Gnosis (GNO)

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Prediction Markets

Gnosis is used to create and operate prediction markets where users can trade on the outcome of future events. This helps gather collective intelligence and improve forecasting.

Payments Infrastructure

Gnosis builds decentralized payment tools like Gnosis Pay, which allow users and businesses to make crypto payments easily and bridge the gap between fiat and crypto.

Decentralized Finance (DeFi) Tools

It offers infrastructure such as Gnosis Protocol, a decentralized exchange mechanism that improves liquidity and trading efficiency by enabling ring trades and conditional tokens.

AI and Web3 Integration

Gnosis is exploring AI agents that interact within its ecosystem, especially in prediction markets, to enhance decision-making and automation.

User-Controlled Financial Systems

Through projects like Circles, Gnosis supports user-driven financial networks where individuals issue their own tokens and control trust relationships, promoting financial inclusion.

For more details, visit gnosis.io.

Pros of Gnosis

• Low Transaction Fees: Gnosis Chain offers very low fees, making it affordable to use.
• Multi-Signature Security: Gnosis Safe wallet requires multiple approvals for transactions, increasing security.
• Decentralized Control: No single authority controls funds, which supports trust and transparency.
• Strong Ecosystem: Includes prediction markets, smart wallets, and other useful protocols.
• User Control: Non-custodial features let users keep full control of their crypto assets.
• Good Customer Service: Quick and helpful support, especially for Gnosis Card users.
• Scalability and Speed: Fast transaction processing and ability to handle growth.

Cons of Gnosis

• Limited Crypto Support on Card: Gnosis Card supports only 2 cryptocurrencies and 1 blockchain, fewer than many competitors.
• Gas Fees on Wallet: Using Gnosis Safe can have higher gas fees compared to regular wallets.
• Complexity: Multi-signature wallets can be harder to set up and manage for beginners.
• Blockchain Limitations: Gnosis Safe supports mainly Ethereum-compatible chains, not others like Bitcoin or Solana.
• Spending Limits: Gnosis Card has daily spending limits that might restrict heavy users.

For more details, visit the official Gnosis website.

Founders of Gnosis

• Martin Köppelmann: Co-founder and CEO, involved since the start in 2015.
• Stefan George: Co-founder and CTO, a systems engineering specialist.
• Friederike Ernst: Co-founder and Chief Operating Officer, joined in 2017 and helped grow the project.

Gnosis was initially part of the blockchain company ConsenSys and started as a prediction market platform.

Venture Capital Investors

Gnosis has received investments from several venture capital firms including Lightspeed Venture Partners, Tiger Global Management, Digital Currency Group, ParaFi, BlockAsset Ventures, Cherry Crypto, CMCC Global, Collider Ventures, and Consensys Mesh.

Crypto-Focused Funds

Other notable investors include Placeholder VC, 1kx, and Pantera Capital, which specialize in cryptocurrencies and decentralized finance (DeFi).

Investment Rounds

Gnosis raised $100 million in a Series C funding round in July 2022, with 11 investors participating in that round.

These investors support Gnosis for its work in decentralized prediction markets, Ethereum infrastructure, and tools like Gnosis Safe for managing crypto assets.

Halal Status of Gnosis

• Yes, Gnosis is generally considered halal by some Islamic finance perspectives because it has a clear and legitimate use case in decentralized prediction markets and blockchain-based financial infrastructure.
• It is not a meme coin or purely speculative asset, which supports its halal classification.
• However, detailed Shariah rulings on Gnosis specifically may require consultation with a qualified Islamic scholar or Shariah advisory firm.