sGYD, issued by the Gyroscope Protocol smart contracts under the governance of the Gyro DAO and its GYFI tokenholders, is a tokenized yield-bearing vault share representing a proportional, yield-accruing claim on staked GYD reserve assets. [S1][S2]

sGYD wraps GYD, Gyroscope's fully reserve-backed stablecoin, into a staked vault that distributes yield generated by deploying GYD reserve assets into Gyroscope's own concentrated liquidity pools. [S3][S2] Yield sources include trading fees from reserve assets deployed to AMM and concentrated liquidity pools, optional protocol fees, and new-issuance proceeds flowing to the reserve. [S3] Value accrues through the ERC-4626 share-price mechanism rather than rebasing. [S2] FTL Labs charges no fees for use of the services, and tokenholders bear only transaction costs. [S4]

The protocol software is provided by FTL Labs, an exempted company incorporated in the Cayman Islands, which the Terms of Service describe as a non-custodial provider of software services operating a non-exclusive and optional access point to the Gyroscope Protocol. [S4] GYD and sGYD are issued by smart contracts under Gyro DAO governance rather than by a single corporate issuing entity. [S5][S1] The services are for business use only; excluded jurisdictions include the USA, and users must not appear on OFAC, UK, or EU sanctions lists. [S4] Underlying GYD is redeemable onchain for one U.S. dollar (USD) of reserve assets when reserves are healthy. [S5]

sGYD is an ERC-4626 tokenized vault and GYD is an ERC-20 stablecoin, with native issuance on Ethereum and bridged availability on Arbitrum via Chainlink CCIP and Polygon zkEVM via its native bridge. [S1][S2] GYD mints and redeems on-demand against the onchain reserve using an autonomous price-bounding bonding curve, settling onchain effectively immediately per transaction. [S5]

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


Tokenized funds

website

twitter

discord

github

Stablecoin issuers

Gyroscope (Gyro Finance)

Gyroscope sGYD (sGYD) is a tokenized fund share issued by Gyroscope (Gyro Finance).

The fund is open-ended, invests in crypto assets, and locks up subscriptions for 0 months.

Investors can subscribe and redeem in GYD, and holders have a right to redeem at net asset value.

sGYD has been issued on public blockchains since July 2024 and is native to Ethereum, Arbitrum One, Polygon, Avalanche, and OP Mainnet.

Gyroscope sGYDsGYD

All metrics