The governance forum for GnosisDAO and the Gnosis ecosystem — propose and debate Gnosis Improvement Proposals (GIPs), follow treasury and delegate updates, and help shape what comes next.
Gnosis Ltd. is a core contributor to Gnosis Chain, develops and drives the product ecosystem, delivers marketing & growth and provides operational support to the GnosisDAO.
On April 15th at 3pm UTC, Gnosis Ltd. leadership will host a public Q1 update and AMA.
The session will be streamed through the Gnosis Discord and Youtube, links will be circulated closer to the time. Share your questions in the comments below and they’ll be answered during the session!
The proposed EEZ approach uses ETH as the common gas token. Should Gnosis Chain join the EEZ, would this mean abandoning xDAI as the gas token?
Given Gnosis Chain is the most decentralized chain after Ethereum mainnet it makes it the only non censorable chain with a stablecoin as its gas token. The trend seems to be towards more chains with a stablecoin as their gas tokens (think Stable / Arc / Tempo / Lens), not fewer, so wouldn’t a move to ETH as the gas token somehow be a move backwards?
As a builder on Gnosis Chain (MoneroSwap, atomic swaps between xDAI and Monero), I would consider this move a great loss for the overall Cypherpunk Ethereum ecosystem.
last time ama you mentioned that gnosis ltd sold some investments. how does it benefit gno holders?
in general what is your plan to increase gno price?
Changing the fee token is an absolute nightmare in terms of backwards compatibility of smart contracts, so no, I don’t see Gnosis Chain changing the fee token!
Hi team. As a delegate representing over 20 entities, I have a few questions regarding resource allocation, transparency, and strategy.
1. Gnosis App & Metri:
How many people are working on the Gnosis App, and for how long in total? (including its previous iteration, Metri)
Fundamentally, a web app will never be as successful as a true native mobile app. Whenever I want to demo Gnosis Pay to people, I use Zeal because it simply works.
2. Circles:
Circles is undeniably a fantastic idea in theory, but it feels like it’s missing something crucial, which is likely why it hasn’t succeeded. Integrating it directly into the app just confuses normal users and makes them feel the product isn’t for them. Looking at Circles overall, it simply hasn’t caught on in the real world. Why keep spending time and money on it instead of just shutting it down?
3. Gnosis Pay:
More generally, how is Gnosis Pay doing? How much has the development and overall investment into this product cost so far?
4. Gnosis Chain:
How do you see the future of GC specifically within the context of EEZ?
5. Safe & Account Abstraction:
Gnosis is the original creator and a major shareholder of Safe. With the massive new market opened by EIP-7702 and ERC-4337, is the Safe team actually fighting to capture this new retail AA space, or are they just sticking to their whale and institutional niche? How does Gnosis view their drive to compete here?
6. Leadership Transparency:
Since operations are funded by the DAO treasury, we need transparency closer to public company standards. Will leadership disclose their compensation structures and personal GNO token holdings? It is crucial for the rest of the community to know how much ‘skin in the game’ the leadership actually has.
7. Buybacks & VC Portfolio:
What is the volume of buybacks executed so far? Secondly, after more than two years of asking, when will GNO holders finally get a full, public breakdown of the VC investment portfolio? We really need to see the details—specifically how much was invested into what, which projects are dead, and what still holds value (at least approximately).
Echoing all the questions @gno-investor raised, excellent summary of the main issues.
It’s also very concerning that GIPs 143 and 148 passed, gave a clear mandate to relevant representatives to put tokenholders first, and we seem to have regressed away from that vision with patchy buybacks whose methodology follows only the rhyme and reason of Gnosis Ltd’s cofounders, and no mechanism for tokenholders to realize the value of their own assets represented by the NAV per circulating GNO (excluding DAO and Ltd owned GNO, which is all beneficially owned by GNO holders), let alone the additional value attributed to Gnosis’ products, organisation, and enterprise.
This will need to change in order to avoid further governance intervention akin to GIP-143, so I would love to hear more about how Ltd plans to address this lack of regard for tokenholders, and work towards narrowing the gap to NAV rather than it increasing as it has over the last few weeks.
