What is Gemini Dollar (GUSD)?
Gemini is a cryptocurrency exchange that deals with buying, selling, staking, and other crypto-related activities. It launched the GUSD stablecoin on the Ethereum blockchain. The token is pegged to the US dollar on a 1:1 ratio. The company received approval from the New York Department of Financial Services (NYDFS) to launch the stablecoin in September 2018. The Gemini Trust Company holds USD deposits that correspond to the number of tokens that are in circulation.
To find out the current GUSD price, you can check its live price chart featured above. However, note that, as it's pegged to the US dollar, the GUSD price tends to stay relatively stable.
Use Cases of GUSD
The GUSD coin is intended to be the bridge between traditional finance and the crypto industry. This is due to the fact that this specific stablecoin is completely regulated by the NYDFS, and it is one of the first stablecoins to get regulatory approval from a US finance regulator.
The GUSD crypto token can be used to trade and stake on decentralized exchanges, as well as it can be used in AMMs and other liquidity pools to provide liquidity.
Don't forget to check out the live Gemini Dollar price chart to see the current GUSD price.
Who Founded Gemini Dollar?
Two brothers, Tyler and Cameron Winklevoss are the creators of the Gemini Dollar. Tyler is the chief executive, in addition to being the president of WinkDex and a co-founder of Winklevoss Capital. He also serves as a consultant for the Rowing Blazers.
Cameron Winklevoss is the president of Gemini, CEO of WinkDex, and another co-founder of Winklevoss Capital. He also serves as an advisor for the Rowing Blazers. In 2004, they both earned a Bachelor of Economics from Harvard University and went on to receive an MBA from the Saïd Business School at the University of Oxford.
GUSD Tokenomics
At the time of writing this, the total supply of GUSD available stands at over 611 million GUSD tokens. However, bear in mind that being a stablecoin pegged to the US Dollar, it has no maximum supply set. Thus, its supply could change anytime.
Furthermore, note that the Gemini exchange accounts are audited monthly to ensure that the deposited USD in the reserves matches the GUSD in supply and circulation.
