroscope is largest space
2️⃣ first governance proposal,GGWP-1, has passed (99.8%) with an amazing turnout of 6.9k voters
3️⃣ Wave 2 of Level 3 will start soon
4️⃣ Level 4, the ‘endboss’, will arrive within Nov
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Proudly unveiling the Gyroscope governance token logo, developed in large part by the Gyroscope community.
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Join
@ljfgudgeon
(Gyroscope core team) at 16:30 UTC today for a DeFi panel discussion at P2PFISY bridging industry, academia, and regulation:
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📣 Lvl 3 of the Gyrosoft All-weather Simulator is out🚀 It's live until the 1st Nov!
Level 3 will jumpstart the first DAO governance mechanism!
Read the instructions & play the game 🕹️
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GYD is launching soon. Make sure you know how Gyroscope’s DSM works 👇
🌀Why Gyroscope is a revolution?
👉Part 1
@GyroStable
revolutionizes
@MakerDAO
's Peg Stability Mechanism (PSM) to improve its resilience!
Let's discuss in detail!
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Challenge III of the Frog Games is live! 🚀
Did you previously vote on Snapshot Governance Proposals? In that case this challenge is for you!
Read more:
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Challenge IV of the Frog Games is live! 🚀
More POAP events are now eligible! Time to show off all the community calls, virtual events and DAO working groups you participated in.
Read more:
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It’s time to unveil a Gyroscope core building block: Concentrated Liquidity Pools (CLPs) for 2 and 3 assets.
2-CLPs are like Uniswap v3 but in Balancer and specialized to the most-traded range.
3-CLPs combine the innovations of multi-asset pools and concentrated liquidity.
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Challenge II of the Frog Games is live! 🚀
Did you verify an address with ? In that case this challenge is for you!
Read more:
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Join
@ljfgudgeon
(Gyroscope core team) for a DeFi panel discussion at P2PFISY, bridging industry, academia, and regulation.
It started at 4:30 UTC but is still going on.
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While DeFi has been turbulent, Gyroscope is taking off 🚀 Now at 12m TVL.
This is just from a single piece of Gyroscope - the E-CLPs.
The rest of Gyroscope will launch soon, culminating in the maximally resilient stablecoin GYD.
Gyroscope has surpassed $10m TVL 🚀
Gyroscope 30 day volume is also at a record $32.8m, 76% greater than the month before
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As part of the attempt to establish Sybil resistance, Challenge V will start very soon - at 6PM GMT - in the Discord server.
Be sure to be there on time:
🎇
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🚀 Community update 🚀
There have been several updates & developments. Read this overview to catch up with everything Gyroscope:
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Challenge VI is temporarily paused 🚧
If you didn't already pass Challenge VI, come back after the new year for the verifications to be running more smoothly 🎁
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Introducing Gyroscope's governance system.
A system that recognizes the challenges of decentralization and mitigates the risks inherent in decentralized governance.
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Gyroscope has come a long way since launching the testnet game in March ‘21.
Now that the (significantly matured ) contracts are being audited & mainnet is around the corner it is time to look back.
Review of the Gyroscope Testnet Game:
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The Gyroscope Testnet Game is now closed:
- no further action will affect your final score
- weights will still be applied to the raw Sybil scores and will be proposed and discussed soon
Get ready to become a Founding Frogger!
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E-CLPs are now live on
@arbitrum
, bringing one of the most efficient AMM types to the network.
E-CLPs have:
- Quickly grown to 17m+ TVL
- Captured large market share, often outcompeting Uni v3 & regularly receiving 80+% of 1inch volume
- Reduced LVR with automatic rate providers
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Concentrated liquidity can do it all: capital efficiency & a simple UX. Introducing Elliptic Concentrated Liquidity Pools.
Gyro E-CLPs are ideal for assets w/ externally informed price bounds, such as stablecoins & liquid staking tokens.
The first LST E-CLP is already live. 👇
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You can now claim your NFT on Ethereum and become a founding member of the Gyroscope DAO ✨🥳🎉
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Uncaught Error: Unexpected value 'Intern' imported by the module 'Twitter'
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Post-mortem on the Discord challenge, Challenge V
Tl;dr: roughly 1000 people participated; results are still being processed; next challenge with time restrictions will cater to the APAC region
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Gyroscope’s 30-day volume has grown more than 350% over the last month to 140m 🚀
Growth is set to continue with Gyroscope’s all-weather stablecoin GYD almost here.
🧵👇
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The stablecoin space is finally evolving ✨
Early 2020: USDT and USDC were the only real options, and DAI was a minor player.
2021-22: new entrants were mainly ponzi schemes that collapsed.
Fast forward to 2023: there's a wave of new innovations and safer stablecoins.
