Unleash
Power Of LSD
The Stablecoin Backed by LST
How Gliese Works
STEP 1 - Deposit
Deposit stEvmos as collateral.
STEP 2 - Mint gUSD
Mint/Borrow gUSD against your collateral.
STEP 3 - Hold or Spend
Hold gUSD to use it in other Defi protocols.
Gliese DAO
Gliese DAO serves as the backbone of Gliese Finance's decision-making process.
The Gliese DAO will be governed by GLSE token holders who will have the power to influence the direction of the project, propose and vote on various decisions, and collectively manage the protocol. This community-driven approach helps ensure that the Gliese Finance project remains true to its decentralized nature and that its development is in line with the interests of its users.
Mint gUSD and earn GLSE token
Stake GLSE and share protocol revenue
Hold gUSD and receive yield
Frequently Asked Questions
1. How is gUSD 1:1 hard pegged to 1 USD?
When gUSD price above 1 USD: If the gUSD price exceeds 1 USD, users can mint new gUSD by depositing stEvmos as collateral and then sell the newly minted gUSD on DEX. As more gUSD is sold, the market supply increases, pushing the price back down to 1 USD. Users can then buy back gUSD at a lower price or use it to repay their loans, realizing a profit from the price difference. When gUSD price below 1 USD: If the gUSD price falls below 1 USD, users can purchase gUSD at a discounted rate on the market and then redeem it within the Gliese Protocol for $1 worth of stEvmos. As users buy up the undervalued gUSD, demand increases, driving the price back up to 1 USD. Users can either hold the redeemed stEvmos or sell it, profiting from the price difference.
2. How can I mint (borrow) with Gliese?
To mint (borrow) gUSD, you must deposit a certain amount of collateral (stEvmos) through Gliese. Then you can mint gUSD against your collateral up to a collateral ratio of -%.
3. Where does the interest on gUSD come from?
The interest on gUSD comes from the Gliese Protocol's interaction with stEvmos and Liquidity Staking Derivatives (LSD). When users deposit stEvmos as collateral, it is converted to stEvmos through the Gliese Protocol. The stEvmos earns yield from staking on the Evmos network, and this yield is further boosted by interacting with LSD.The earned yield is then converted back into gUSD on a regular basis through decentralized exchanges (DEXs). As a result, gUSD holders receive a stable interest, with the base APY being around -%. This interest is generated from the yield earned on the stEvmos and LSD mechanisms within the Gliese Protocol.
4. Does Gliese charge any fees?
There are no minting fees or borrowing interest on Gliese Protocol.
5. How can I earn money using Gliese?
There are four different ways to generate revenue using Gliese:
Deposit stEvmos and mint gUSD to earn yield in gUSD and rewards in GLSE.
Provide gUSD/stEvmos LP to earn GLSE.
Hold GLSE to share Gliese Protocol revenue.
Become a Liquidator or Liquidation Keeper to earn stEvmos.
6. It seems the gUSD yield is lower than stEvmos. Why would I put my stEvmos on to Gliese, instead of other LSD protocols?
While it's true that gUSD yield might be lower than stEvmos or other LSD protocols, there are several reasons why someone might choose to deposit their stEvmos into Gliese Finance:
1. Interest-bearing stablecoin: By depositing stEvmos into Gliese, users can mint gUSD, an interest-bearing stablecoin, which allows them to earn a stable income on their holdings. This can be particularly attractive for those who want to reduce exposure to the volatile nature of the cryptocurrency market while still earning a passive income.
2. Leveraged long on stEvmos: Gliese Finance allows users to deposit stEvmos as collateral and mint gUSD without any borrowing fees or interest. Users can use the minted gUSD to purchase more stEvmos, effectively going leveraged long on stEvmos with zero cost. This strategy can be beneficial in a bullish market, as it allows users to potentially increase their returns while maintaining exposure to stEvmos.
3. Decentralization and stability: Gliese Finance accepts only stEvmos as collateral, making it more decentralized and stable compared to other stablecoin platforms that accept multiple types of collateral. This can be an important factor for users who prioritize decentralization and the long-term stability of the platform.
4. Token incentives: Gliese Finance offers additional incentives in the form of GLSE tokens for users who deposit stEvmos and mint gUSD. These tokens can be earned as rewards, giving users an extra layer of income generation beyond the stable interest offered by gUSD. GLSE tokens also grant holders governance rights, allowing them to participate in the decision-making process within the Gliese DAO. This can be appealing for users who want to actively engage in the platform's development and growth while also benefiting from the token's potential appreciation. Ultimately, the choice to deposit stEvmos into Gliese Finance or other LSD protocols depends on an individual's investment goals, risk tolerance, and preference for stability versus potential yield.
