Gnosis is an open-source, decentralized prediction market. This Gnosis price prediction explores the project scope and takes a dive into the market price movement for our yours.
Gnosis is built upon the Ethereum blockchain, such that the Ethereum protocol guarantees a transparent and secure ecosystem for it. Its users can create markets for speculation on any event or arbitrary outcome. The Gnosis protocol aimed to provide the most efficient forecasting tool in the world to make an unprecedented shift in the paradigm. This also happens with standardizing a global pattern for prediction markets.
Gnosis Initial Coin Offering (ICO) occurred using a reverse Dutch auction with a $12.5 million cap on sale. The majority of the tokens go to the Gnosis team on the basis of a sliding scale varying with the time of sale, and only five percent of tokens got actually released to the buyers due to the structure of the sale.
Rushing with the fear of missing out (FOMO) as 90% of the pre-sale supply was already allocated to the Gnosis team, buyers purchased the whole supply of $12.5 million within the initial three hours. The team agreed to lock the tokens for a year after watching such tremendous demand in the pre-sale. This was done to alleviate buyers’ concerns regarding the team liquidating their holdings.
Gnosis provides the integration of unconventional products and tools for conventional blockchain enthusiasts. Anyone can use prediction market tools for utilizing customized forecasting applications to make any arbitrary event tradeable. It also delivers a decentralized exchange and Gnosis Safe for secure management of digital assets. Gnosis becomes even more special due to three interoperable product lines and an active global team.
There are a series of smart contracts on the Gnosis platform. They are built on the Ethereum platform, and the Ethereum network makes its security equivalent to themselves using the nodes and miners through the Proof-of-Work mechanism. The regular audits on the Gnosis platform further ensure the security and validity of the code in their smart contracts complying with the current Ethereum framework.
Gnosis token attains value after the revelation of events unfold and outcomes on the basis of prediction by the user. The goal is to build an infrastructure to allow forecasting, spreading information, and making predictive assets in the market using many decentralized applications. They believe in themselves to build reliable forecast tools containing applications that make decisions in finance, insurance, government, and other fields. This is done by giving access to a party on the platform and collecting public opinion in an uncensored source.
Gnosis (GNO) Fundamental Analysis
The decentralized application of Gnosis is a prediction market platform found in January 2015. It was designed to let users speculate on an event, such as a victory or loss of a sports match or a local election. This platform offers a unique and secure experience to users for operating on a decentralized network and creating their own markets. Their mission concentrates on the construction and experimentation of a decentralized system for the Ethereum ecosystem, as it is a necessity for the prediction market platform.
Gnosis provides worldwide sources of accurate information focused on making prediction markets for its users. Being a DAO, it uses its own products to make transparently guide decisions for supporting, developing, and governance the ecosystem.
Several products incubated by Gnosis are Gnosis Safe, Cow Protocol, Conditional Tokens, Gnosis Auction, and Zodiac. They basically get success with the spin-out of Cow Protocol and the creation of SafeDAO. Gnosis has established its Ethereum-based decentralized ecosystem by collaborating the required development with its technological expertise. Major services provided by the platform are:
- Apollo is the prediction market platform on Gnosis for the users to make markets or digital assets on the Apollo network. Users can access the Apollo network from the official website of Gnosis. Tokenized assets are the tokens created by users that represent real assets or many types of information, such as investment strategies. Users can access the Apollo network from the Gnosis website.
- Dutchx, decentralized exchange (DEX), supports ERC-20 tokens to be added to any token pair by any user. It is available on the Gnosis homepage. It avoids low liquidity issues, front running, and third-party risk using the Dutch auction format.
- Gnosis Safe is a secure multi-sig wallet used by individuals or teams for handling cryptocurrency assets. It can be accessed using the Gnosis Safe website or by the web app. It offers additional functions other than a traditional wallet, including the ability to require multiple signatures for funds transfer. Hence, the fund management or payroll becomes secure and convenient for teams using it.
- The Gnosis chain is the associated execution layer EVM chain for stable transactions. It uses xDai tokens and includes various projects and users.