🧵👇
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Ahead of the GYD launch, Gyroscope’s UI has released several new features.
1) You can now visualize the reserve portfolio in the mint/redeem interface.
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Gyroscope has surpassed $10m TVL 🚀
Gyroscope 30 day volume is also at a record $32.8m, 76% greater than the month before
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Gyroscope TVL has surged past 25m despite not being fully launched yet.
Why? E-CLPs.
Check out this thread for an explainer on how Gyroscope's E-CLPs fit in the space of AMM pools 👇
And prepare for E-CLPs to be a driving force in the upcoming GYD launch.
🌀Why Gyroscope is a revolution?
👉Part 2
@GyroStable
has revolutionized the capital efficiency of liquidity pools!
Let's discuss in details:
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You can’t have a healthy DAO without robust Sybil resistance.
Yet too few emerging DAOs are doing enough to stop attacks.
The first of its kind in DeFi, Gyroscope’s Sybil 'Shield' offers a holistic, yet privacy aware way to protect the Gyroscope DAO.
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4⃣ To help with moderation, education, and localization, three 'working groups' will be launched
5⃣ Still have questions about Gyroscope? Read the new ELI5 explanation
6⃣ Dev update: focus on complementary AMM pools (for SAMM & reserve vaults) + oracles
Community update — level 4 of the testnet game is live!
Overview of relevant developments
medium.com
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Another Gyroscope milestone was unlocked this weekend.
In just 5 months of uncapped release, E-CLPs:
- surpassed 100m in total volume
- surpassed 20m TVL
Growth continues with the GYD launch just around the corner 👀
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GYD supply is now at 2m, two days after launch
The Gyroscope stablecoin GYD is now live.
3+ years in the making, GYD introduces fundamental stablecoin innovations that put risk control on autopilot.
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Showcasing the power behind E-CLP performance: asymmetric concentrated liquidity
The R/sDAI E-CLP is hitting its stride, showcasing the power of asymmetric concentrated liquidity.
Now doing 11x the volume of the larger stableswap pool while earning sDAI yield for LPs.
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Gyroscope's stablecoin pricing mechanism (the 'P-AMM') will be presented at
@CBRStanford
&
@initc3org
's Science of Blockchain Conference 2022.
You can listen in by joining the livestream on Aug 29 at 7:10PM UTC 👇
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Join tomorrow for the GYD launch AMA in the Gyroscope discord.
📅 6 Dec
⏲️ 4pm GMT
📍 Gyroscope discord
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Participated in our Testnet Game?
✨You can now check whether you are eligible to mint one of our unique founding DAO member NFTs. ✨
Minting will commence on Wednesday, 13 June.
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Gyroscope's wstETH E-CLP on Optimism has been performing.
In the past 30d, it achieved 21m USD volume.
And is the dominant source of liquidity for 1inch order routing, by a significant factor.
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Catch Gyroscope co-founder
@ljfgudgeon
at un-
@stable_summit
during
@EFDevconnect
Topic: Stabilisation Mechanisms, Keeping Stablecoins Stable
📅 15 Nov
⏲️ 12:20pm GMT+3
Looking forward to speaking at the un-
@stable_summit
in Istanbul next week about stablecoin stability mechanisms
@GyroStable
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Gyroscope is hiring! We’re looking for a senior smart contract engineer and a lead frontend engineer. Come and join us to build the next generation stablecoin.
Senior smart contract engineer:
Lead frontend engineer:
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Gyroscope grew 400x in 2023, from 100k TVL to 40m.
In 2023, Gyroscope shipped:
✅ Proto GYD
✅ E-CLPs on Ethereum, Polygon PoS and zkEVM, Optimism, and Arbitrum
✅ GYD on Ethereum
✅ Gyroscope's governance system
The stage is set for the next level in 2024.
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The first E-CLP on Ethereum mainnet is now live: swETH/wstETH.
Gyroscope's E-CLP is a new type of asymmetric & automated concentrated liquidity pool.
The pool launches w/ support by
@swellnetworkio
and counts towards Swell’s airdrop campaign.
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Showing the power of E-CLPs: Gyroscope's TVL and volume at all time highs today.
- 69% total utilization of the 31.8m TVL
- 172% utilization for cbETH E-CLP
- 184% utilization for wstETH E-CLP on Optimism
- 415% utilization for USDC-USDT E-CLP on Arbitrum
And GYD imminent 👀
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Join us tomorrow for an AMA w/ Swell on Gyroscope's swETH/wstETH E-CLP.
📅 Aug 29
⏲️ 13:00 UTC
📍
Our swETH/wstETH pool is the first Gyroscope E-CLP to hit mainnet!
