GSLP: Stables Pool
GSLP Contract Address
Minting/Redeeming
Stake USDC directly from a Web3 wallet by entering the desired amount of GSLP to mint.
Redeeming GSLP is just as simple by entering the amount of GSLP .
Why GSLP ?
GSLP provides liquidity for traders, allowing them to take positions with leverage. If traders take a loss, then GSLP holders will make a profit; if traders take a profit then GSLP holders will make a loss.
Although GSLP value is market neutral and is not directly affected by the crypto market volatility, holding GSLP still bears risks. For taking these risks, GSLP stakers can earn 70% of the platform fees generated via trading activity on Yummy Finance.
Smart Contract risk: Yummy smart contracts are fully audited but nonetheless some inherent risks will always exist with any smart contracts.
Counterparty risk: If traders make profit, that profit is paid to the trader out of the GSLP pool.
Depegging risk: In the unlikely scenario that USDC, USDT, DAI depegs, GSLP is directly affected.
The open interest available for the perpetual platform is limited by the total stablecoin amount available in GSLP per chain. Traders cannot open a new position if the total platform open interest meets or exceeds the total TVL in GSLP .
GSLP Liquidity Pool
A portion of all protocol generated [GG] fees including opening/closing positions, minting GSLP , borrow fees, and excess funding fees as well as any losses [LL] from traders realized P&L and liquidations go towards the GSLP vault (chain specific) causing it's price to go up over time. Any profits [PP] from traders realized P&L are paid out from the GSLP vault causing its price to decrease. Overall, it is expected and highly probable that the price of GSLP will gradually increase over time as net inflow exceeds net outflow.
The GSLP price is based on the number of USD and GSLP in the vault, at any time, where:
Staking Rewards
By staking their GSLP , users receive BERA and esYUM.
After staking, your GSLP will be locked for 2 weeks. The timelock will reset every time you stake more GSLP or claim rewards.
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