How about an NFT distributed to xDai refugees entitling us to a larger share/multiplier of future GNO rewards?
Is it okay to keep the gno in the wallet for airdrop?
The GNO lock contract is available:
5% of COW tokens will be distributed as a vested airdrop to GNO holders who commit to holding their GNO for 1 year.
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Not sure if itâs the right topic here but imo it regards utility and value of gno: Is there any reason my gno staked in a validator isnât elegible to participate in the dao votings? Do I need to have gno somewhere else to participate?
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This is coming, see GIP-28: GIP-28: Allow GNO holders to vote even if their GNO are invested/staked/locked in Smart Contracts in different protocols/networks - #17 by StefanGeorge
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Now that the xDAI burn rate gets traction again, is there a plan to burn gno or how shall the funds be used?
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Absolutely, @refriâs initiation of this discussion is indeed pivotal, especially when considering the broader adoption of Gnosis Chain.
The aspect of not yet having the âUltrasound Moneyâ label is significant. Even if the current amounts involved arenât enormous, the symbolism and strategic messaging that comes with adopting such a label are crucial.
In the world of cryptocurrency and blockchain, perception and branding often play a significant role in adoption and trust. Being associated with âUltrasound Moneyâ not only signals a commitment to scarcity and long-term value but also positions the Gnosis Chain as a forward-thinking and financially prudent entity.
In essence, while the immediate financial impact might not be huge, the long-term benefits of aligning with concepts like âUltrasound Moneyâ could be substantial in terms of market positioning, user trust, and overall ecosystem growth.
Here are some key-points, why GNO should become âUltrasound Moneyâ:
Navigating in a Competitive Space: Itâs important to note that the blockchain landscape is much more competitive than it was a few years ago. Gnosis Chain needs to push its marketing and strategic initiatives forward to stay relevant. The concept of âUltrasound Moneyâ, which focuses on scarcity and value preservation, offers a significant edge in this environment. By adopting this approach, Gnosis Chain can distinguish itself in a crowded market and draw more attention and engagement from both current and potential stakeholders. This could also attract more users and developers, who are looking for platforms demonstrating both innovation and stability.
Reduced Token Supply: Burning GNO tokens decreases the total supply, potentially upping the demand and leading to an increase in value. This bolsters the Ultrasound Money concept by creating a deflationary environment.
Network Security: Burning tokens via xDAI transaction fees could motivate network participants to engage and support the network, enhancing its security.
Long-term Stability: Continuous token burning might contribute to price stability by reducing inflationary trends.
Economic Sustainability: A deflationary system strengthens the Gnosis Chainâs currency and promotes economic sustainability.
A sustainable approach to this burning process could involve buying and burning GNO only when the price falls below a long-term moving average, say 24 months (buy back should happen slowly over a period of 365 days after it started). This would foster long-term price stability for GNO tokens (Crypto will always have some kind of fear and greed cycles), signaling that Gnosis Ecosystem is here to stay and strategically aligned. These combined efforts could help strengthen the GNO ecosystem in the long run and cement Gnosisâs position as a key player within the future blockchain world.
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thank you @m3rlin5ky and @refri for your inputs.
I agree - while the amounts are still small (see: https://dune.com/filoozom/gnosis-burned-fees) it is important to signal that further increased usage of Gnosis Chain should have a clear effect on the value of GNO.
Technically âburnedâ xDAI is send to a Safe controlled by Gnosis DAO. It should not be hard to place an e.g. programatic cowswap order from that Safe that will automatically buy GNO and send the GNO to a burn address.
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