Review on Gemini Dollar by phuong cong
Evaluation of the prestige of Gemini dolar and its highlights
Gemini is a stablecoin created by two billionaire brothers of the Winklevoss family.
Gemini is also the number 1 stablecoin on Gemini - a reputable US exchange.
Like most other stablecoins, GUSD runs on the Ethereum Blockchain platform, the anchor ratio is 1: 1 to the USD. This is a reputable stable coin, licensed to operate by the New York finance department.
The mechanism for converting GUSD to USD will be through a Stake street service bank, all printed GUSD tokens are deposited with Gemini with the corresponding USD here.
Gemini can be said to be the prestigious stalecoin .
Pros
- The exchange mechanism is transparent, has the backing of the Gemini exchange and it is licensed by the US Department of Justice.
- High liquidity, Gusd is listed on many major exchanges
- It has the partner of the big bank Stake street, every circulating supply of GUSD is strictly controlled
- Gemini has hired third parties to do security checks such as GUSD's monthly audit
- Stable with market volatility
Cons
- Users outside the US have difficulty converting GUSD to USD and vice versa
- GUSD has too low total supply compared to USDT, USDC ..
- Since it is an ERC20 token, it will incur large shipping fees when ETH gas increases sharply
- There is no derivative product that uses GUSD as a base copper
- There is much competition from new stablecoins like BUSD
