[GUSD]

Gemini Dollar

Grade
A
Date of Rating:
June 4th, 2023
Last Change:
-
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
0.90
[M]
0.84
[I]
N/A
[D]
0.10
[G]
1.00
[E]
N/A
GUSD Price
Last Update:
21/05/2024 08:59:38
$1.002
Market Cap
$197,251,249
24h Volume
$1,240,994
Collater­alization
100%
Type of Peg
Fixed - To Fiat
Type of Backing
Fiat
Data provided by Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
0.90
[M]
0.84
[I]
N/A
[D]
0.10
[G]
1.00
[E]
N/A
Core Team
  • Tyler Winklevoss

  • Cameron Winklevoss

Native Chains
  • Ethereum

[S]
[M]
[I]
[D]
[G]
[E]
0.90
0.84
0.00
0.10
1.00
0.00
Gemini Dollar
A
  • Gemini Trust Company (“Gemini”), the issuer of GUSD, is regulated as a stablecoin issuer by the NYDFS, and, therefore, subject to stringent guidelines and monitoring requirements. It is one of the safest fiat-backed stablecoins.

  • GUSD’s reserves comprise short dated US Treasuries, money market funds invested in US Treasuries,  and cash deposits in fully segregated and bankruptcy-remote accounts 

  • All KYC’d holders may redeem GUSD for USD directly through Gemini or trade GUSD for other stablecoins on centralized exchanges.

  • Although GUSD is designed to be institutional-grade, compliant with regulations and customer protection-focused, it is not widely used in the crypto markets, and hence lacks significant liquidity on exchanges. Therefore, GUSD is most suitable for (a) making and receiving payments and (b) passive stablecoin holders who seek exposure to USD but cannot or do not want to hold USD in a bank account.

Gemini Dollar
Stability
Stable
0.90/1
Stable

The Stability factor is evaluated on the following:

1. Reserves Management - Quality, quantity, storage and segregation of reserve assets

2. Market Feedback - Indicators of market's confidence in a stablecoin derived from price and trade data

3. Mechanism - Stabilization methods that protect the stablecoin

Gemini Dollar
Management
Very Low Risk
0.84/1
Very Low Risk

The Management factor is evaluated on the following:

1. Restrictions - What deterrents exist to prevent key personnel of stablecoin projects from unethical and illegal behavior?

2. Negative Track Record - Have key personnel been involved in scams, frauds or other illegal activities?

Gemini Dollar
Implementation
Not Assessed
N/A
Not Assessed

This factor aims to assess risks arising from technical implementations – i.e, smart contract code and oracles. It is currently not assessed, but we plan for it to be evaluated in the future.

Gemini Dollar
Decentralization
High Risk
0.10/1
High Risk

The Decentralization factor is evaluated on the following:

1. Platform Censorship Risk

2. Custodian Risk

3. Type of Collateral

4. Diversified voting Power

5. User Censorship Risk

Gemini Dollar
Governance
Very Low Risk
1.00/1
Very Low Risk

The Governance factor for fiat-backed stablecoins is evaluated on the following:

1. Holder Protection - What rules, statutes or code exist to protect interests of stablecoin holders?

2. Reserves Verification - What checks are done to ensure existence of reserves?

3. Redemptions - Do issuers have transparent and reasonable redemption terms?

Gemini Dollar
Externals
Not Assessed
N/A
Not Assessed

This factor seeks to incorporate external feedback mechanisms such as market and social sentiment into our internal ratings. It is currently not assessed, but we plan for it to be evaluated in the future.