We would like to announce that SEEDGov supports GIP-110: Should the Gnosis DAO create and fund a Gnosis Pay rewards program with 10k GNO?
Rationale:
Implementing this cashback program shouldn’t be considered just a competitive necessity but also a strategic opportunity. Many other payment services and financial platforms have already capitalized on cashback incentives, giving them a comparative advantage in attracting and retaining users. With a similar program, Gnosis Pay could effectively dispute this advantage, offering a compelling alternative that rewards users directly for their loyalty and engagement.
From SEEDGov, we believe the program is worth pursuing at least as an experiment, and we are confident it will deliver good results in terms of transaction volume and user retention. Although, its success will ultimately be measured by its impact on new users and adoption metrics—especially if paired with a targeted marketing campaign. This initiative potentially positions Gnosis Pay to compete head-to-head with established players, strengthening its foothold in the market and ensuring that it remains a top choice for users seeking both value and innovation.
That said, we have some comments about the approach. It’s important to note that:
- There are many off-ramp solutions in Europe without needing non-custodial options or incentives. Convenience is usually the main driver. Right now, Gnosis Pay’s UX isn’t as user-friendly, as others have pointed out, bridging to Gnosis Chain itself can be difficult too and the exchange rate is not always very favorable (Given the liquidity). We believe these incentives could be more effective if used to enhance accessibility and usability first.
- Additionally, the geographical limitations on the user base are a significant barrier that should be addressed before launching a cashback campaign.
In summary, while this is worth it as an experiment, there are foundational considerations that should be addressed to maximize the effectiveness and reach of the cashback program.
Conclusion
We have decided to vote FOR the GIP-110.