We are excited to announce that we have onboarded Gnosis Chain as validators. Gnosis is one of the first Ethereum sidechains in existence and has kept close to its values from inception. Gnosis Chain is EVM-based and secured by over 100k validators around the world. It hosts a very diverse validator set and it is propped up by the community governance of GnosisDAO to ensure it remains credibly neutral at a much lower price point than Ethereum mainnet. It powers an ecosystem of DApps including POAP (Proof of Attendance Protocol, the original NFT protocol), Dark Forest (a fully decentralized strategy game, built with zkSNARK technology), Giveth (public goods, peer-to-peer direct funding platform), and much more.
Gnosis has a long history of working alongside Ethereum, although Gnosis Chain is technically a new blockchain. It first specialized in prediction markets, decentralized exchanges, and wallet solutions, and joined expertise with xDAI Chain in 2021 to provide fast and inexpensive transactions. This newer chain has some great features including a block time of 5 seconds (making it ideal for everyday payments), a native stablecoin, a low-fee system (gas fees cost .01 xDAI per 500 transactions), Ethereum compatibility/interoperability, and much more. Gnosis Chain already successfully went through its Merge upgrade and on December 08, 2021, became a full Proof-of-Stake network.
Gnosis Chain runs on a dual-token framework: xDAI, which is a wrapped version of MakerDAO’s algorithmic stablecoin DAI, is the payment coin of the network. By using a stablecoin for payments and calculating gas in xDAI, Gnosis Chain can keep fees extremely low. On the other side, GNO is the staking and governance token for GnosisDAO, allowing validators and delegators to secure the chain. Currently, there are 342k GNO staked for on-chain voting, making Gnosis Chain the third most decentralized blockchain after Bitcoin and Ethereum. Chorus One is thrilled to support Gnosis Chain in our quest to expand the PoS economy.
About staking on Gnosis Chain
Block Explorer: https://gnosisscan.io/
Validating Rights: The minimum requirement to run a validator is 32 mGNO (1 GNO). Gnosis follows Ethereum’s Proof-of-Stake rewards system. You can learn more here.
Staking yield: 15.78%
Slashing: Staked tokens are subject to slashing.
To stake GNO or to set up a whitelabel validator, reach out to sales@chorus.one
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