- GnosisDAO builds a decentralized infrastructure for the Ethereum ecosystem. In November 2021, both the xDAI community and the GnosisDAO community resolved to combine dynamic ecosystems to create a Gnosis chain.
How does Gnosis Work?
Gnosis uses its three basic products, which are Apollo network, Gnosis Safe, and Dutchx, to achieve its vision. Other than that, there are three layers in Gnosis that provide proper functioning to users. First is the Gnosis Core Layer, which offers the foundational smart contracts to the platform.
The second layer is Gnosis Service Layer to provide resources to consumer applications. It also serves protocol tools like chatbots and stablecoins.
The last one is the Gnosis Applications Layer, which has fundamental front-end tools to deal with specific prediction markets or choose customer segments. Gnosis builds some of the applications, while the others are built by 3rd parties.
The prediction market in Gnosis is known as ‘The Apollo Network’ that facilitates the creation of a market by a user for any arbitrary event. In such markets, users can buy and sell positions to present they’re speculate on the results. With the passage of time and relevant events occurring, predictable outcomes have chances to take place that lead to the increase in value of the linked tokens. At the end of an event, the tokens that represent the final outcome get the full rewards of the best. Other tokens related to the other outcomes lose all their worth.
The GNO token serves to manage and maintain the Gnosis network. It had its initial coin offering on April 24, 2017, with ten million tokens generated. They never planned to or will plan to generate more tokens in the future. Users can purchase them from the secondary market. Users holding GNO tokens can use their smart contracts, transactions on the network, and participation in governance votes. They get to participate in various activities ongoing in the Gnosis network, especially in the market events and speculation on the basis of this token. Gnosis uses information discovery to give extra value to these users. However, the GNO token does not provide the facility to stake or yield farming.
Another token called ‘OWL’ is allowed in Gnosis. Gnosis had rebranded the previous token named WIZ to OWL tokens while redesigning their website. Gnosis adjusts OWL distribution to maintain its peg with US Dollar because one OWL token is worth $1. It is created when users lock their tokens in smart contracts. Their locked tokens cannot be traded. The number of OWL tokens awarded can vary with the lock period of tokens.
Users can utilize OWL to pay fees on the Apollo network and the Gnosis prediction market platform. However, fees can be paid using several Ethereum tokens other than OWL. Later, it can also be used as trading fees in the prediction market. If the fees are paid in tokens other than OWL, they are gathered to be sold for GNO and burned.
Gnosis Future Plans
There will be a token merge of STAKE and Gnosis chain in 2022 that can bring new direction and products for its roadmaps. The new version of the protocol, Gnosis Protocol V2 leverages, will batch auctions for offering MEV protection, unity with liquidity sources from DEXs, and the best prices for traders.
With its launch, it will announce great news for the users, including the proof-of-concept CowSwap DEX. They will have a 90% subsidy in gas fees to enable the successful rollout of the new features of GPv2.
They will be teaming up with Balancer in GPv2 to declare a partnership named Balancer-Gnosis-Protocol. The stable version of GPv2 based on the Balancer V2 vault will be released. The interoperability of Balancer-Gnosis-Protocol with any DEX will be highly gas efficient in trade compared with Balancer pools. This will collectively form the Balancer-Gnosis-Protocol (BGP), a crypto cinematic universe crossover event.
Gnosis (GNO) Price Analysis
The Gnosis price on July 17, 2022, is $135.11, and Coin Market Cap ranks it as number 92. Out of the maximum supply of ten million GMO coins, about 2.58 million GNO coins are in circulation. It has a trading volume of $6.29 million and a market cap of $348.52 million. It is considered a good cryptocurrency in terms of price.
Gnosis Price Prediction – Crypto Academy
We have predicted the future prices of Gnosis on the basis of their tokenomics and future plans. It can increase with time.
Gnosis Price Prediction 2022
The price of GNO in 2022 can be at a minimum level of $120 and an average level of $160. The GNO price can hit a maximum level of $180 in 2022 due to the token merge of the STAKE and Gnosis chain.
