⚔️ 🦉 Gnosis Chain Weekly · 21 January, 2022
Ushering in a new DeFi era
The Gnosis Chain has always been focused on the fundamentals - establishing a stable and secure base for smart growth. While others have grown extremely quickly over the past year (sometimes in a slash & burn kind of way), we’ve taken an approach that looks further ahead, creating a vision of a sustainable, DAO-focused environment built to compliment the Ethereum beacon ecosystem for many years to come.
It takes forward-thinking projects to realize the opportunities for growth that exist right now, and there’s no need to look further than the 1inch Network deployment this week to catch a glimpse of what’s to come.
1inch utilizes existing DEXs to find the best trading routes for users. Low fees on Gnosis Chain allow for more complicated (some might say “insane”!) routes, optimizing trades in a way that isn’t possible without huge costs on many other chains.
Available liquidity on Gnosis Chain is a challenge we are tackling, and 1inch is a DeFi engine built to propel growth of users, liquidity, and adoption. It now connects the entire DeFi ecosystem on Gnosis Chain, providing a seamless trading experience and ushering in a new era of DeFi on the GC!
Green Initiative
Sustainable growth also means minimizing environmental impacts. While the Gnosis Chain has always left a small footprint, we’ve taken it a step further this week to officially become a Climate Positive, Carbon Negative chain.
We’ve partnered with Offsetra to offset 10x of our monthly emissions, supporting quality, third-party certified projects with a range of additional social and environmental benefits.
Learn more here → https://offsetra.com/profile/gnosischain
GnosisDAO
Did you know anyone who holds GNO is a member of the GnosisDAO? That means you can actively participate in steering the direction of the chain and how treasury funds are used to promote adoption, growth, and sustainability.
GIPs are Gnosis Improvement Proposals, and they can be created and discussed by GnosisDAO members on the Gnosis Forum. We recommend familiarizing yourself with the forum and participating in the governance process. It’s how you have a say in what happens next with treasury funds!
Recent proposals accepted by DAO members
GIP-18 - Tick protocol investment: Tick is a hybrid cryptocurrency exchange powered by an off-chain, auction-based order matching system. DAO members voted to invest 120.7085 WETH in exchange for 12,500,000 TICK.
GIP-20 - Karpatkey DAO treasury management: Karpatkey is a DAO incubated through Gnosis Ltd. designed to grow and manage treasury funds. The DAO voted to entrust Karpatkey with DAO treasury management.
Active proposals in progress
These are active proposals you can participate in today!
GIP-19 - Burn 715k GNO: This is a proposal to burn GNO that is not needed for current operations. It will prevent stockpiling and reduce centralized supply. This proposal is currently accepting comments from the community.
GIP-22 - BalancerDAO & GnosisDAO partnership: The partnership aims to align the interests of GnosisDAO and BalancerDAO, by increasing the collaboration between both organizations including a Balancer Gnosis Chain integration. This proposal for Balancer to transfer 200,000 BAL / Gnosis transfer 9051 GNO is currently in the snapshot voting phase - ending Jan 28, 2020.
Cowswap Update
GIP-13 - CowDAO and COW Token: This proposal is now in phase 2 and covers many aspects of the Cow protocol including COW allocations and the airdrop to GNO Token Holders (snapshot from Jan 9). Expect to see this proposal moved to phase 3 and on on-chain vote starting in the next week. If this timeline holds (and the proposal passes), the airdrop would be expected around Feb 7-8, 2022.
Additional DeFi News
Projects are growing and offering unique reward propositions for protocol users. 1inch is the latest pillar for growth as DeFi continues to mature on the GC. Here is a brief rundown of additional highlights from the week:
Dehive Cluster staking program. is offering new staking rewards for ecosystem projects. Users receive incentives from an entire cluster of projects on Gnosis Chain including GNO, HNY, AGVE, MIVA, SYMM, ELK, DHV.
HOPR + SWPR: Farming is live! $HOPR and $SWPR rewards have started on the HOPR/XDAI pair on Swapr. Access here.
Agave continues to grow, reaching a new ATH TVL this week.
Decentralization Initiatives
Pre-configured hardware nodes are a great way to increase decentralization. They can be run by anyone, anywhere - and with the low barrier of entry on the Gnosis Beacon Chain(1 GNO required per validator), many more individuals can participate. DappNode is already providing hardware for many node runners, and this week Avado offered an incentivization program with overwhelming response (the initial 35 orders were filled in 10 minutes along with a 100+ person waiting list!). We look forward to more initiatives from hardware providers to bring node decentralization across the globe!
The Gnosis Beacon Chain continues to add validators as deposits increase on a daily basis.
Real World Use Case
DeFi is a powerful use case, but blockchain and decentralized technology offers so many more opportunities. This week Etherisc — the decentralized insurance protocol and ecosystem — launched FlightDelay on Gnosis Chain Mainnet. The protocol uses Chainlink Data Feeds for policy issuance and payouts for delays or cancellations. If you are taking a trip soon (EthDenver anyone?!!) consider giving it a try! Learn more here.
Now Hiring
As growth continues we continue to look for members to join the team! Please check out our latest positions and apply, or forward to a friend. We have a community getting stronger by the day, and are looking for more great team members to contribute and grow right along with us.
See you on-chain,
The Gnosis Chain team
