The community-run chain, one of the first Ethereum sidechains
What is Gnosis?
Gnosis is a decentralised trading protocol that utilises unique trading mechanisms to execute trades. These mechanisms are batch auctions, confidence of wants and signed order. Batch auction is a mechanism in Gnosis where orders are placed off-chain and bundled together in batches. Once a batch no longer accepts new order, it will be auctioned to solvers who will compete to provide matching orders to that batch. Confidence of Want (CoW) is when two parties agree to trade directly with each other due to matching orders, without going through liquidity pools or market makers. Gnosis protocol provide CoW in its multidimensional orderbook.
GNO token is a multi-utility token in Gnosis in which is used for governance and transaction fees. Holders will be able to signal (vote) in GnosisDAO Snapshot polls by holding a minimum of 1 GNO. Transaction fees are set at 0.1%. There is a maximum of 10 million GNO token.