Dive deep into this pool in our Space on Tuesday, and discover why
@GyroStable
's concentrated liquidity model is perfectly suited to the swETH/wstETH pair
📅 Aug 31
🕐 13:00 UTC
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Gyroscope pools passed a milestone this week, surpassing $3M in TVL!
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For a change something that is not related to Sybil resistance:
Lewis, a member of the Gyroscope core team, is giving a talk on DeFi tonight - sign-up in the linked form and listen in if you are interested.
Excited and honoured to be giving a talk to the Fields Institute tonight titled "DeFi: Finance 2.0?". 10pm UK time.
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The first E-CLP on
@0xPolygon
zkEVM is now live, featuring asymmetric concentrated liquidity for rETH/WETH.
This brings one of the most efficient and customizable AMM types to the network and enhances
@Rocket_Pool
rETH liquidity efficiency by 74%.
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Not only does Gyroscope aim to be an all-weather stablecoin, it also introduces more resilient liquidity across stablecoins.
This is especially important in crises where liquidity breaks down, such as in the March USDC depeg.
How does this work? Follow along here 👇
🌀Why Gyroscope is a revolution?
👉Part 4
@GyroStable
has implemented "Liquidity Resilience" in the best possible way!
Let's discuss in detail!
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Recently, the core team focused very much on getting ready for mainnet:
→ the Gyroscope codebase is now fully formed & functional
→ audits are progressing well & the first pools are almost ready to be deployed
Development highlights:
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Gyroscope is a stablecoin that puts risk control of reserve backing on autopilot.
Follow along in this thread to walk through the main ideas of the protocol.
And await the imminent GYD launch.
⏳
The $GYD stablecoin is set to launch in less than 2 days...
Let's have a quick overview of the entire
@GyroStable
protocol:
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Among several innovations, Gyroscope brings to market a new system for price oracles and circuit breakers that improves protocol resilience.
Follow along in this thread to understand how it works 👇
🌀Why gyroscope is a revolution?
👉Part 3
@GyroStable
has revolutionized price feeds by developing its exclusive price feed system called Consolidated Price Feed (CPF).
Let's discuss in detail:
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Exciting to see growing awareness of Gyroscope: Messari now features E-CLPs.
E-CLPs were designed to push the boundary of capital efficiency for assets w/ minting and redemption mechanisms, including LSTs.
But there is even more to Gyroscope. Curious?
1/
#Ethereum
underwent transformative upgrades (The Merge, Shapella) in the past year.
This led to remarkable economic developments and a skyrocketing growth of new liquid staking protocols and liquid staking tokens (LSTs).
@kunalgoel
dives in. 🧵
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Check out this video outlining how the components of Gyroscope are connected.
One clarification: p-GYD = Gyro Proto, which is the small-scale test-in-production version of Gyroscope on Polygon.
Uncapped GYD will launch shortly on Ethereum.
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Learn about Gyroscope's innovative E-CLP pool type featured on Balancer.
E-CLPs feature key benefits for unlocking better liquidity and will serve as a platform for launching Gyroscope's stablecoin GYD in the coming days.
With over $23 million TVL, elliptical and passive concentrated liquidity is on the rise.
Find out everything you need to know about
@GyroStable
's unique E-CLP AMM in the article below 👇
#BuildOnBalancer
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Gyroscope is bringing capital efficiency to wstETH on Optimism 🔥
A capped wstETH/WETH E-CLP gauge is now whitelisted by Balancer on Optimism. More info soon.
Prepped and ready to launch..?!
A new wave of gauges have been approved on Optimism.
• wETH/OP/USDC on $OP ☑️
• USDC/ERN on $OP ☑️
• OATH/wETH on $OP ☑️
• wBTC/wstETH/USDC on $OP ☑️
• wstETH/WETH on $OP ☑️
• wstETH/WETH w/ 10% cap on $OP ☑️
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Gyroscope's E-CLPs on
@Balancer
boost efficiency on several fronts.
In addition to asymmetric concentrated liquidity, E-CLPs build in rate providers.
Rate providers make yield-bearing asset pools more efficient by:
- automating liquidity management
- mitigating LVR
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Gyroscope’s E-CLPs are at their best performance so far with several pool utilisations in high double digits and up to 118% today.
Keep a close eye with the GYD launch soon adding a new focal point to an E-CLP liquidity network.
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Gyroscope received a grant from
@0xPolygonDAO
to create media assets w/
@CRE8RDAO
.
The grant was in support of launching Gyroscope's first AMMs, capped CLPs, on Polygon. This is part of an iterative roll-out, ending w/ launch on Ethereum.
Live CLPs👉
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⚡️The Testnet Game will end on Apr 20 2359 AoE ⚡️
Get yourself ready for mainnet & pass a Sybil challenge if you haven't already done so
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The first E-CLP is now live on Optimism for wstETH/WETH with
@beethoven_x
.
