The Secondary-market AMM (S-AMM): where Gyro Dollars are designed to be highly liquid and traded

In Gyroscope the secondary market AMM concentrates the liquidity within a band between the minting and redemption quotes offered by the primary market AMM. This combination of AMMs ensures great liquidity everywhere, but especially around the peg in the S-AMM.

When highly reserved, S-AMM liquidity is concentrated within narrow band between P-AMM prices.
In a shocked setting, the P-AMM shape changes, and S-AMMs concentrates liquidity in new ranges.

More coming soon. See the white paper Section 3.5 for current details.