Gemini dollar

GUSD

GUSD on Ethereum is backed 1:1 by USD reserves held with Gemini's partner banks.

Risk Rating
Watch Out
$0.99
-0.71%
Summary
What we like
Provides easy on-ramp and off-ramp to convert your USD into digital dollars that is backed 1:1 by underlying reserves on Gemini.
What we like less
Gemini custodies the deposited USD and controls the minting and redemption of GUSD. Open to censorship as Gemini can blacklist any GUSD address at will.
What it means for you
GUSD is a liquid instrument to hedge your portfolio in volatile market conditions and also an easy way to put USD to work for you in DeFi.
Information
Blockchain
  • Ethereum
Key Metrics
  • Market Cap: $117.5M
  • Fully Diluted Valluation: $117.5M
  • FDV / MC: 1
  • Ranking inside Exponential (among stables): #13
  • Circulating Supply: 117,905,187
  • Total Supply: 117,905,187
  • Volume (24H): $2M
  • ATH: $3.30 (10/11/2018)
  • ATL: $0.78 (09/29/2018)
Risk Assessment
Watch Out
Asset Strength

GUSD is a low-cap, fully collateralized asset. This asset depends on a centralized entity for custody services.

GUSD is a stablecoin that trades within 50bps of its peg to USD, which makes it a less volatile store of value.

Asset Tokenomics

GUSD has an uncapped supply but has inflation control or burn mechanisms in place. GUSD on Ethereum is backed 1:1 by USD reserves held with Gemini`s partner banks.

Asset Volatility

GUSD is a stablecoin that trades within 50bps of its peg to USD, which makes it a less volatile store of value.

Dependencies

Gemini dollar has no dependencies.

Things to know about GUSD

Who invented GUSD?

GUSD launched in September 2018 by crypto exchange Gemini. Customers on Gemini with USD can exchange 1 GUSD for 1 USD and vice versa. GUSD is issued solely by Gemini.

How does GUSD work?

GUSD are backed 1:1 by USD reserves held with a licensed custodian (Gemini Trust Company). The process of minting GUSD tokens involves interacting with Gemini which manages the minting and burning of GUSD. This is done when Gemini deposits US dollars into the reserve. The newly minted GUSD tokens are then sent to the customer's wallet. The process for redeeming GUSD for USD is just the reverse process.

How secure is GUSD?

GUSD is a centralized stablecoin that is perceived as safer and more transparent than USDT as its reserve composition only consists of cash and short-term U.S. government bonds. GUSD regularly undergoes audits and publishes monthly reserve reports and attestations that prove the amount of USD reserves is equal or greater than the amount of GUSD in circulation. Nonetheless, GUSD has the ability to "blacklist" any of its associated addresses at will. When a GUSD address is blacklisted, it can no longer receive GUSD and all of the GUSD controlled by the address can no longer be transferred on-chain.