Gnosis (GNO) is a decentralized platform built on the Ethereum blockchain, providing tools for prediction markets and secure digital asset management. Founded in 2015, this platform has grown significantly, attracting interest from the DeFi community.
To learn more about Gnosis and related information about the project, please follow the content of this article by AZcoin!
What is Gnosis (GNO)?
Gnosis (GNO) is a decentralized project built on the Ethereum platform. It provides a solution that allows users to predict the outcomes of future events or participate in prediction markets. From a simple idea, Gnosis has evolved into a pioneering project in the prediction market space by integrating blockchain technology and artificial intelligence.
Gnosis development team and investors
Development team
The Gnosis development team is composed of experienced and talented individuals in the technology field. Some notable members include:
- Martin Koppelmann (CEO)
- Stefan George (CTO)
- Friederike Ernst (COO)
Koppelmann and George are also early partners of Consensys.
Investors
The Gnosis project has attracted investment from prominent investors, including Hyperchain Capital and Kenetic Capital.
How does Gnosis work?
Gnosis offers three main products for GNO users, each operating on distinct layers to provide an optimal experience:
- Gnosis Core Layer: Provides fundamental smart contracts for the Gnosis system.
- Gnosis Services Layer: Supplies resources for consumer applications such as chatbots and stablecoins.
- Gnosis Applications Layer: Hosts user interface tools primarily for specific prediction markets or selectively chosen customer segments, including applications developed by both Gnosis and third parties.
The Apollo network, Gnosis’s prediction market, allows users to create markets for any event and trade positions to predict outcomes. When the event concludes, tokens representing the final outcome receive the entire betting pool, while remaining tokens become worthless.
Outstanding features of Gnosis
Gnosis stands out with several features:
- Open Framework: Gnosis serves not only as a platform for creating and trading prediction contracts but also enables developers to build applications and services through the Gnosis API.
- Ring Trade: Gnosis employs a ring trade model to reduce transaction costs and increase flexibility for users. Instead of executing multiple separate trades, users participate in a circular trading loop.
- Pricing Mechanism: Gnosis utilizes a decentralized pricing mechanism that allows users to freely set values and conditions within prediction markets.
Basic information about GNO Token
Key Metrics GNO Token
- Token Name: GNO Token.
- Ticker: GNO.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x6810e776880c02933d47db1b9fc05908e5386b96.
- Token Type: Utility.
- Total Supply: 10,000,000 GNO.
- Circulating Supply: 1,104,590 GNO.
GNO Token Use Case
The main purpose of the GNO token is to create the OWL token, which is used within Gnosis smart contracts and is pegged to 1 USD in value. OWL serves primarily the following purposes:
- Transaction fees: OWL is used to pay transaction fees on the Gnosis Protocol and gas fees on the Gnosis Safe platform.
- 50% liquidity provision fee reduction: On the DutchX trading protocol developed by Gnosis, OWL helps users reduce liquidity provision fees by half, from 0.5% of the total transaction volume to 0.25%.
GNO Token storage wallet
Similarly to Chiliz coin and Flare coin, GNO (Gnosis) can be stored and managed using wallets like MyEtherWallet, Ledger Nano S, and Trezor.
GNO Token’s trading platform
GNO has been listed on several top best crypto exchanges such as Binance, OKEx, Huobi Global, and Bitfinex. Users can trade GNO on these exchanges to participate in trading and investing in this project.
Should you invest in the Gnosis project (GNO)?
Based on the information above, it can be seen that Gnosis is a project with potential and impressive development in the field of market prediction. The experienced development team, along with support from reputable investors, has established a solid foundation for Gnosis’s growth.
Additionally, Gnosis features unique and innovative characteristics that bring value to users and the cryptocurrency community. However, it’s important to note that investing in any cryptocurrency carries risks, so users should thoroughly research the project and its privacy policy before making investment decisions.
The end
In summary, with a solid technological foundation and support from the community, Gnosis promises strong future development. For more detailed information and the latest updates on Gnosis, you can refer to articles from AZcoin!
I am Louis Dang, living in Ottawa, Canada. I am currently working as a trader for AZCoin company, with 7 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
