Gnosis (GNO) Crypto Exchange
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What is Gnosis (GNO)
Gnosis is an Ethereum-based market prediction protocol. It was created in 2015 by Martin Koeppelmann and Stefan George, who in the past founded a market prediction protocol for Bitcoin. Gnosis allows users to trade crypto assets that represent event outcomes. Once the outcome is established the said assets either gain or lose value.
Gnosis relies on three platforms to provide its services: Apollo, a prediction market platform, DutchX, a DEX, and Gnosis Safe, a cryptocurrency wallet. Additionally, the protocol’s architecture consists of three layers: the core layer, the service layer, and the applications layer. The Gnosis network has two tokens in circulation: GNO and OWL. OWL, formerly known as WIZ, is used to pay fees and is pegged to the U.S. Dollar. In order to generate OWL, users have to stake GNO. GNO is an ERC-20 token that can be used to earn rewards in exchange for locking the tokens for a period of time.
In May 2022, the Gnosis network announced the launch of the Safe Guardians Program. Safe Guardians are active contributors to the Safe ecosystem. Now that Gnosis Safe is planning to become an independent entity, the network has opened applications for the Safe Guardians program which will empower the Gnosis users and reward the contributors mentioned above.
