GIP-35: The target total supply should be 3M GNO?

Thank you for this proposal @smenaamix! I largely agree with some alternative suggestions.

Some comments:

A large amount of non-circulating GNO tokens is indeed a red flag for investors. I agree GNO token holders should send a strong signal about their view on the token supply and future emissions. In our own estimations, there won’t be a need for more than 3M GNO in circulation.

We could make a proposal to GnosisDAO to withdraw enough GNO tokens once to match the 3M GNO token supply with the goal of not touching the vesting contracts after this withdrawal again. This would be a soft-burn as the tokens are in theory still available but there is social consensus among GNO holders that they should not be touched. The total supply would be reduced to 3M GNO.

This is similar to many other DEFI protocols, which have a target total supply but still have a minting function in their ERC20 token to increase supply in case this is needed.

After the vote passes the total supply and the fully diluted valuation could be updated on websites like Coingecko and Coinmarketcap to reflect the GNO holder’s perspective.

Regarding the voting power of GnosisDAO: GnosisDAO cannot vote itself on Gnosis proposals or could do so only via a proposal itself, which doesn’t make too much sense anyway.

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