ChainCatcher news, according to CoinDesk, the stablecoin project Gyrscope has launched a new liquidity pool "Rehype," where users can earn returns through trading, asset re-staking, and loyalty points. Gyroscope's loyalty points "SPIN Program" are set up for future governance token allocation.It is reported that Gyrscope's stablecoin product is named GYD, which aims to maintain a peg to the US dollar by holding other stablecoins.

ChainCatcher news, according to CoinDesk, Gyroscope's "all-weather" stablecoin gyro dollar (GYD) has launched on the Ethereum (ETH) mainnet. The team stated, "GYD is a means to guard against the risks of holding stablecoins, allowing risk management to be on autopilot."Gyroscope claims to be an alternative to centralized and algorithmic stablecoin designs, promising to protect holders from any decoupling events. As a decentralized, non-custodial stablecoin, GYD is fully backed by reserve assets and employs an algorithmic mechanism to peg its price at 1 dollar.