Official GhoulDAO Documentation

Zero-interest crypto lending - making DeFi accessible for all
gDai is a way for you to keep your crypto and still be able to spend its value. That means you're able to borrow stablecoins without having to sell your crypto assets, and do so at 0% interest! 
The process is simple: create a gDai vault, deposit your crypto assets, and start borrowing stablecoins against your collateral’s value.
Example
Stark has a small business. His business has an undisclosed amount of crypto tokens as assets. Unfortunately, Stark’s laptop suddenly stopped working, and he will now need a new one. The dilemma that Stark has now, is whether to sell some of his ETH to buy his new laptop or keep his ETH because he is bullish about its long term potential to be worth more. gDAI doesn't want you to have to choose. By using gDAI, Stark can deposit  1 ETH in a vault and borrow stablecoins against that collateral to purchase his new Laptop. Stark gets his new computer and gets to keep all of his ETH. So, if ETH prices increase next week, Stark will still be able to realize those gains. Meanwhile, the gDAI stablecoin Stark took out against his collateral can be paid back at any time and do not incur any interest. 
gDAI is a stablecoin on Ethereum and Binance Smart Chain. It is self-sustaining, community-governed, and decentralized. Loans are secured by always having more value locked than the amount of debt given out. Loans are paid out and repaid in gDAI (a stablecoin soft pegged to the USD). 
Components of GhoulDao include the following:
Overcollateralized vaults: gDAI relies on collateral vaults to back its value. At all times, gDAI stablecoins are fully backed by collateral. 
Vault: Where users deposit their token collateral and borrow gDAI. Vaults are user managed and controlled. 
Decentralized and user-managed: gDAI is built on market incentives and penalties. There is no centralized authority or algorithm controlling the protocol. Only users can control their funds.
Two tokens: gDAI is the stablecoin made by the GhoulDAO Protocol and GhoulX is the protocol’s governance token.
GhoulDAO aims to provide an easy-to-use DeFi protocol which lowers the threshold to participating in decentralized finance. We want to make the crypto-economy transparent, accessible, easy to understand, and inclusive for everyone around the world. We are and will continue to develop features and services that give our users more freedom and control over their crypto than currently available.
Stablecoins and lending are the building blocks for the decentralized financial services ecosystem. Our hope is to make a stablecoin, gDAI that can help any crypto community member use their tokens as collateral, serving as a catalyst for DeFi innovation on Ethereum.
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  Interested in having your Tokens used as collateral or collaborating? Reach out to us here✨
Warning: GhoulDAO is in alpha. It has not been audited. We have performed analysis using mythx.io and slither to reduce the likelihood of bugs. Please understand the risks and use this product accordingly. 
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Last modified 3mo ago

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