Overview

Our philosophy

Most token models run on emissions: print a token, hand it out, and hope demand keeps up. Gyndore does not. Borrow, trade, and earn all feed revenue into the protocol, and that revenue is funnelled in USDC to GYND and bGYND stakers. Holders of either token share the same claim on what the hub earns, and nothing is funded by inflating supply. Collecting your share is deliberately plain: stake, start earning, and claim whenever you want, with no lock-ups, no vesting, and nothing to vote on.

Paying that out is also meant to make the protocol stronger rather than thinner. Incentives are issued as bGYND, and converting them into GYND leaves assets behind as owned liquidity and buybacks instead of sell pressure. Those routes are fixed in the design: the core is immutable, so no admin, no multisig, and no vote can redirect them later.

Where revenue comes from

The trading component, the borrowing component, and staking all feed revenue into the same model. Swaps on the DEX generate trading activity. Borrowing against cbBTC puts the protocol's assets to work. Staking is how GYND and bGYND holders collect their share, paid in USDC.

The point here is the loop, not the percentages. More use of the hub means more revenue through the model, and holders of either token share that claim. Fees & Revenue has the mechanics.

Bonded tokenomics

Community rewards are distributed as bGYND, not liquid GYND. Every bGYND is backed 1:1 by GYND held in the bonding contract and stakes for the same USDC rewards on the same terms. The difference is the exit: converting bGYND is a purchase, not a free claim, and that captured capital funds protocol-owned liquidity and GYND buybacks.

In short: incentives attract liquidity, conversions leave assets behind, and deeper owned pools feed the same fee engine that pays stakers. Bonded Model goes through the charts, the unbonding cycle, and the Growth / Balance / Defence buyback modes in full.

Built to compound

The pieces feed each other. More borrowing, more trading, and more staking all send more activity through the hub, and that activity is what pays GYND and bGYND stakers in USDC. Each conversion adds owned liquidity underneath all of it, and nothing in that loop depends on a decision made later. The routes are written into contracts with no admin key and no upgrade path, so the only real variable is how much the protocol gets used. The Big Picture walks through the full loop, Bonded Model shows how incentives close it, and everything on this page describes what the contracts do, not what a token will be worth. For what can go wrong, read the Disclaimer.