### What Is GARD?

GARD is a U.S. dollar [stablecoin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) pegged to USD at 1:1. First launched in April 2022, GARD has since grown to incorporate almost $2 million of backed tokens as of August 2022.

As with other stablecoins, GARD aims to facilitate increased liquidity and provide cryptocurrency traders and general users with a nonvolatile asset relative to free-floating tokens such as [Algorand](https://coinmarketcap.com/currencies/algorand/) (ALGO).

### Who Are The Founders of algoGARD?

GARD is a stablecoin launched by the algoGARD project, whose co-founder and CEO is Rylie Rueda.

Rylie has had lifelong interests in helping others and finance, specifically where these interests intersect. She has been involved in crypto since 2017 and is a firm believer in proof of stake blockchains, specifically Algorand, and how they will be part of this solution. Rylie's previous experiences in startups and finance have taught her how to maintain a clear vision, while her athletic experience has taught her how to build and unify the teams she is a part of.

At the time of launch, she noted that regular auditing of the stablecoin formed an important focus for the company, giving investors peace of mind at a time when many cryptoassets were seeing heavy volatility in the wake of [the fall of Terra-Luna](https://www.coindesk.com/learn/the-fall-of-terra-a-timeline-of-the-meteoric-rise-and-crash-of-ust-and-luna/).

## What Makes algoGARD Unique?

GARD aims to balance stability and utility — the main use cases of any stablecoin — with security in the form of [open-sourced](https://github.com/Tapera-Finance/GARD-BackEnd) smart contracts. 

Being built on Algorand, algoGARD benefits from the cheap, fast, and eco-friendly transactions of the blockchain. There were no other CDP products on Algorand MainNet in August 2022.

### How Many GARD Coins Are There in Circulation?

There was around 299.3 thousand GARD in circulation as of August 2022. Given its status as a stablecoin, the supply is uncapped, and will continue to expand according to demand.

### How Is algoGARD Secured?

Cryptoassets are locked into personal vaults where they can be borrowed against. Users are able to  borrow GARD against their existing crypto for use, and then are able to reclaim their original crypto assets by repaying the GARD that they borrowed. This means that every GARD token is backed by at least $1 worth of locked crypto. 

If the value of the locked cryptoassets in a vault decrease and approach the value of the GARD debt, the cryptoassets are sold on the open market via Dutch Auction to repurchase GARD and make the system whole. 

### Where Can You Buy GARD?

GARD is freely available on the Algorand decentralized exchanges, with its largest pools mainly being Algo/GARD pairs. 

Among the largest volume currently belongs to [PACT](https://app.pact.fi/pools), a decentralized exchange on Algorand.

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