Gnosis Price Prediction 2023
Our analysis of the price data of Gnosis says that it can hit a minimum level of $160 and a maximum level of $230 in 2023. The average Gnosis price can be $190 throughout 2023 using roadmap after new direction and products made by token merge.
Gnosis Price Prediction 2024
Our price and technical analysis say that the price of Gnosis can be at a minimum level of $190 and a maximum level of $280 in 2024. The average trading price can be $240 this year due to the new version of the protocol, Gnosis Protocol V2.
Gnosis Price Prediction 2025
We anticipate the price of a Gnosis to be at a minimum level of $250 and an average price of $300 in 2025. The GNO price can hit a maximum price level of $350 in 2025 by protecting MEV, integrating with DEX liquidity sources, and affordable prices for traders.
Gnosis Price Prediction 2026
We forecast the minimum price of $290 for GNO in 2026. Our findings on the GNO price in 2026 say that it can be $400 at maximum, with the average forecast price of $340. This can happen by declaring great services like proof-of-concept CowSwap DEX for users.
Gnosis Price Prediction 2027
Our prediction for the price of GNO in 2027 says that the price of Gnosis can be around a minimum value of $350 and a maximum value of $470. The average trading value can be $410 throughout the year by teaming up with Balancer in GPv2 to make Balancer-Gnosis-Protocol.
Gnosis Price Prediction 2028
We predict the minimum price of Gnosis to be $400 and the maximum value to be $530 in 2028 by being more gas efficient in trade. The average trading price can be $460 throughout 2028.
Gnosis Price Prediction 2029
By 2029, we predict the price of Gnosis to reach a minimum value of $500. The GNO price can reach a maximum value of $700 with an average price of $600 through the combination of unconventional products for conventional blockchain enthusiasts.
Gnosis Price Prediction 2030
The price of Gnosis can reach a minimum value of $610 and an average value of $700 in 2030. The Gnosis price could have a maximum value of $800 this year as it transparently guides decisions to support and develop the ecosystem.
Gnosis (GNO) Market Price Prediction
Gnosis has a promising future, as predicted by various crypto-related websites. Their views on its future prices are optimistic, as shown below.
PricePrediction.net predicts the maximum price of GNO to reach a level of $322.42 and the average price to be $287.79 by the end of 2022. Their estimation through the five-year plan says that it can easily reach $1,163.63 by 2027. Their analysts claim that its price can increase till 2030, and its value by then can be as high as $7,785.84.
Wallet Investor considers GNO to be a profitable investment. On July 17, 2022, you can buy 0.737 GNO for 100 dollars. Your current investment of $100 can increase to $650.4 in five years period, with revenue of +550.4%. The price of a GNO can be $882.39 on the same day in 2027.
Digital Coin Price
Digital Coin Price expects the lowest price point for Gnosis to be $192.42, and the highest price can be $727.22 in the future. By one year from now, its price growth can be slow, with GNO worth $192.42. Its price can be $219.88 in three years, $262.26 in four years, and $378.22 in the next five years. In the next six and seven years, the prices can be $491.86 and $573.93, respectively.
Tech News Leader
Tech News Leader expects the Gnosis price to hit a maximum price point of $401.23 in a year and $1,207 in five years. There is a high chance that the Gnosis price can reach $8,364.10 in ten years. The value of a GNO can cross the lowest price of $8,067.74 and the highest price of $10,063.55 during the next eight to ten years.
Coin Codex prediction is based on the tech sector growth estimate for the future value of GNO. It says that the GNO price could stay between $159.92 and $277.12, with a price rise of 104.30% in 2024. If the situation remains favorable in 2025, the price can lie between $204.71 and $614.74, indicating a price rise of 353.19% from the current price. Under similar circumstances, the price of GNO can vary from $262.05 to $1,363.68 in 2026. This would be a surge of 905.31% in the present price.
How to Buy Gnosis
Gnosis is one of many cryptocurrencies that cannot be purchased with money but can only be exchanged for another cryptocurrency on a decentralized exchange. You can buy Ethereum (ETH) first and then use it to buy Gnosis. To do this, you need an exchange account and a self-managed wallet to support this transaction.
