Gryphon represents an innovative protocol seamlessly integrating LSD and a stablecoin (CDP) component into its framework. Think Jito + DAI seamlessly integrated under one roof to serve the Injective ecosystem and the greater Cosmoverse.
iUSD will provide a 3 headed solution:
1/ Capital Efficiency Perfect for DeFi applications looking for low volatility and price stability.
2/ Adaptable CDP Almost any blue chip network layer can collateralize their assets to mint iUSD.
3/ Compound Yield Backed by blue chip assets starting with Injective.
Market outlook:
- Stablecoin market to soar to almost $3T in the next 5 years.
- Stablecoin use to surge, as transaction values to grow 250% globally by 2028.
As the pioneering Stablecoin protocol on Injective, Gryphon has already gained significant traction, boasting a rapid trajectory of a growing user base of more than 10,000 users on mainnet this month.