There is one singular acceptable methodology for calculating NAV, and one singular way to close the gap. It is not a subjective exercise.
Question 1 - Gnosis Pay: Growth Has Stopped
The Dune dashboard shows weekly card volume peaked around $2.5M and has settled at roughly $2.1M. But the critical point isn’t the modest decline, it is that growth has completely flatlined for months. This plateau is happening during an active cashback programme funded by Gnosis Ltd through June 2026, meaning users are being paid to use the product and volume is still not growing. For a product positioned as the breakthrough use case justifying $30M/year in DAO funding, this is concerning.
What is Gnosis Ltd’s explanation for the growth stall, and what is the projected weekly volume if the cashback programme is not renewed after June 30th?
Question 2 - NAV Gap: Widening, Not Narrowing
GIP-146 passed Phase 2 with 87% support because GNO holders cannot assess the intrinsic value of what they own. Since then, the discount to NAV per circulating GNO has been widening, not narrowing. Despite GIP-143 and GIP-148 giving a clear mandate to put tokenholders first, there is still no published NAV, no mechanism for tokenholders to realize value, and the gap keeps growing.
Will Gnosis Ltd commit today to publishing a quarterly NAV per circulating GNO (of course excluding DAO-held and Ltd-held tokens) starting this quarter, and what concrete steps are being taken to narrow the discount rather than let it widen further?
Question 3 - The $30M Budget vs. Revenue Reality
Gnosis Ltd received its first quarterly tranche (~$7.5M) in Q3 2025, so we’re now roughly $22.5M into GIP-128’s mandate. Across all funded products (Pay, Chain, Business, App, Circles, VPN, AI) the community has seen transaction volume figures but no revenue disclosure.
What is the total actual revenue generated across all Gnosis Ltd products since GIP-128 funding began, and can you provide a per-product cost allocation for the $7.5M quarterly spend?
Question 4 - VC Portfolio: Two Years Without Disclosure
The DAO treasury holds significant off-chain venture and VC fund positions through GnosisVC and related entities. Full disclosure of these holdings has been requested for over two years. GIP-146 specifically mandated consolidated valuations for illiquid assets, yet nothing has been published.
Can you provide today - even at a summary level - the top 10 off-chain investments by cost basis with a current status (impaired, at cost, or marked up)? Can you also share the methodology and valuation basis for these illiquid investments?
Question 5 - Accountability for Renewal
GIP-128 was structured as a renewable annual mandate with quarterly reporting. We are three quarters in, yet there has been no quarterly report containing product-level P&L, cost allocation by business line, or measurable KPIs against which renewal should be judged.
What specific, measurable milestones does Gnosis Ltd commit to achieving before GIP-128 comes up for renewal, and will the team publish defined pass/fail renewal criteria agreed with the DAO before that vote?
I attended the recent AMA, but I didn’t get a strong community feeling—it came across more like a company update than a community-driven conversation. Overall, I feel the sense of community within Gnosis is missing.
I’d love to see more tools that foster real community collaboration, beyond just Snapshot and the forum. For example, a brainstorming or decision-making app where users can stake GNO (minimum $1) to propose questions to the community, such as:
“How can we get more users to pay?”
“What’s the main driver for users to become paying customers?”
With tools like this, decision-making could become more decentralized and inclusive. The more transparent the dao the more the community can participate. we are free brainpower use us much more!
During the last AMA, it was mentioned that Gnosis Ltd. sold some of its investments. Could you clarify where that money went and how it benefits GNO holders?
I’m also surprised that Gnosis Pay is underperforming. What do you see as the main reasons for this? In my opinion, users are looking for an experience similar to any other neobank. The onboarding process needs to be much simpler.
Here’s what I envision:
Order a card
Download the app
Log in with simple credentials
Deposit funds from a bank account
Start earning yield on stablecoins immediately
I believe stablecoin yields could be a major selling point for Gnosis Pay. Is that the core value proposition, or do you see other key drivers?
