Tokenomics
Overview
Gyndore's tokenomics rest on one idea: real usage generates real revenue, and immutable contracts decide where it flows. No emissions schedule to prop things up, no levers to pull later.
The value engine
Value enters the system from two independent engines. The CDP protocol earns borrower interest on every gynUSD minted against cbBTC, and the DEX earns trading fees on every swap. Activity anywhere in the ecosystem accrues value back to it.
Where that revenue goes is written into immutable contracts: 70% of borrower interest flows to gynUSD stakers in the Stability Pool, with the remainder allocated across the system, including GYND staking. A one-time, irreversible fee switch hands revenue rights and borrow rate control to GYND holders in perpetuity. The full mechanics live in Fees & Revenue.
The addressable market
Bitcoin is the largest pool of capital in crypto, and most of it sits idle. It funnels toward Gyndore in stages: billions of dollars of BTC already live on EVM chains, a growing share of it reaches Base as cbBTC, and Base has no dedicated venue built to put it to work. Why Gyndore covers the gap in detail.
Every dollar of that Bitcoin that becomes collateral pays interest, every swap it makes pays fees, and both engines route value through the same immutable split.
The token system
Three tokens divide the work. gynUSD is the product, GYND is the claim on what the ecosystem earns, and bGYND is how the community share reaches users.
Around them, DropWave rewards early participation with Chips and GynPoints — and incentives across the ecosystem, DropWave included, are paid in bGYND.
Built to compound
The engines feed each other: more borrowing means more staker yield, more yield attracts more gynUSD demand, and deeper liquidity brings in more borrowers. The Flywheel walks through the full loop.