# gmUSD Working Mechanism

- [What is gmUSD?](/gnd-protocol/gmusd-working-mechanism/what-is-gmusd.md)
- [Yield-Bearing Mechanism](/gnd-protocol/gmusd-working-mechanism/yield-bearing-mechanism.md)
- [PSALM](/gnd-protocol/gmusd-working-mechanism/psalm.md)
- [Incentivization](/gnd-protocol/gmusd-working-mechanism/incentivization.md)
- [Black Hole Liquidity](/gnd-protocol/gmusd-working-mechanism/black-hole-liquidity.md)
- [Launch and Market-Making](/gnd-protocol/gmusd-working-mechanism/launch-and-market-making.md)