Hello, ninja world! A groundbreaking protocol is making its debut on Injective, and it goes by the name Gryphon. Picture this: a fusion of DeFi titans Lido and Maker, Gryphon is here to elevate the Injective ecosystem to new heights.
What is Gryphon?
Gryphon is a decentralized #LSD (Liquidity Staking Derivatives) protocol designed specifically for #Injective . Going beyond traditional staking, Gryphon integrates borrowing and lending features, enabling users to optimize their staking strategies and unlock the liquidity potential of their staked assets.
Why Gryphon?
Layer one ecosystems often face challenges related to capital inefficiency, leading to locked funds and limited utility. Gryphon addresses this by allowing users to borrow against their staked assets, opening up new possibilities for liquidity use.
Key Features of Gryphon’s Testnet Launch
Borrow: Use staked assets like INJ, wETH, or wBTC as collateral to mint nUSD. Stake nUSD to earn a fixed 5% yield, and pair USDT/USDC with nUSD to earn additional Gryphon rewards.
Stake: Stake nAssets to receive incentives and rewards, amplifying your overall staking rewards. Gryphon facilitates increased capital efficiency and flexible deployment.
Why Build on Injective?
Injective, as a platform, aligns with Gryphon’s mission to reshape the financial system. It offers advantages at every layer of the stack, optimizing dApps for distinct advantages and unlocking a new design space.
Staked $INJ as the Initial Supported Asset
Gryphon starts with staked $INJ as the initial supported asset for borrowing, providing users with a familiar and valuable asset to engage with Gryphon’s features.
Conclusion
Gryphon’s Vision for Injective Gryphon aims to become the leading on-chain lending market for staked assets within the Injective ecosystem. Seamlessly integrating liquidity across multiple chains without the need for cross-chain operations, Gryphon introduces a robust native money market to enhance staking strategies.
Experience More Capital Efficiency
Gryphon enables you to move your funds wherever they make the most sense for you, offering increased capital efficiency and flexible capital deployment.
Join Gryphon on Injective
Embark on a high-stakes adventure with Gryphon, where ancient myths meet modern strategy. Gryphon is set to redefine LSD staking on Injective, providing users with limitless possibilities for their staked assets.