Gyroscope GYD
GYD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
GYD (Gyro Dollar) is a decentralized multi-chain stablecoin developed by FTL Labs and backed by a strong founding team with structured governance and comprehensive auditing across Nethermind, Runtime Verification, and Trail of Bits (Active Development: 7.0/10, Team and Governance: 7.5/10, Tokenomics: 6.0/10). However, community engagement and secondary market liquidity remain low (Community: 3.0/10, Market and Use Case: 5.0/10). Crucially, the protocol suffered a qualifying red-flag exploit on its cross-chain bridge contract: 'On 30 January 2026, Gyroscope announced that an exploit had affected GYD's cross-chain contract and instructed users not to interact with GYD; GYD liquidity pools were paused.' The attacker drained 6,099,337.37 GYD tokens with ~$807k extracted liquidity via an arbitrary-input flaw in the BridgeToken() function (CertiK incident report, Feb 3, 2026). Because this recent event resulted in paused pools without confirmed full remediation, the Security and Audit History section scored 3.5/10, triggering the red-flag cap rule and limiting the final score from the unadjusted weighted average of 5.45 down to 5.0.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Gyroscope GYD (GYD)
GYD (Gyro Dollar) is a decentralized stablecoin developed by FTL Labs and issued by the Gyroscope protocol. Founded in 2021, the project raised $4.5 million in a January 2022 seed round co-led by Placeholder VC and Galaxy Ventures. GYD is designed as an overcollateralized-style, elastic-supply stablecoin that uses an automated risk framework to maintain its peg near $1.00 through on-demand minting and redemption. The stablecoin is deployed across multiple blockchain networks, including Polygon PoS, Polygon zkEVM, Gnosis, Base, Arbitrum One, Optimism, and Avalanche.
Protocol governance is coordinated through the Gyroscope Improvement Proposal (GIP) framework, which utilizes the separate GYFI governance token for forum consultation, Snapshot voting, and final on-chain execution. The protocol also incorporates emergency multisig controls and timelocks. While the protocol integrates liquidity pools offering yield mechanisms, GYD maintains a relatively concentrated user base and modest secondary market trading volume across decentralized exchanges.
In terms of security, the Gyroscope codebase and bridge infrastructure were audited by Nethermind, Runtime Verification, and Trail of Bits. Despite these security reviews, the protocol suffered a major security incident on January 30, 2026, when an arbitrary-input vulnerability in the cross-chain contract's BridgeToken() function was exploited. The attacker withdrew 6,099,337.37 GYD tokens and extracted approximately $807,000 in liquidity, prompting Gyroscope to pause liquidity pools, issue warnings against token interaction, and offer a 33% white-hat bounty.