FAQ

Gyndore is the Bitcoin liquidity hub of Base, Coinbase's Ethereum L2. It is built exclusively around cbBTC, Coinbase's token backed 1:1 by Bitcoin and the only collateral it accepts. One place to borrow against your Bitcoin, trade it, and earn on it.

Base has growing cbBTC adoption, but nowhere built around it. General money markets price your Bitcoin against every other asset they list, so holders get worse terms than they deserve. Gyndore accepts one collateral only, and builds the borrowing, trading, and yield rails around it.

Long-term holders who want liquidity without selling their Bitcoin. Yield seekers who want returns paid out of real borrowing demand rather than token inflation. And traders and liquidity providers who want dedicated Bitcoin markets on Base.

Three things, and they compound. Borrow against your cbBTC at up to 90.91% LTV. Trade on a dedicated cbBTC DEX. Earn yield paid out of what borrowers actually pay. More borrowing means more yield, and deeper liquidity brings in more borrowers.

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Deposit cbBTC into the protocol as collateral and mint gynUSD against it. This is a CDP system: every gynUSD in circulation is minted against Bitcoin collateral held by the protocol. Repay your debt whenever you want to unlock the collateral — the full walkthrough is on Borrowing.

Up to the 90.91% maximum LTV. In practice most borrowers mint less to keep a buffer against price moves — minting half your limit leaves a comfortable margin of collateral above your debt.

There is no fixed term and no deadline. Positions stay open as long as they remain healthy; interest accrues while the debt is outstanding, and you repay at your own pace.

Never. Collateral stays with the protocol, fully backing gynUSD, and the borrower-facing rules are immutable — no governance, multisig, or upgrade can change them.

Stake gynUSD in the Stability Pool. An immutable 70/30 split sends 70% of protocol revenue to the pool, so yield is paid out of real borrowing demand, not token inflation. Details on Earning.

The system's backstop. Staked gynUSD absorbs liquidations and is compensated for it, keeping the protocol solvent while earning its stakers the largest share of revenue. See Stability.

Gyndore runs a concentrated-liquidity DEX built around cbBTC and gynUSD. Traders get dedicated Bitcoin pairs; liquidity providers earn fees that feed the same revenue engine. See Trading.

gynUSD is the dollar you mint against your Bitcoin, the liquidity you spend, trade, or earn on. It stays fully backed by collateral, and anyone can redeem it onchain for a dollar of Bitcoin. That is what holds the peg.

GYND is the protocol's fee token. Stake it to earn a share of revenue from across the system, with no lock-ups, vesting, or withdrawal delays. bGYND is how incentives get paid: for liquidity, DropWave, and airdrops. Backed 1:1 by GYND, it can be staked to earn rewards and converts to GYND at a discount whenever you like.

The only activatable change in the protocol: a one-time, irreversible switch that permanently transfers borrow-rate control and revenue rights to GYND holders. Beyond it, the rules never move. See Fees & Revenue.

No. The core protocols are immutable: no admin keys, no multisigs, no upgrades. The one-time fee switch is the single exception, and it only hands control to GYND holders. Read Trust Model.

Audit reports covering the immutable core will be published on Audits at launch, alongside verified contract addresses.

The honest list: smart-contract risk (immutability means bugs can't be patched), market volatility and liquidations, and peg risk. They are stated plainly on Risks — nothing here is financial advice.