Trust in Gyrowin
Last updated: 2024-11-26
Since blockchain only allows data to be added, once data is recorded, it cannot be modified or removed. In other words, blockchain functions as a read-only system among publicly verified networks.
A smart contract is a program that executes when predefined conditions are met, adding data to the blockchain. It is primarily used to automate contract execution, enabling all participants to view the results immediately without intermediary involvement, minimizing the risk of fraud and saving time.
To prevent unauthorized access, smart contract source code should be publicly available and audited by reputable firms to ensure security and reliability.
What safety measures does Gyrowin offer to protect potential investors?
Freeze lock: Provides an additional layer of security by locking tokens with a cooling period before use.
Doxxed Team (KYC Verified): Ensures transparency and accountability through a verified team identity.
Decentralized Oracle Networks: Guarantees fair and accurate data for draws and token pricing.
Multi-Signature Wallets for Contract Transactions: Enhances security by requiring multiple authorized signatures for transaction approvals.
Governance System: Allows for community-driven decisions, ensuring transparency and alignment with investor interests.
Fully Audited Contracts by Solidproof: Smart contracts are thoroughly audited to eliminate vulnerabilities.
Tokenomics Audits by Hacken: Ensures a secure and sustainable business model through comprehensive tokenomics audits.
Note: A bug bounty program will be launched in the future to enhance the safety and security of Gyrowin.
How to Manage Risk in Evergreen Plant (CB Staking)?
Stablecoin staking is not entirely risk-free. While it is often considered relatively low-risk compared to other types of cryptocurrency investments, several potential risks remain.
1. Counterparty Risk:
For example, USDT is issued by Tether, and its value relies on Tether’s ability to maintain a 1:1 peg with the U.S. dollar. If Tether fails to properly manage its reserves, USDT could lose its dollar parity. => Gyrowin eliminates counterparty risk by adopting a CB structure, enabling users to convert their holdings into GUT tokens, unlike other platforms.
2. Smart Contract Risk:
DeFi platforms that offer staking rely on smart contracts. Bugs or vulnerabilities in these contracts can be exploited, leading to loss of funds. => Our smart contracts are designed to be hack-proof, undergo rigorous audits, and operate fully with multi-signature wallets for secure transaction management.
3. Liquidity Risk:
Some staking platforms require a lock-up period. During this period, you may not be able to access your funds quickly, which could be problematic if market conditions change or if you need liquidity. => You can withdraw your staked assets before the agreed-upon staking period ends by paying an early redemption fee. Additionally, you have the option to convert your assets to GUT based on market conditions.
4. Yield Risk:
The interest rates offered by staking platforms can vary and might decrease over time. High yields are often a trade-off for higher risks, so overly generous offers should be approached with caution. => Gyrowin has completely eliminated yield risk by creating a structure where its utilities, such as Gyro Wallet, Lending and Prediction Trading, continuously and reliably generate revenue, independent of the company’s funds.
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