Step 1: Create an Account
They also ask for proof of your location. You will receive a confirmation email from [email protected] to register your email address. Click the link to return to Coinbase. You can now complete a two-step verification using your smartphone and the associated phone number. This will verify your number and make your account more secure.
Step 2: Select a payment method
Select a payment method to fund your account with fiat money (such as US dollars). In your area, you can use the different methods available in Coinbase. Usually, the easiest way to speed things up is to use a credit or debit card, but it’s expensive. Bank transfers are relatively slow, but they are also cheap.
Step 3: Set Up a Wallet
The next requirement is a self-custody wallet like Coinbase Wallet for getting Gnosis. It is available for both mobile apps and browser extensions. Therefore, open your Coinbase wallet in your browser or download the app. You must choose a unique username that other Coinbase wallet users will use to send the crypto. You also need it to access your account.
It comes with 12 random word recovery phrases as the key to access the crypto. The key phrases should not only be kept secret, but should also be written down and backed up somewhere. Coinbase doesn’t ask for a recovery phrase, but if you lose it, even Coinbase itself can’t help you access your wallet.
Step 4: Buy ETH
The next step is to purchase Ethereum (ETH) using your coinbase account. Enter the value of ETH you wish to purchase using fiat currency. Additionally, set up a payment plan for transaction costs, which can depend on the network’s load, the transaction’s nature, and the mechanism you use.
Step 5: Transfer ETH to Coinbase Wallet
The next step is to send ETH to your Coinbase Wallet. The next action is to navigate to your Coinbase wallet’s settings and tap the connect button to link it to Coinbase. To finish this procedure, stick to the instructions carefully.
Then, go to the “Buy or Move” option from the Coinbase Wallet settings on your mobile device to transfer your cryptocurrency from your Coinbase account to Coinbase Wallet. Enter the amount you wish to send to the wallet and choose the cryptocurrency “ETH.” Tap proceed and then carry out their instructions to transfer your ETH to your wallet.
Step 6: Buy GNO
You’re now prepared to purchase GNO. You can do this using the Coinbase wallet app on a mobile device. To exchange ETH for an Ethereum-based token supported by Coinbase (also known as “ERC-20 tokens”):
- Click on the “Trade” button. You can then choose the Gnosis token by clicking the “choose coin” button.
- Don’t forget to leave enough money for transaction fees when entering the amount of ETH you want to swap for Gnosis.
- Follow the straightforward actions that appear on the screen to confirm the purchase and complete the trade.
After opening the page while utilizing the Coinbase Wallet extension, users need to press the “Convert” button. Add the amount of ETH you wish to swap for Gnosis in the search bar after locating it, leaving the rest for transaction fees. Confirm the purchase by following the instructions on the screen.
Frequently Asked Questions
Is Gnosis a Good Investment?
Yes, it is a good investment because of its unique and secure experience for users while managing a decentralized network and generating their own markets.
Can GNO Reach $200?
GNO can reach $200 by 2023 by getting a roadmap with new direction and products after the token merge.
How to Buy GNO?
If you want to buy GNO from one of the top cryptocurrency exchanges, you can currently get it from Coinbase, Binance, DigiFinex, BTCEX, Huobi Global, and Gate.io.
- Gnosis is an open-source, decentralized prediction market.
- Ethereum protocol guarantees a transparent and secure ecosystem for Gnosis.
- Its users can create markets for speculation on any event or arbitrary outcome.
- The Gnosis protocol aims to provide the most efficient forecasting tool in the world to transfer the paradigm.
- It is a good investment for its unique and secure experience for users.
- The price of GNO in 2022 can be at a minimum level of $120 and an average level of $160. The GNO price can hit a maximum level of $180 in 2022.
- GNO can surpass $200 in the year 2023.
- The maximum level of price can be $230 in 2023.
- A maximum value of $470 is predicted for 2027.
- The Gnosis price could have a maximum value of $800 in 2030.
- You can buy GNO from Coinbase, Binance, DigiFinex, BTCEX, Huobi Global, and Gate.io.