GUSDUSD
Gemini Dollar / United States dollar
crypto

The Gemini Dollar (GUSD) is the one of the world's first regulated stablecoins. It is issued by Gemini Trust Company LLC, a New York Trust Company. Gemini Dollars correspond on a 1:1 basis with US Dollars in order to provide a stable currency for transactions. GUSD is an ERC-20 and is built on and can be transferred on the Ethereum network. There are three kinds of smart contracts used by Gemini Dollar: 'Proxy,' 'Impl,' and 'Store.' 'Proxy' is the public face of the Gemini dollar. 'Proxy' delegates the right to execute the logic that governs token transfers, issuance, and other core features to the smart contract known as 'Impl' 'Impl' delegates ownership of the ledger to the smart contract known as 'Store' 'Store' —the external and eternal Gemini dollar ledger Gemini uses multiple security measures in order to protect user funds. Offline keys are used to approve high-risk actions are stored offline in Gemini's proprietary cold storage system. Keys are generated, stored, and managed through onboard hardware security modules (HSMs). Gemini only uses HSMs, each a "signer," that has achieved a rating of FIPS PUB 140-2 Level 3 or higher. Multi-signature design utilizes M of N signing in order to provide security and fault tolerance. A time lock system provides a grace period to detect and preemptively respond to security incidents. Pending actions can be revoked, allowing for the nullification of erroneous or malicious actions before being executed. The full smart contract code for GUSD can be found at: https://etherscan.io/address/0x056fd409e1d7a124bd7017459dfea2f387b6d5cd#code.