What is Gnosis (GNO) Coin
Gnosis is focused on building a prediction market platform on Ethereum. The platform effectively aggregates all relevant information about any future event’s outcome from the open market via oracles, while ensuring decentralization and access to global liquidity. Gnosis offers a variety of products including Gnosis Safe, Gnosis Protocol, and GnosisDAO, allowing users to create, trade, and hold digital assets on Ethereum.
GNO is the utility and governance token of the platform and has the following use cases:
- Governance: Users can vote on network governance proposals via the GnosisDAO. A minimum of 1 GNO is required to participate.
- Protocol fee: On each trade, the Gnosis DEX protocol charges a 0.1% trading fee. Users can pay the fee using GNO tokens.
- 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: A second-iteration DEX (CowSwap) that leverages batch auctions to offer miner extractable value (MEV) protection, and integrating with liquidity sources across other DEXes (i.e. Balancer).
- Conditions Tokens Framework: A token minting mechanism that generates event-based tokens that are directly pegged to the outcome of an event.
- GnosisDAO: GNO token holders can vote on treasury funds (150K ETH and 8MM GNO tokens as at time of writing). Movement of treasury funds will need to be approved by the GnosisDAO.
- Gnosis Safe: A smart contract wallet running on Ethereum that requires a minimum number of signatories to approve a transaction before it can occur. Users can interact with web 3.0 applications and DeFi protocols directly from the Gnosis Safe platform using the WalletConnect Safe App.
- 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.
How To Buy Gnosis (GNO) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Gno coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
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How Much is a Gnosis (GNO) Coin
Gnosis (GNO) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Gnosis (GNO) Coin Review
You can learn more about Gnosis (GNO) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://gnosis.io/ Github https://github.com/gnosis Medium https://blog.gnosis.io/ Discord https://chat.gnosis.io/