FAQ
Short answers to the most common questions.
General
Gyndore is the Bitcoin liquidity hub of Base, Coinbase's Ethereum L2. It is built exclusively around cbBTC, Coinbase's token backed 1:1 by Bitcoin and the only collateral it accepts. One place to borrow against your Bitcoin, trade it, and earn on it.
Base has growing cbBTC adoption, but nowhere built around it. General money markets price your Bitcoin against every other asset they list, so holders get worse terms than they deserve. Gyndore accepts one collateral only, and builds the borrowing, trading, and yield rails around it.
Borrowers who want dollars without selling their Bitcoin, traders and liquidity providers who want dedicated Bitcoin markets on Base, and yield seekers who want returns paid out of real borrowing demand rather than token inflation. You can use one part without the others.
The full protocol connects three things: borrowing against cbBTC, trading through a dedicated concentrated-liquidity DEX, and earning yield paid by real activity.
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Borrowing
Deposit cbBTC into the protocol as collateral and mint gynUSD against it. This is a CDP system: every gynUSD in circulation is minted against Bitcoin collateral held by the protocol. Repay your debt whenever you want to unlock the collateral; the full walkthrough is on Borrowing.
As much as the protocol's high capital efficiency allows. In practice most borrowers mint less to keep a buffer against price moves.
There is no fixed term and no deadline. Positions stay open as long as they remain healthy; interest accrues while the debt is outstanding, and you repay at your own pace.
Never. Collateral stays with the protocol, fully backing gynUSD, and the borrower-facing rules are immutable: no governance, multisig, or upgrade can change them.
Earning & trading
Deposit gynUSD on the earning side. Yield is paid out of real borrowing demand, not token inflation. Details on Earning.
Borrower interest pays people who deposit to earn, and a portion also goes to GYND and bGYND stakers. Borrowing demand sets the yield; nothing is printed to fund it. See Earning.
Gyndore runs a concentrated-liquidity DEX built around cbBTC and gynUSD. Traders get dedicated Bitcoin pairs; liquidity providers earn fees that feed the same revenue engine. See Trading.
Tokens
GYND — the protocol's fee token. Stake it to earn a share of protocol revenue in USDC, including trading fees and a portion of borrowing interest, with no lock-ups, vesting, or withdrawal delays.
bGYND — the bonded incentive token, backed 1:1 by GYND. It can be staked for the same rewards. To unbond, the holder pays 70% of GYND's market value in USDC, burns the bGYND, waits 24 hours, and then claims GYND at a 1:1 token ratio. Requests are accepted only while GYND trades above $0.10.
DropWave was Gyndore's completed participation campaign on Base. Participants collected Chips, earned GynPoints, and built a leaderboard position. See DropWave.
Security
No. The core protocols are immutable: no admin keys, no multisigs, and no upgrades. Read Audits.
The honest list: smart-contract risk (immutability means bugs can't be patched), market volatility and liquidations, and peg risk. They are stated plainly in the Disclaimer. Nothing here is financial advice.