What is Gnosis?
Gnosis was initially started as a prediction market platform and was the first team to launch an application on top of Ethereum. However, the project has evolved and is now an ecosystem of open-source, decentralized applications.
Background
Martin Köppelmann and Stefan George founded Gnosis in 2015.
How Does It Work
The end goal of Gnosis is to allow users to securely create, trade, and hold digital assets on Ethereum. Some products that Gnosis has developed and incubated include Gnosis Protocol, Gnosis DAO, Gnosis Safe, Gnosis Auction, Gnosis Chain, and CowSwap.
$GNO is the native governance token of the Gnosis ecosystem. $GNO token holders can propose and vote on governance topics within the DAO. $GNO tokens can generate OWL tokens (stablecoin used for fee payment within the Gnosis ecosystem) by locking $GNO in a vault.
Key Takeaways
- It was started as a prediction platform on Ethereum. Gnosis has since expanded to its chain and a collection of apps under the Gnosis umbrella.
- $GNO is their primary governance token.
- Took over the xDAI chain.
