GYD, issued by the Gyroscope Protocol smart contracts under the governance of GYFI tokenholders, is a fully reserve-backed stablecoin that tracks the U.S. dollar (USD) at a 1:1 peg and is minted and redeemed on-demand against an onchain reserve. [S1][S2]

Holders receive a token targeting a long-term 100% reserve ratio, with each unit backed by approximately 1 USD of protocol-controlled collateral held in an all-weather basket composed initially mostly of other stablecoins. [S2] GYD itself is non-yield-bearing; yield is offered separately through sGYD, an ERC-4626 vault that distributes returns from reserve assets deployed into concentrated liquidity pools. [S3][S4] The protocol charges no current minting or redemption fees, with such fees referenced only as governance-enabled future levers; holders bear transaction and gas costs. [S5][S6]

FTL Labs, an exempted company incorporated in the Cayman Islands, develops the front-end software but is not the issuer; GYD is issued by smart contracts under Gyro DAO governance rather than by a single corporate entity. [S6][S1][S2] The Terms of Service position FTL Labs as a non-custodial provider of software services and an optional access point to the protocol, with no custody or control of user funds. [S6] Holders hold a mechanism-based redemption claim for 1 USD of reserve assets onchain when reserves are healthy. [S2] Services are for business use only, exclude listed jurisdictions including the USA, and require screening against OFAC, UK, and EU sanctions lists. [S6]

GYD is an ERC-20-family token with native issuance on Ethereum and bridged availability on Arbitrum via Chainlink CCIP and on Polygon zkEVM via the native bridge; sGYD is an ERC-4626 vault. [S3][S1] Minting and redemption occur on-demand through an autonomous price-bounding bonding curve with reserve safety checks, settling onchain effectively immediately per transaction. [S2][S4]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.gyro.finance/tldr.html" },
    { id: "S2", url: "https://docs.gyro.finance/gyd/" },
    { id: "S3", url: "https://docs.gyro.finance/gyroscope-protocol/sgyd-and-reserve-yield-emission/code-repositories" },
    { id: "S4", url: "https://docs.gyro.finance/gyd/how-it-works/reserve.html" },
    { id: "S5", url: "https://docs.gyro.finance/gyd/how-it-works/protocol-fees" },
    { id: "S6", url: "https://www.gyro.finance/terms-of-service/" },
  ]}
/>


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Gyroscope (Gyro Finance)

Gyroscope GYD (GYD) is a U.S. dollar stablecoin issued by Gyroscope (Gyro Finance).

Holders can mint and redeem directly with Gyroscope (Gyro Finance).

GYD has been issued on Ethereum as an ERC-20 token since November 2023, with bridged versions on six more.

Gyroscope GYDGYD

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