Geminon protocol is deprecated. All smart contracts have been paused and the collateral has been moved into vaults. GEX holders can redeem their tokens against the native coin of the blockchain where they are held at constant price. The team is working on the development of Geminon v2. Check https://geminonprotocol.medium.com/ for more info.
What is Geminon?
Geminon is a multi-chain stablecoin protocol. It is currently deployed on the Ethereum, BNB Chain and Avalanche networks. It allows users to mint, trade and redeem both deflationary currencies linked to the CPI of different countries as well as stablecoins linked to a wide range of fiat currencies. The first version of the protocol includes various DeFi services associated with stablecoins, such as a zero slippage Foreign Decentralized Exchange (ForDEX), lending and borrowing of crypto assets and stablecoins, and also a multi-chain bridge. Geminon's stablecoin protocol has a unique design that combines collateralization with an algorithmic middle layer that buffers collateral volatility. This novel design combines the advantages of algorithmic and collateralized stablecoins while eliminating or reducing their drawbacks.
How does it work?
Geminon has 4 main modules:
Genesis Liquidity Pools (GLP)
GLPs are the main entry point to the Geminon protocol. They allow users to obtain GEX tokens in exchange for depositing other crypto assets as collateral. To learn more about which assets are accepted as collateral and how GLP works in detail, visit the following sections: