In this article we will explain how you can buy and stake tokens on Gyro DAO. Its token, GYRO, is a decentralized currency that isn’t pegged to any fiat currency. By using algorithmic control of market dynamics, Gyro’s stable-currency aims to curb inflation and give users the same purchasing power tomorrow as they do today.
How to Buy GYRO #
1. Open the GYRO/USDT trading pair on PancakeSwap by using the following link: https://pancakeswap.finance/swap?inputCurrency=0x55d398326f99059ff775485246999027b3197955&outputCurrency=0x1b239abe619e74232c827fbe5e49a4c072bd869d
If this is the first time you load this token pair, checkmark the ‘I understand’ prompt and click ‘Import’.
2. From the Swap Exchange, enter the amount in GYRO that you wish to purchase then click ‘Enter’.
3. PancakeSwap allows for smart routing. You can purchase GYRO with other assets besides USDT (i.e. BNB, USDC, etc.). Click on ‘USDT’ and a popup will display; allowing you to choose another asset to purchase from.
How to Stake GYRO #
If you want to start staking GYRO, go to https://gyro.money/ , launch the app and follow the steps below:
1. Click “Stake Menu” on top.
2. Choose the amount of GYRO you want to use for staking.
3. Click on the “Stake” button at the bottom.
4. Confirm the transaction to finish.
You might have noticed that you start to receive sGYRO after you have staked your GYRO. By using sGYRO — which stands for staked GYRO, the Gyro protocol can automatically rebase your staked GYRO. By rebasing, compound yield is automatically applied to the principal, allowing for true rewards.
How to Buy Bonds #
1. Click “Bond Menu” on top, then choose “Buy Bond”.
2. Enter the amount in GYRO or USDT that you wish to purchase. The dapp will auto-calculate the amount for the other asset pair.
Buying bonds requires adding the same value for GYRO and USDT.
To clarify this, let’s use an example. Suppose that 1 GYRO = $ 57.254. This means that in order for you to buy 1 bond, you need to deposit $57.254 worth of USDT as well. The protocol automatically performs the calculation for you.
Before buying the bond, check the discount applied by the protocol. This will be the discount you will receive relative to the market price at that precise moment for GYRO.
The vesting period is 5 days. You will be able to redeem your GYRO on every block height.
3. Click on the “Buy Bond” button at the bottom.
4. Confirm the transaction to finish.
You should now know how to buy Gyro and how to stake it. If you found this guide useful, make sure to share it on social media!
