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Decentralized Infrastructure for the Ethereum Ecosystem.
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Gnosis builds decentralized infrastructure for the Ethereum ecosystem.
Gnosis developed a wide range of products including Gnosis Safe, Gnosis Protocol (CowSwap), Conditional Tokens (prediction markets), and Gnosis Auction, allowing users to create, trade, and hold digital assets.
GNO is the utility and governance token of the ecosystem and has the following use case:
Governance: Users can vote on network governance proposals via the GnosisDAO. A minimum of 1 GNO is required to participate.
Protocol fee: As a result of GNO locking, transaction costs can be reduced when using Gnosis products.
Liquidity mining: Users can contribute liquidity to GNO pools on DEXes (i.e. Uniswap) to earn a share of the DEX transaction fees.
The protocol consists of the following major components working in conjunction:
Gnosis Protocol V2 (Cowswap): CowSwap is a meta-DEX aggregator that allows traders to buy and sell tokens using gas-less orders that are settled peer-to-peer among its users or into any on-chain liquidity source (such as Balancer, Uniswap, Sushiswap, and aggregators, such as 0x, Paraswap, and 1inch) while providing miner extractable value (MEV) protection.
GnosisDAO: GnosisDAO is a collective that uses Gnosis products to transparently guide decisions on development, support, and governance of the Gnosis ecosystem. GNO token holders will be able to vote on the selection of ecosystem projects that should be funded with the community treasury (150K ETH and 8MM GNO tokens as at time of writing). Movement of community treasury funds will need to be approved by GnosisDAO.
Gnosis Safe: Gnosis Auction is a platform for conducting fair, transparent, and decentralized token price discovery. The platform uses batch auctions, which enables matching limit orders of buyers and sellers with the same clearing price for all participants. Bidders can place limit orders at any time while waiting for the auction to reach their desired price.
Gnosis Auction: Similar to the traditional dutch auction model, however bidders can place limit orders at any time during the auction while waiting for the auction to reach their desired price. Gnosis Auction is live on Ethereum mainnet and xDai.
The project raised $12.5MM USD in ETH from a public token sale at a price of 0.6 ETH / GNO on April 24th 2017.
As at August 30th 2021, the total supply of GNO is 10,000,000 and the current circulating supply is 1,504,587 (~15.04% of the total token supply).