Introducing Gryphon
Gm my fellow ninjas 🥷
A novel protocol is on Injective.
Introducing Gryphon. It’s built to supercharge your LSDs. Imagine a mashup between two DeFi powerhouses, Lido and Maker. Now Gryphon is here to elevate the Injective ecosystem.
It’s a legendary alliance between gryphons and ninjas, where every mission is a high-stakes adventure. Gryphon is the ultimate companion combining ancient myths with modern strategy. The possibilities are limitless.
What is Gryphon
Gryphon is a decentralized LSD staking protocol built on Injective.
It has integrated borrowing and lending functionality, empowering users to optimize their staking strategies by granting access to unlock the liquidity potential of staked assets.
Layer one ecosystems often suffer from capital inefficiency. What commonly happens when you create a position of your staked assets is: locked funds and limited utility. You can’t do anything with them.Leading to a significant amount of unused liquidity.
Gryphon is here to change that.
There are two features live with the initial Gryphon testnet launch:
- Borrow: Utilize your preferred staked assets such as INJ, wETH or wBTC as collateral to mint nUSD.
Anyone can secure Gryphon rewards by depositing your chosen staked assets as collateral to mint nUSD. By staking nUSD, you’’ll be able to earn a fixed 5% yield.
You can also pair USDT/USDC with nUSD to earn trading fees. It offers additional Gryphon rewards and additional collaterals to users staking on Gryphon.
An nToken represents your share in the pool of stablecoins. It can be redeemed to claim your initial deposit + your accrued interest.
2. Stake: Stake nAssets and receive incentives/rewards.
By staking nAssets, you can borrow stables and earn additional yield. And your nAssets will continue to generate yield while staked on Gryphon.
This boosts your total staking rewards even further.
Borrowers are incentivized because:
- There’s no need to worry about staking/voting
- You get leverage
- You get liquidity for your staked LSDs
- You earn additional yield via our stablecoin and ecosystem tokens
Why build on Injective
With the mission to reshape the fragmented financial system, Injective serves as the foundation for financial applications and provides the most innovative infrastructure. Gryphon chose Injective because it optimizes every layer of the stack to offer dApps distinct advantages, unlocking a new design space as a sector-specific layer one.
Gryphon envisions itself as the leading on-chain lending market for staked assets in the Injective ecosystem. It seamlessly integrates liquidity across various chains without the need for cross-chain operations.
Staked $INJ will be featured as the initial supported asset for borrowing.
Conclusion
Gryphon is introducing a robust native money market to the Injective ecosystem, significantly enhancing your staking strategies by providing access to locked liquidity within your nAssets.
Additionally, borrowing against nAssets will facilitate an increased flow of staked capital across multiple chains. Users can stake one nAsset on Gryphon, borrow stablecoins, and create an entirely different nAsset which can also be leveraged.
More capital efficiency. More flexible capital deployment.
Gryphon gives you the freedom to move your funds wherever it makes the most sense for you.
About Gryphon
Gryphon is a decentralized LSD staking protocol built on Injective. It has integrated borrowing and lending functionality, empowering users to optimize their staking strategies by granting access to unlock the liquidity potential of staked assets. It envisions itself as the leading on-chain lending market for staked assets in the ecosystem. And seamlessly integrates liquidity across various chains without the need for cross-chain operations.
About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
