2 years ago
Airdrops, going 'multi-chain' and monolithic multi-million dollar developer incentives were immoderate of the cardinal selling and rebrand tactics blockchain projects utilized successful 2021. This inclination appears acceptable to proceed successful 2022 and Gnosis (GNO) appears to beryllium jumping connected the bandwagon.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a debased of $219 connected Jan. 24, the terms of GNO has enactment connected a summation of 57% to deed a regular precocious of $351 connected Feb. 14 arsenic the Gnosis concatenation begins to marque its people successful the decentralized concern sector.
GNO/USDT 4-hour chart. Source: TradingViewThree reasons for the bullish reversal successful GNO terms see the protocol's rebrand to CoW protocol, the motorboat of respective absorbing proposals, including 1 that would pain a ample information of the circulating GNO proviso and respective large integrations that person helped summation the liquidity and entree to the Gnosis ecosystem.
Gnosis rebrands to CoW Protocol
The astir important improvement for Gnosis successful 2022 has been the protocol's rebrand to the Coincidence of Wants Protocol, besides known arsenic CoW.
The impetus down the alteration was the rising popularity of CowSwap, a decentralized speech that was the archetypal interface built connected Gnosis Protocol.
As portion of the rebrand and afloat motorboat of CowSwap, GNO holders person the accidental to fastener their tokens connected the protocol for 1 twelvemonth successful bid to person an airdrop of vested COW (vCOW) tokens, the autochthonal token connected CowSwap.
The airdrop is besides disposable to Gnosis Beacon Chain (GBC) validators and each airdrop participants volition beryllium qualified to person aboriginal airdrops, specified arsenic the recently launched Gnosis Safe. GNO stakers volition besides beryllium allowed to opt-in for liquid staking connected Gnosis Chain erstwhile liquid staking becomes available.
GnosisDAO proposals
A 2nd origin helping stoke the momentum for GNO has been a fig of proposals focused connected bringing astir large changes wrong the Gnosis ecosystem.
The astir caller connection submitted by the Gnosis squad is designed to found SafeDAO and motorboat a SAFE token that tin beryllium utilized to govern the Gnosis Safe ecosystem and infrastructure.
The connection besides seeks to acceptable up an autarkic Safe Foundation successful Switzerland that volition support strategical off-chain assets, contented a "SAFE" token and assistance turn the Gnosis Safe ecosystem.
There is besides a connection presently disposable for remark that asks the assemblage if the GnosisDAO should pain 68% of the circulating proviso of GNO to assistance amended the economics of the token and springiness much voting powerfulness to GNO holders.
Should the GnosisDAO pain 68% of the full GNO Supply?
Leave your remark successful this proposal!https://t.co/V8O72PRkGc@gnosisPM @gnosischain @GnosisGuild @gnosisSafe @MEVprotection
Related: 1inch Network expands to Avalanche and Gnosis Chain
New mergers and integrations
A 3rd crushed for the summation successful GNO terms has been the enlargement of the Gnosis ecosystem which has helped summation entree to the GNO token arsenic good arsenic enactment connected the network.
Recent notable collaborations see integrations with the decentralized speech aggregator 1inch and the backstage transaction protocol Tornado cash, portion the protocol’s aboriginal December merger with xDAI helped found the Gnosis Chain.
— Gnosis Chain (@gnosischain) December 12, 2021VORTECS™ information from Cointelegraph Markets Pro also began to observe a bullish outlook for GNO connected Jan. 22, anterior to the caller terms rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic examination of humanities and existent marketplace conditions derived from a operation of information points including marketplace sentiment, trading volume, caller terms movements and Twitter activity.
VORTECS™ Score (green) vs. GNO price. Source: Cointelegraph Markets ProAs seen successful the illustration above, the VORTECS™ Score for GNO deed a precocious of 76 connected Jan. 22, astir 48 hours earlier the terms began to summation 61% implicit the adjacent 2 weeks.
The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.
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