As Gnosis advances its vision of full-stack decentralization, the DAO has approved a significant treasury proposal (GIP-116) proposed by karpatkey that includes one of the largest GNO burns to date. The proposal’s centerpiece - the burning of 3.15M GNO tokens from the vesting contract - represents a meaningful step in GnosisDAO’s commitment to sound tokenomics.
The decision for this GNO burn was mandated almost three years ago when GIP-35 fostered a commitment to a total supply of just 3M GNO—a 70% decrease from the original total. However, as 80% of the supply was locked into an 8-year vesting contract in November 2020, it was not possible to execute the planned burns all at once. GIP-116 reflects the latest efforts to follow through on this mandate, bringing the total burned close to 4M GNO and past the halfway mark.
Beyond the GNO burn, GIP-116 encompasses several strategic treasury operations that strengthen the DAO’s position which karpatkey will execute:
- Claiming accumulated rewards including Gelato (GEL) tokens and COW tokens from VCOW
- Strategic management of DeFi positions, including WETH withdrawals from Aave
- Asset consolidation, transferring FRAX, COW, WBTC, and stETH to the treasury
- Infrastructure improvements with the creation of delegates.gnosis.eth subdomain
The delegates.gnosis.eth subdomain creation supports recent governance improvements outlined in GIP-112, enhancing the DAO’s ability to coordinate effectively.
This treasury action comes at a pivotal moment for Gnosis. As we scale our consumer-facing applications while maintaining our commitment to decentralized infrastructure, efficient treasury management becomes increasingly crucial. The substantial GNO burn demonstrates our continued focus on long-term sustainability and value alignment across the Gnosis ecosystem.
https://x.com/GnosisDAO/status/1885024538884530183
Additionally, the GnosisDAO has made significant strides in governance and treasury management with the recent passing of GIP-120.
With GIP-120, the DAO has officially approved the $7M–$8.95M acquisition of Headquarters (HQ.xyz) to accelerate Gnosis 3.0. This acquisition aligns HQ’s growth with Gnosis’s ecosystem, enabling tighter integration with Gnosis Pay, expanding Gnosis’s presence in Asia, and ensuring long-term value accrual to the GNO token through structured token vesting.
As always, join the discussion on our forum and Discord to help shape the future of Gnosis & check out our new DAO resources!