Intro to nUSD

Gryphon is a decentralized application built around Liquid Staking Derivatives (LSD).

The primary goal here is to introduce nUSD, a stablecoin that is safer and more decentralized and also yields steady interest for its holders.

In short, Gryphon supports the creation of nUSD by enabling users to borrow against their deposited INJ and nINJ.

nUSD is an over-collateralized stablecoin supported by Injective-based assets and provides the assurance of stability; a critical factor for people using it to confidently conduct transactions. And is a safe, stable, interest-yielding stablecoin.

One key feature of Gryphon is that it lets users earn a regular income simply by holding onto minted nUSD. This income comes from the LSD income generated from the deposited INJ and nINJ. So, when users deposit these assets and create nUSD against them, they receive a steady yield, around 15% in INJ. This is then converted into nUSD via the protocol and be distributed.

The Gryphon Foundation firmly believes that such a decentralized stablecoin is vital for anyone looking to fully leverage the potential of crypto. By providing a stablecoin backed by INJ and nINJ and yielding interest, Gryphon gives users the ability and security they need to navigate DeFi.

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