Resources
Glossary
Every term used across the Gyndore ecosystem, defined.
| Term | Definition |
|---|---|
| Base | Coinbase's Ethereum Layer 2 network. Everything Gyndore deploys lives on Base. |
| bGYND | The incentive token. Backed 1:1 by GYND, stakeable, and convertible to GYND for a small discount. |
| cbBTC | Coinbase's wrapped Bitcoin, backed 1:1 by BTC held by Coinbase. The only collateral Gyndore accepts. |
| CDP | Collateralized debt position. Deposit collateral, mint debt against it. Every gynUSD starts life this way. |
| Chips | Collectible badges on DropWave. Each Chip completed awards GynPoints. |
| Fee switch | A one-time, irreversible action that permanently hands borrow rate control and revenue rights to GYND holders. |
| GynPoints | Points earned on DropWave by collecting Chips and completing quests. |
| GYND | The utility and fee token. Stake it for a share of protocol revenue, or register it for governance. |
| gynUSD | Gyndore's synthetic stablecoin, pegged to the US dollar and minted against cbBTC. |
| LTV | Loan-to-value: debt divided by collateral value. Gyndore allows up to 90.91% on cbBTC. |
| Redemption | Swapping gynUSD for $1 of BTC value directly through the protocol. The mechanism that anchors the peg. |
| Rehypothecation | Lending out user collateral for extra yield. Gyndore never does this: collateral stays in the protocol. |
| Stability Pool | The pool of staked gynUSD that backstops liquidations and receives 70% of borrower interest. |