Gyroscope's E-CLP is a new type of asymmetric & automated concentrated liquidity pool.
This new pool launches with BAL emissions and is already integrated with
@AuraFinance
.
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Reflecting on the GYD launch: liquidity from 0 to 1
- GYD secondary markets have grown to 6m TVL
- GYD price has remained stable within a few bps of 1
- GYD already settles trades between other GYD-paired assets (!)
- GYD pools see substantial BAL incentives on Balancer
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What can Gyroscope's E-CLPs do?
Take for example the MATICX E-CLP:
- Today achieved 3.2x the utilization of the larger traditional pool.
- The E-CLP’s asymmetric liquidity unlocks greater exposure to LST yield (currently ~20% more).
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It’s time to talk about Terra.
Again. 🧵👇
The Terra UST stablecoin could collapse in a bank run effect. UST is backed by an endogenous collateral Luna. Current Luna marketcap has fallen to arguably < outstanding UST. We are now in a dangerous spiral: as users panic out of UST, this reinforces the Luna crash further.
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$278m of swaps facilitated through optimized E-CLPs, with $167m in the last month alone.
Balancer Technology hosts over $350 million in next-gen
#ve8020
governance tokenomics, over $250 million in LST pools with inbuilt LVR reduction, and has facilitated over $278m of swaps through optimized E-CLPs.
All this only scratches the surface of what the tech is capable of.
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Challenge V is also coming tomorrow - it will be the first of a series of ‘Proof of Work’ challenges, that complement the current series of ‘Proof of Past Work’ challenges.
Join us at 6PM GMT in the Discord to get more info and participate in Challenge V.
Good luck!
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No Gyroscope pools are affected by this vulnerability as confirmed by Balancer.
Balancer has received a critical vulnerability report affecting a number of V2 Pools.
Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk.
Users are advised to withdraw affected LPs immediately.
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Core team member
@ljfgudgeon
will be joining an AMA hosted on
@stader_polygon
to talk all things liquid staking tokens and concentrated liquidity.
⏰ Time: tomorrow, Aug 10 @ 12pm UTC
🗣️ Topic: LSTs and Gyro's concentrated liquidity pools
📍Location:
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The first LST E-CLP (stMATIC/wMATIC) now deploys nearly 1m TVL
Today, this pool achieved 13-22x the utilization of comparable stable pools while earning 2x the fee rate for LPs
With only 1/7 the assets, this E-CLP is achieving 3x the volume of the nearest stMATIC pool
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Two major E-CLPs are now live on Ethereum, supported by
@Balancer
with BAL incentives.
- wstETH/wETH E-CLP
- cbETH/wstETH E-CLP
These pools raise the bar for capital efficiency by up to 35%.
E-CLPs are a new type of asymmetric and automated concentrated liquidity pools.
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Exciting to see the first independent integrations for Gyroscope's concentrated liquidity pools coming in.
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New E-CLPs for GHO going live shortly, including a GYD integration 👀
These will support targeted market depth for GHO using asymmetric concentrated liquidity.
.
@GyroStable
pools are coming to $GHO Liquidity Mining on
@Balancer
and
@AuraFinance
is going to be a treat
Check the convexity of the narrow E-CLP profile, dope
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Throwback to Gyroscope founder
@aklamun
’s early work on DAI stability and the motivation for designing Gyroscope.
A reminder that even blue chip stablecoins have very real risks. While DAI survived the ensuing crisis, it was not guaranteed.
4 years ago at Devcon, I presented the possibility of deleveraging spirals happening in stablecoins.
5 months later, one happened in Dai. This was the first major test of Dai and triggered Dai’s evolution to incorporate exchangeability with USDC and RWA backing.
🧵👇
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E-CLPs are Gyroscope’s concentrated liquidity pools.
The first pool at scale demonstrates that the E-CLP *works*.
The E-CLP cuts significantly into market share of LST volume at just ~1m TVL, outcompeting pools 25x its size.
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Going live in 5 mins 🔥
Gyroscope's stablecoin pricing mechanism (the 'P-AMM') will be presented at
@CBRStanford
&
@initc3org
's Science of Blockchain Conference 2022.
You can listen in by joining the livestream on Aug 29 at 7:10PM UTC 👇
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The 1st of several community stress tests starts today!
Gyro Proto has been running smoothly, so today we will make sure a particular part of the code, the Reserve Balance Checks, is working as intended.
Thanks to our community for initiating & helping with this! ⚙️
Gyro Proto, a guarded version of the Gyroscope stablecoin, is now live for testing on Polygon.
It showcases groundbreaking innovations in redemption mechanisms, liquidity concentration via
@Balancer
, and risk control.
Test it out:
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