Gnosis

Gnosis is an infrastructure project that began with prediction markets in the Ethereum ecosystem and gradually took shape around its own blockchain, Gnosis Chain. GNO is a governance and staking token issued under the Ethereum token standard that can be bridged to Gnosis Chain. Transaction fees on Gnosis Chain, however, are paid in the dollar-pegged xDAI.

Gnosis Chain runs on a proof of stake consensus similar to that of Ethereum, but those who want to become validators stake GNO instead of ETH. This design aims to lower the cost of running a validator and build a broader, more distributed validator set. GNO holders vote on treasury and ecosystem decisions through GnosisDAO. The ecosystem's products include Gnosis Pay, a debit card service linked to the user's own wallet. The widely used multisig wallet Safe was also originally developed within Gnosis before becoming an independent project.

The GNO price may be linked to transaction and staking activity on Gnosis Chain, user growth of products such as Gnosis Pay, management of the DAO treasury and general trends in the Ethereum ecosystem. The value tracked for Gnosis on Lzzo.com is compiled from GNO/USDT trades on Binance, converted into dollars at Coinbase Exchange's USDT/USD rate and shown in the chart with this series.