The goal of this proposal is to kickstart discussions about drastically reducing the total GNO supply.
This GIP would improve economics and clarity of GNO rules by burning 68% (6.8MM GNO) of the total supply (10MM GNO). It would also formally veto the GnosisDAO treasury for voting, giving more voting power to GNO holders.
We have been discussing the GNO distribution problem for a long time:
A wider distribution can be achieved with the right set of rules and economic incentives that would attract investors who understand GNO’s potential. A straightforward measure is to burn 68% of the GNO supply, reducing it from 10MM to 3.2MM GNO.
Clear rules for GNO economics will attract new investors: Greatly reduced uncertainties about future emissions impacting the secondary market and potential execution risks
Empower current GNO token holders and multiply the representation of new GNO community members: Increase more than 3X the ownership and voting power
Gnosis 2.0 as the future of decentralised teams: Given the current vision of future rewards for GNO token holders with project tokens, the need for new GNO is reduced.
Noncirculating GnosisDAO vesting: 6.8MM GNO. These are the GNO vesting from the original GnosisDAO announcement: 8MM GNO, vesting for 8 years. This proposal intends to burn this amount.
Non Circulating Gnosis Ltd vesting: 0.4MM GNO
Non Circulating GnosisDAO available: 0.5MM GNO. GNO already vested, without considering the GIP-16 commitment.
Non Circulating GC incentives GIP-16: 0.4MM GNO. Incentives program proposed in GIP-16 for the Gnosis Chain
Circulating Treasury: 0.25MM GNO. GNO holdings on the GnosisDAO treasury, used for market making and DeFi strategies. Most of these GNO were acquired in the open market and OTC deals during the last 2 years. See GIP-20 for more information.
Circulating Non-treasury: 1.6MM GNO. Circulating shown on Coingecko, discounting the treasury holdings.
Note: This is an approximation and it does not consider any future proposal that the teams and core units may be working on right now.
Would you support this proposal? Would you rather distribute GNO in a different way?
Let us know!