Gemini Dollar Staking
Gemini Dollar (GUSD) is not listed as a staking asset on Staking Rewards. You can still convert token prices, calculate reward rates and compare against rewards earned for other top staking assets.Learn more about Gemini Dollar Staking
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Gemini Dollar Rewards Calculator
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What is Gemini?
Based out of the USA, Gemini is a simple, elegant, and secure platform to build your crypto portfolio.
Whether you’re an experienced trader or just getting started, Gemini has all the tools you need to buy, sell, and store your crypto.
NFT Marketplace, Nifty Gateway is also owned by Gemini, so you can expect the same industry-leading crypto security for your NFTs.
What is GUSD?
The Gemini Dollar is strictly pegged one-to-one to the U.S. dollar (USD) and is built on the Ethereum network according to the ERC-20 standard.
The Gemini Dollar combines the creditworthiness and stability of the USD with blockchain technology.
Gemini and the GUSD benefit from the direct supervision and regulatory oversight of the New York State Department of Financial Services (NYDFS).
Gemini began issuing Gemini Dollars on September 9, 2018, making GUSD among the first regulated stablecoins in the world.
Is Gemini and GUSD Regulated?
Gemini is a licensed New York trust company that undergoes regular bank exams and is subject to the cybersecurity audits conducted by the New York Department of Financial Services.
Gemini is SOC 1 Type 2 and SOC 2 Type 2 compliant. They are considered the world’s first cryptocurrency exchange and custodian to complete these exams.
The Gemini Dollar (GUSD) is among the first U.S. dollar-backed stablecoins to gain approval from a U.S. regulatory body.
How Is GUSD Regulated?
Gemini secured a New York state charter in 2015 and was one of the first cryptocurrency exchanges to become fully regulated in the United States. It is subject to New York banking laws and the regulatory authority of the New York State Department of Financial Services (NYDFS). Gemini has proactively developed its relationship with legal and regulatory bodies in order to foster trust between the traditional financial system and blockchain community. Notably, Gemini was the first exchange to apply for and be designated as a New York Trust Company.
The Gemini Dollar is fully backed at a one-to-one ratio with the U.S. dollar. The number of Gemini dollar tokens in circulation is equal to the number of U.S. dollars held at a bank in the United States, and the system is insured with pass-through FDIC deposit insurance as a preventative measure against money laundering, theft, and other illicit activities. Overall, Gemini Trust makes use of a centralized system that helps protect against security threats, giving the Gemini dollar key regulatory advantages over many of its competitors.
How to Lend GUSD?
You can earn substantial interest for lending your GUSD with a custodial lending provider such as Gemini, Celsius Network, or BlockFi. For a full list of lending providers please visit the GUSD Asset Profile Page.
To Lend, sign up to these platforms and verify your account. Once verified you will be able to acquire some GUSD.
Next, you will need to participate in the Earn Program, for example, visit the Gemini Earn dashboard.
Each platform will have its own requirements, interest rates, and risks.
How much can I earn Lending GUSD?
As GUSD is backed 1 to 1 to the US Dollar there is no traditional staking inflation for lending GUSD.
You are able to earn interest payable from custodial lending providers based on their strategies for earning interest on deposited assets.
To calculate your Lending Returns please visit the GUSD Advanced Calculator.
As of early Jan 2022, the average lending reward is around 8% APY, which sure beats traditional bank savings accounts!
Any risks to Lending GUSD?
There is always a trust risk when participating in custodial lending services.
Consider platforms such as Gemini Earn that have insurance backings to protect against catastrophic loss.