The GSU Protocol project presents a stablecoin-related solution aiming to protect the purchasing power, sovereignty and equity of users by shifting away from a single point of value determination.

Currently on Testnet, we can interact with it using our Metamask on Göerli Network to secure a tester POAP, some roles, a potential reward for our contribution and as a bonus, an Early Pass NFT.

Without further ado, let’s see how to do it 👇

1. What is GSU Protocol?

2. Tokenomics & Roadmap

3. Testnet Tutorial

4. POAP & Roles

5. Early Pass NFT

6. Conclusion

1. What is GSU Protocol

GSU Protocol is the CDP lending protocol for Global Stable Unit (GSU). It allows users to perform the issuance of GSU coins (GSUc) based on collateral provided. It is built from a fork of Maker Protocol due to its robustness stability and security. GSU Protocol’s distributes $GSUc stablecoin through an overcollateralized debt position of crypto assets (initially $ETH, $WBTC). Source: White paper

2. Tokenomics & Roadmap

CDP protocols are one of the few segments in the crypto ecosystem with a well-documented and stable pricing model. Pricing of a CDP protocol most often ranges between 11%-22% of Total Value Locked (TVL). However, the GSU team ambition is to reach a TVL equal to 50% of the leading Maker within the first 12 months.

As we issue a GSU reference token, and not a USD reference token, we will not be in competition with the other protocols, but rather represent an opportunity for collaboration and growth.

For the Roadmap, we can see that we are currently around week 44: the Testnet phase. The Mainnet is scheduled for Q1 2023 so we still have a couple of weeks to perform the actions below.

Note: This is a Tentative roadmap & the team is planning to release a new one soon.

3. Testnet Tutorial

To perform tasks on the website, you’ll need at least 0.8 - 1 gETH on the Göerli Network. You can use the faucets below to receive your test tokens:

• fauceth.komputing.org

• faucet.goerli.mudit.blog

• goerli-faucet.pk910.de (Mining)

• faucet.triangleplatform.com

If you are still facing issue claiming tokens, you can contact the team on Twitter:

Once you received the tokens, you can start to interact with the platform:

• Go to gsucoin.app website & connect your wallet (Göerli Network).

• Add GSUc token => 0x252D98faB648203AA33310721bBbDdfA8F1b6587

• Click on “Borrow”.

• Click on the “Borrow” button & sign the message => “Continue”.

• Type minimum 0.8 gETH (at least 520 $GSUc needs to be generated in the next step) => Confirm transaction & Create Vault.

• Move to “My Positions” and click on “Edit Vault”.

• Select “GSUc”

• Click on “Generate” & type “520 $GSUc” => Confirm your transaction.

• Now we choose “Payback” & type “20 $GSUc” => Confirm your transaction.

In this step, the idea is to fully repay our debt. In order to do that, you need to have more GSUc than the amount you have borrowed.

If you don’t have enough, here is how do you get it?

• Visit Uniswap (Göerli Network): app.uniswap.org/#/swap

• Paste the contract address: 0x252D98faB648203AA33310721bBbDdfA8F1b6587

• Swap some ETH to GSUc

You can now repay your full debt if you want to & withdraw back your collateral to experiment more the protocol or other vaults.

Now that we have explore the features, we can claim our POAP and roles.

4. POAP & Roles

To receive a POAP for the testnet performed, go to their Discord & submit a feedback using the #report-a-bug or #feedback channel.

🚨 Don’t forget to submit your wallet address in tester role POAP thread. To reveal it, place your mouse over the testnet channel to see the active thread. 🚨

Additionally, we can also unlock the available roles on Guild.xyz:

5. Early Pass NFT

This part is not related to the Testnet, however as it include a form to fill and a GSU Early Pass NFT to be claim for free, let’s secure it.

It is open until the end of December 2022 👀:

• Follow GSU Protocol

• Retweet this tweet

• Tag 3 friends

• Complete this form

6. Conclusion

Congratulations Pirates, another testnet completed about an ambitious project willing to beat all fiat/crypto currencies in price stability.

The majority of the existing stablecoins peg to the US dollar, and so are affected by the same economic policies and parameters that apply to their fiat-counterparts. Seeing a project willing to change that is worth our attention.

We advice you to perform the free actions above to secure your POAP, roles and a GSU Early Pass NFT.

Credentials are a way for projects to recognize contributions of the community with immutable on-chain data, so we can be sure that it won’t be forgotten or unverifiable retroactively..

Hope this tutorial was easy and clear to follow. If you have a question, join our Discord. We hunt and provide assistance daily for free for you and your wallet to make it 🤝:

Looking for other tutorials? Join our Community on Guild.xyz , we hunt DAILY 🏴‍☠️:
We gather the best Pirates and bots on Discord to make your life easier while hunting.
We also have special giveaways and tools for our beloved collectors ❤️

🏰 Guild : guild.xyz/airdropscaptain
🍃 Lens : airdropscaptain.lens - 0xWojtas.lens
🐦 Twitter : twitter.com/AirdropsCaptain - twitter.com/0xWojtas
🏠 Link3 : link3.to/AirdropsCaptain
💬 Discord : discord/AirdropsCaptain