Disclaimer

Informational only

Everything in this documentation is general information. It is not investment, financial, trading, legal, accounting, or tax advice, and it is not a recommendation, solicitation, or offer to buy or sell any token or to use any product. The mechanics described here explain how the software is built to behave; they are not a promise of future performance, of any rate of return, or of any particular outcome. Whether Gyndore is appropriate for you is your decision alone, and you should consult your own qualified professionals before acting.

Gyndore is a set of autonomous smart contracts and interfaces. It is not a bank, broker, exchange, custodian, or lender. No company holds your assets or owes you a fiduciary duty, no one can reverse a transaction, restore access to a wallet, or make you whole if something goes wrong, and no deposit protection or investor compensation scheme covers what you do onchain.

No warranties, and pre-launch

The protocol, the app, and these docs are provided "as is" and "as available," without warranties of any kind, express or implied. No guarantee is made that the software is secure, error-free, uninterrupted, or fit for any particular purpose.

Much of Gyndore is still pre-launch, and that changes what you are looking at. GYND and bGYND addresses are already on Contracts; the rest of the protocol addresses are published at launch. No audit report has been published yet, so until one exists you should treat the code as unaudited in public and size any involvement accordingly.

These docs describe the full intended design, including parts that are not live, and details can change before and after launch. Anything written here about how the protocol will behave is forward-looking and is not a commitment. Where a feature has not shipped, read its description as a plan rather than as a product you can rely on.

Smart contract and immutability risk

Every onchain protocol carries smart contract risk: code can contain bugs, and onchain code runs exactly as written. Gyndore keeps that risk contained by keeping the custom surface small and building on code already proven at scale. The trading layer is built on Uniswap V3's concentrated-liquidity contracts, among the most battle-tested in DeFi, and simplicity is treated as a security property: fewer moving parts, a smaller attack surface, and a frontend built to keep everyday interactions safe.

None of this makes software risk-free. The code is open source and is being audited ahead of mainnet, but an audit reduces risk, it does not remove it: reviewers work to a defined scope, on one version of the code, in a fixed window, and a clean report means nobody found a problem in what they looked at.

Immutability cuts both ways. The stablecoin protocol and the DEX ship with no admin key, no multisig, and no upgrade path, so the rules can never drift against you; equally, no one can pause the system, reverse a transaction, or patch a defect once it is deployed. That is the deliberate trade for trust-minimization, and it means a bug in an immutable contract could lead to a permanent, unrecoverable loss of funds, with no recovery, no compensation, and no one to appeal to.

Liquidation risk

Borrowing against cbBTC is a leveraged position. If the value of your collateral falls relative to the gynUSD you have minted, your position can be liquidated to keep the system solvent, and you can lose part or all of your collateral.

Liquidations are automatic. They run in any market condition, without notice, without a margin call, and without a grace period, and no one can pause or delay them on your behalf. Borrowing is capital-efficient, so a position opened near the limit sits close to its liquidation point and a modest move in the price of Bitcoin can be enough to trigger one. Rapid price moves, network congestion, and a stale or unavailable oracle can each make a liquidation faster or more severe than you expect. Borrow well inside the limit, keep a buffer you could add to at short notice, and monitor the position for as long as it is open.

Stablecoin and peg risk

gynUSD is a synthetic stablecoin, not a deposit and not a claim on dollars held anywhere. Its peg to the US dollar is held by overcollateralization, redemptions, and arbitrage rather than by a guarantee, and no issuer stands behind it ready to buy it back at a dollar. It can trade below or above a dollar, and nothing promises that it returns to peg.

Because every gynUSD is minted against cbBTC, the peg is only ever as sound as that collateral and the machinery around it. In stressed conditions, redemptions, liquidations, and thin liquidity can interact in ways that move the peg or make exiting more expensive than you planned for. Holding, staking, or accepting gynUSD carries the risk that it does not hold its value.

Collateral and cbBTC risk

Gyndore accepts a single collateral: cbBTC, Coinbase's Bitcoin-backed token. That wrapper carries issuer and custody risk that sits entirely outside the protocol. cbBTC depends on Coinbase holding the underlying Bitcoin and honoring redemptions, and on the token's own contracts. If cbBTC were to lose its backing, be frozen, or depeg from Bitcoin, every position and market that relies on it would be affected at once.

There is no diversification to fall back on and no way to add any. One collateral means one point of failure, and because the collateral rules are immutable, the protocol cannot switch assets, accept a substitute wrapper, or intervene if this one fails. Gyndore's rules are fixed, but the assets it holds are not immune to risks at their source.

