Airdrops, going ‘multi-chain’ and big multi-million greenback developer incentives had been a number of the key advertising and rebrand ways blockchain tasks utilized in 2021. This development seems set to proceed in 2022 and Gnosis (GNO) seems to be leaping on the bandwagon.
Knowledge from Cointelegraph Markets Professional and TradingView reveals that since hitting a low of $219 on Jan. 24, the value of GNO has placed on a achieve of 57% to hit a every day excessive of $351 on Feb. 14 because the Gnosis chain begins to make its mark within the decentralized finance sector.
Three causes for the bullish reversal in GNO worth embrace the protocol’s rebrand to CoW protocol, the launch of a number of attention-grabbing proposals, together with one that will burn a big portion of the circulating GNO provide and several other main integrations which have helped improve the liquidity and entry to the Gnosis ecosystem.
Gnosis rebrands to CoW Protocol
Probably the most vital improvement for Gnosis in 2022 has been the protocol’s rebrand to the Coincidence of Needs Protocol, also referred to as CoW.
The impetus behind the change was the rising recognition of CowSwap, a decentralized trade that was the primary interface constructed on Gnosis Protocol.
As a part of the rebrand and full launch of CowSwap, GNO holders have the chance to lock their tokens on the protocol for one yr to be able to obtain an airdrop of vested COW (vCOW) tokens, the native token on CowSwap.
The airdrop can also be accessible to Gnosis Beacon Chain (GBC) validators and all airdrop contributors can be certified to obtain future airdrops, such because the newly launched Gnosis Protected. GNO stakers may even be allowed to opt-in for liquid staking on Gnosis Chain as soon as liquid staking turns into accessible.
A second issue serving to stoke the momentum for GNO has been a variety of proposals targeted on bringing about huge modifications inside the Gnosis ecosystem.
The newest proposal submitted by the Gnosis crew is designed to ascertain SafeDAO and launch a SAFE token that can be utilized to manipulate the Gnosis Protected ecosystem and infrastructure.
The proposal additionally seeks to arrange an impartial Protected Basis in Switzerland that can defend strategic off-chain property, difficulty a “SAFE” token and assist develop the Gnosis Protected ecosystem.
There’s additionally a proposal at the moment accessible for remark that asks the group if the GnosisDAO ought to burn 68% of the circulating provide of GNO to assist enhance the economics of the token and provides extra voting energy to GNO holders.
— Karpatkey (@karpatkey) February 3, 2022
New mergers and integrations
A 3rd cause for the rise in GNO worth has been the growth of the Gnosis ecosystem which has helped improve entry to the GNO token in addition to exercise on the community.
Current notable collaborations embrace integrations with the decentralized trade aggregator 1inch and the personal transaction protocol Twister money, whereas the protocol’s early December merger with xDAI helped set up the Gnosis Chain.
The Gnosis Chain ⛓ (previously xDai Chain) journey begins!
♻️ STAKE to GNO swap software now reside on Ethereum and GC.
— Gnosis Chain (@gnosischain) December 12, 2021
VORTECS™ knowledge from Cointelegraph Markets Professional additionally started to detect a bullish outlook for GNO on Jan. 22, previous to the latest worth rise.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for GNO hit a excessive of 76 on Jan. 22, round 48 hours earlier than the value started to extend 61% over the subsequent two weeks.
The views and opinions expressed listed below are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails threat, it’s best to conduct your individual analysis when making a choice.