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About GARD
GARD is a decentralized stablecoin and fixed-income protocol built on the Algorand blockchain. Its core business is issuing GARD, an over-collateralized stablecoin backed by Algorand-native assets such as ALGO and its liquid governance derivative gALGO.
Users can deposit ALGO or gALGO as collateral into smart contract vaults and borrow GARD against them. The protocol maintains a minimum collateralization ratio of 115%, meaning the value of deposited assets must always exceed the value of borrowed GARD by at least 15%. This mechanism ensures the stablecoin remains fully backed and protects lenders from price volatility.
The main pain point GARD solves is the opportunity cost of holding ALGO. Traditionally, ALGO holders must choose between locking their tokens for governance rewards or keeping them liquid. Through gALGO, users can continue earning governance rewards while also using their position as collateral to borrow GARD for other purposes, unlocking capital efficiency without sacrificing staking benefits.
Regarding development in the past six months (March to September 2026), no reliable public information is available. The protocol has experienced a significant decline in market activity and community engagement during this period, with trading volumes and collateral levels reportedly dropping substantially. However, specific updates, partnerships, or technical milestones cannot be confirmed due to lack of verifiable sources.
In February 2022, the GARD whitepaper was released, proposing a collateralized debt position and overcollateralized stablecoin model based on Algorand governance. It became the first algorithmic stablecoin/decentralized dollar on Algorand, making committed ALGO liquid.
The GARDIAN loyalty token and GAIN governance token mechanism was established: GARDIAN is redeemable for GAIN, and GAIN holders vote via DAO on fees, collateral, monetary policy, etc., laying the foundation for long-term decentralized governance.
Integration with Algorand governance is a long-term milestone: users locking ALGO to mint GARD continue to accrue governance/consensus rewards, while liquidations use Dutch auctions, improving capital efficiency and strengthening stability.
On April 15, 2025, GARDIAN converted to GAIN, marking the official launch of the governance token and the substantive start of DAO governance.
Over the past six months (2026-03-01 to 2026-09-01), GARD has undergone significant operational shifts. In March, the protocol announced GARDIAN V2 updates and upcoming IP restrictions, signaling a focus on compliance and enhanced user verification. A critical incident occurred in April when a user exploited inflated oracle pricing to borrow excess GARD, leaving bad debt. The team swiftly transitioned to FolksFeedOracle and resolved the issue, recovering funds and reaffirming transparency. By June, GARD pivoted its reward strategy, launching Targeted DeFi Rewards with the Algorand Foundation to incentivize deposits of USDC, ALGO, and gALGO into lending pools on Pact, Humble, and Folks Finance, boosting staking APRs. Looking ahead, GARD's roadmap emphasizes maximizing gALGO utility, expanding wrapped ALGO collateral types, and transitioning toward a yield-bearing stablecoin model. The DAO will drive governance on collateral additions and protocol fees, while the team prioritizes oracle resilience and community education to prevent future exploits.
GARD (Algorand-based decentralized money and fixed-yield products) was founded by Rylie Rueda (CEO), David McCabe, and Ryan Soscia (COO). Rylie Rueda has a background in finance and sports, previously studied at Boston College, and led the women's basketball team. Ryan Soscia serves as Co-Founder & COO, with experience in management and operations. David McCabe is also a co-founder, though his specific role is not publicly detailed. The team focuses on building overcollateralized stablecoin and liquid governance solutions on Algorand.