Market and volatility risk

Crypto assets are volatile. The tokens and assets you hold, trade, or provide as liquidity on Gyndore can move sharply in price, and you can lose value quickly and without warning. Nothing in the protocol dampens that exposure.

Providing liquidity carries its own market risk on top. When the two sides of a pair move apart in price, liquidity providers can face impermanent loss and end up worse off than simply holding. Concentrated liquidity sharpens the effect: a position earns fees only while the price trades inside the range you chose, and once price leaves that range the position stops earning and sits entirely in one side of the pair until price comes back, which it may not. Size positions with volatility in mind, and never assume past conditions will continue.

Liquidity risk

Liquidity is not guaranteed. Trading and exiting depend on the depth of the relevant market at that moment, and thin liquidity means more slippage on the way in and out, or an inability to exit at the size or price you want. Depth can disappear exactly when you need it, in the fast moves that make you want to exit.

The same is true of rewards. Staking rewards are paid out of real protocol revenue — the protocol's 20% cut of swap fees and a portion of borrowing interest — rather than out of fixed emissions, which is the healthier design, but it also means they rise and fall with activity and can be small or nothing at all. No rate is promised, and no past rate carries forward.

GYND and bGYND

GYND and bGYND are utility and incentive tokens, not investments, shares, or a claim on any company or its assets. Supply is fixed at 10,000,000 GYND, and a fixed supply says nothing about price: it can fall to zero. Staking is not a promise of profit or income, rewards depend entirely on real protocol usage and can be absent, and staking carries no governance rights, so holding GYND gives you no vote and no say in anything.

bGYND is bonded, and unbonding is not a free conversion. Each bGYND is backed 1:1 by GYND, but an unbonding request requires a USDC payment equal to 70% of GYND's market value. The submitted bGYND is burned, the GYND is claimable after 24 hours, and new requests are blocked while GYND trades at or below $0.10. Price can move during the cooldown, so the 30% difference at submission is not a guaranteed realized return.

Acquiring or holding any token is entirely at your own risk and subject to the laws of your jurisdiction, and some tokens may not be available to you where you live.

Network, oracle, and interface risk

Gyndore runs on Base, an Ethereum layer 2, and inherits its properties. Sequencer downtime, congestion, or a reorganization can delay or disrupt transactions, including the ones that matter most in a fast market, such as adding collateral or repaying before a liquidation. The protocol relies on price oracles, and a delayed, manipulated, or unavailable feed can cause mispricing, failed transactions, or unexpected liquidations. Onchain transactions are irreversible once confirmed, and like any public blockchain, trades can be exposed to front-running and unfavorable transaction ordering (MEV).

The app you interact with is a frontend, and a frontend can go down, show stale data, or be impersonated by a phishing clone. Confirm you are on the official app, verify contract addresses before signing, and read what a transaction actually does rather than what the page around it says. Never enter your seed phrase or private keys into any site.

Third-party dependencies

Gyndore builds on infrastructure it does not control: Base, cbBTC and Coinbase, Uniswap, Hydrex, oracle providers including Chainlink, vesting through Sablier, and the wallets and RPC providers you use to connect. A failure, exploit, outage, or change of terms at any of them can affect Gyndore even when its own contracts work exactly as written, and because the core is immutable, Gyndore cannot patch around a dependency that breaks. Depending on the protocol means depending, in part, on everything it is built on.

Legal, regulatory, and tax

The legal and regulatory treatment of DeFi, stablecoins, tokens, and onchain trading is still evolving and differs by jurisdiction. Rules can change in ways that affect how, or whether, you can use the protocol, and some products or features may not be available to you. Access may be restricted where you live, and determining whether your use is lawful is your responsibility, not the protocol's.

Compliance, reporting, and taxes are yours to handle. Onchain activity can create taxable events, including ones that are not obvious, and how they are treated depends on your jurisdiction and your circumstances. Nothing here is legal or tax advice; consult your own advisors.

Your responsibility

Self-custody means you are your own security. You are responsible for your wallet, your keys, and every transaction you sign. Lost keys, malicious approvals you signed, mistaken addresses, and phishing are not reversible, and no one can recover funds on your behalf: there is no admin, no account to restore, and no support desk with a database to edit.

In practice that means understanding what you are signing before you sign it, revoking approvals you no longer need, verifying addresses yourself rather than trusting a link, and starting small enough that a mistake costs you a lesson instead of everything. Risk only what you can afford to lose in full.

Not financial advice. Nothing in these docs is investment, legal, or tax advice. Understand the system, size positions conservatively, and never deposit more than you can afford to lose. For the full legal terms, see the Terms of Use.