Gemini, a reputed crypto exchange custodian has recently acqui-hired Guesser, a decentralized (Defi) predictions platform for growing the adoption of GUSD stablecoin. The term acqui-hired is being used because the team behind Guesser is joining Gemini, but the platform is going to shut down.
Gemini crypto exchange shared this news on Tuesday revealing that the Defi platform Guesser has joined hands with the exchange for the growth of the adoption of its Gemini dollar or GUSD stablecoin.
Marshall Beard, the Head of Strategy and Corporate Development at Gemini stated:
"We believe DeFi will play a significant role in the future at Gemini. The Guesser team is experienced in DeFi — including the protocols and applications, how it all works and how to engage in the ecosystem. We're excited about the future of DeFi at Gemini with this team on board."
Talking about the team of Guesser, it comprises a total of four people out of which two are Carlos Gonzalez (Co-Founder), Jose Garay (Co-Founder). They are responsible for developing relationships with Defi protocols and submitting GUSD integration proposals.
The CTO of Tether, Paolo Ardoino recently spoke about Circle and said:
"Recently Tether has been gearing up good communications with different DeFi projects, which will definitely help to improve the overall presence of Tether in the broader DeFi ecosystem in the coming months.”
Talking about GUSD, Beard said that Defi is still in its early stages of development and the acqui-hire of Guesser will be assisting in the growing usage of the stablecoin. At present, the total supply of GUSD is over $250 million while USDT and USDC have a current total supply of over $27 billion and $63 billion respectively.