Gemini Dollar

What is Gemini Dollar (GUSD)?

Regulated and issued by Gemini Trust Company, GUSD is a stablecoin fully redeemable for one dollar from the U.S. dollar, providing a secure and reliable means of exchange in transactions, trading, and decentralized finance. Fully backed by U.S. dollars held in FDIC-insured accounts, it is 100% supported and subject to supervision by the New York Department of Financial Services.

What Problem Does Gemini Dollar (GUSD) Solve?

GUSD Addresses:

• Volatility: Brings stability in an unstable cryptocurrency market and maintains a 1:1 peg with the U.S. dollar.
• Regulation and Trust: This means GUSD is a transparent, secure stablecoin that helps its users avoid other unregulated stablecoins' risks.
• Fiat Gateway: It acts as a conduit between the traditional fiat world and the cryptocurrency ecosystem, enabling seamless flow between them.

Why Would the Crypto Market Need Gemini Dollar (GUSD)

Some of the benefits for the crypto market in GUSD are:

• Stability: GUSD is price-stable so, it can be readily used in for trading, DeFi, and everyday transactions.
• Regulation: As the company claims, it provides confidence to the users because it is wholly backed and regulated by NYDFS, hence transparent and under the watch.
• Interoperability: GUSD interoperates with different blockchain platforms, leaving freedom of choice to the traders and DeFi users.

History & Achievements

Gemini Dollar went live in September 2018, brought forward by Gemini, a United States-based cryptocurrency exchange founded by the Winklevoss twins. It was one of the first regulated stablecoins on the market and has since seen widespread integration across trading platforms and DeFi protocols.

Who Is The Founder of Gemini Dollar (GUSD)?

It was created by Cameron and Tyler Winklevoss, the founders of the Gemini exchange. It is issued and managed by Gemini Trust Company, which operates under regulatory oversight from the NYDFS.

What Kind of Technology Does Gemini Dollar (GUSD) Use and How Does it Work?

Gemini Dollar Uses:

• Ethereum Blockchain: GUSD is an ERC-20 token, which implies it is compatible with Decentralized Applications and platforms based on the Ethereum protocol.
• Smart Contracts: The smart contract issuing and redeeming GUSD is also regularly audited for its security and transparency.
• 1:1 USD Peg: GUSD is backed 100% with U.S. dollars, meaning for every GUSD token, there is a U.S. dollar.

What Affects the Price of Gemini Dollar (GUSD)?

Factors that affect GUSD price:

• Trust in the Peg: Confidence in the 1:1 peg between GUSD and USD, guaranteed by Gemini's reserves.
• Market Sentiment: Broader trends in the cryptocurrency market as well as sentiment can take a toll.
• Regulatory Developments: A change in regulations around stablecoin can have an impact on demand and adoption of GUSD.

What is the Circulating Supply of Gemini Dollar (GUSD)?

The current supply of GUSD is 94,518,926 tokens.

Maximum Supply of Gemini Dollar (GUSD)

There is no fixed maximum supply for GUSD. Its supply adjusts based on the deposit and withdrawal of U.S. dollars on the Gemini platform.

What is the Utility of Gemini Dollar (GUSD)

GUSD tokens serve:

• Transactions: GUSD grants a stable medium of exchange to make trading, payments, and remittances.
• DeFi: GUSD can be used as collateral in decentralized finance platforms for lending, borrowing, and yield farming with stability.
• Trading Pairs: It is a base currency on most cryptocurrency exchanges.

Tokenomics of Gemini Dollar (GUSD)

The tokenomics of the Gemini Dollar include:

• Fiat-Backed: Each GUSD token is pegged to the same equivalent in U.S. dollars in reserves; hence, it's assuredly stable and liquid.
• Adjustable Supply: The supply of GUSD changes in response to demand; new GUSD is minted while old GUSD is burnt.

What is the All-Time High and All-Time Low for Gemini Dollar (GUSD)?

• All-Time High: $3.30 on October 11, 2018
• All-Time Low: $0.7826 on September 29, 2018

Where to Buy Gemini Dollar (GUSD)?

You can purchase GUSD tokens on the following best cryptocurrency exchanges:

• Gemini
• Uniswap
• Binance
• Coinbase

Who Were the Early Backers of Gemini Dollar (GUSD)?

Gemini Dollar was developed and issued by Gemini Trust Company without having raised traditional venture capital funding or engaging in early-stage investments.

What Are the Revenue Streams of Gemini Dollar (GUSD)?

The Gemini business lines that have revenue models connected to GUSD include:

• Transaction Fees: From users trading and transferring GUSD on the Gemini platform and at other exchanges.
• Interest on Reserves: Gemini may earn interest on the U.S. dollar reserves backing GUSD.