Over the past months, growing support for the Gemini dollar (GUSD) by Decentralized Finance (DeFi) projects and platforms has led to a surge in its market cap to more than $100 million.
As individual investors and financial institutions enter the DeFi ecosystem, they will seek a safe and reliable bridge between centralized finance and this new financial frontier — the Gemini dollar is that bridge.
Below is a snapshot of platforms that support GUSD.
Decentralized Exchanges (DEXs) provide cryptocurrency traders with access to a variety of trading pairs, some of which might not be widely available. GUSD trading pools are supported by the following DEXs: Balancer, Curve, Uniswap
DeFi Lending platforms provide permissionless loans without a central authority underwriting transactions. Crypto holders can stake their coins to lend and receive a yield generated from the interest paid by borrowers. GUSD holders can stake on the following lending platforms: Aave, Maker
Aggregators in the DeFi space provide solutions for traders looking to find the best prices across DEXs, or develop algorithmic investment strategies across platforms. GUSD is supported by the following DeFi aggregators: Yearn Finance, Matcha, 1 Inch
DeFi Insurance Funds have increased in prominence, providing decentralized insurance products. GUSD is supported on: DerivaDex Insurance Fund
DeFi Portfolio Managers help users manage their finances across the DeFi ecosystem. GUSD is supported by the following DeFi portfolio managers: Zapper, Zerion, Argent Wallet
The Gemini dollar is an ERC20 stablecoin built on the Ethereum Network that combines the creditworthiness and price stability of the U.S. dollar with our deep commitment to regulatory compliance. The funds backing GUSD are held with State Street Bank and Trust, the largest financial custodian in the world. Each month, the U.S. dollar deposit balance is examined by BPM LLP, an independent registered public accounting firm, to verify the 1:1 peg. All examinations are readily posted for open review on our website.
As we continue on our mission to empower the individual through crypto, we are excited about the promise of DeFi and the greater choice, independence, and opportunity that it can provide.
Onward and Upward!