Gyroscope is a stablecoin. Think of it like an alternative to the dollar, but similarly stable in value, that you don't need a bank or even the government to run for you. You can hold and use Gyro Dollars just by interacting with communal computer code.
It's different from Bitcoin and other cryptocurrencies in that its value is stabilised. In comparison, Bitcoin can be even more volatile than GME. Gyroscope (and other stablecoins) builds on top of basic cryptocurrency mechanisms to effect this stabilisation.
Gyroscope is different from other stablecoins by its design. It's based on our years of PhD research on stablecoins and cryptocurrencies, including predicting ahead-of-time the Black Thursday-like leverage crises in the Dai stablecoin. The Gyroscope mechanisms are economically sound, balancing all DeFi risks, and reinvent the decentralized stablecoin as an all-weather system.
Gyroscope stabilises by having a reserve of other assets, with their own risks, and applying it to balance the market for Gyro Dollars similarly to how it is hard to move a spinning gyroscope. The result is a setting where it's in everyone's interest to coordinate on a stable value.
For a crash course in how Gyroscope works, watch this video featured in The Defiant:
Continue on to learn how the Gyroscope system fosters a virtuous cycle among its many users and how the Gyroscope mechanisms work. And learn more about how the Gyroscope stablecoin is different.