Gnosis (GNO) continues uptrend after vCOW airdrop and rebrand to CoW Protocol

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Airdrops, going ‘multi-chain’ and enormous multi-million greenback developer incentives were among the important predominant marketing and marketing and marketing and rebrand tactics blockchain initiatives utilized in 2021. This pattern appears to be like situation to continue in 2022 and Gnosis (GNO) appears to be like to be jumping on the bandwagon.

Data from Cointelegraph Markets Official and TradingView reveals that since hitting a low of $219 on Jan. 24, the price of GNO has placed on a assemble of 57% to hit a day-to-day high of $351 on Feb. 14 because the Gnosis chain begins to compose its imprint in the decentralized finance sector.

GNO/USDT 4-hour chart. Source: TradingView

Three causes for the bullish reversal in GNO imprint encompass the protocol’s rebrand to CoW protocol, the open of various attention-grabbing proposals, at the side of one which would burn a colossal piece of the circulating GNO provide and various main integrations that hang helped compose bigger the liquidity and fetch admission to to the Gnosis ecosystem.

Gnosis rebrands to CoW Protocol

Vital pattern for Gnosis in 2022 has been the protocol’s rebrand to the Coincidence of Wishes Protocol, additionally acknowledged as CoW.

The impetus unhurried the substitute became the rising recognition of CowSwap, a decentralized substitute that became the first interface constructed on Gnosis Protocol.

As section of the rebrand and entire open of CowSwap, GNO holders hang the assorted to lock their tokens on the protocol for 3 hundred and sixty five days in mutter to procure an airdrop of vested COW (vCOW) tokens, the native token on CowSwap.

The airdrop is additionally on hand to Gnosis Beacon Chain (GBC) validators and all airdrop contributors will be licensed to procure future airdrops, such because the newly launched Gnosis Edifying. GNO stakers will additionally be allowed to opt-in for liquid staking on Gnosis Chain once liquid staking becomes on hand.

GnosisDAO proposals

A 2nd suppose helping stoke the momentum for GNO has been a need of proposals centered on bringing about gargantuan modifications all the map in the course of the Gnosis ecosystem.

The most original proposal submitted by the Gnosis group is designed to attach SafeDAO and open a SAFE token that can maybe perchance also additionally be used to govern the Gnosis Edifying ecosystem and infrastructure.

The proposal additionally seeks to situation up an fair Edifying Foundation in Switzerland that will give protection to strategic off-chain property, enlighten a “SAFE” token and encourage grow the Gnosis Edifying ecosystem.

There is additionally a proposal in the intervening time on hand for comment that asks the neighborhood if the GnosisDAO ought to soundless burn 68% of the circulating provide of GNO to encourage give a boost to the economics of the token and presents more voting vitality to GNO holders.

Also can soundless the GnosisDAO burn 68% of the entire GNO Provide?

Leave your comment in this proposal!https://t.co/[email protected] @gnosischain @GnosisGuild @gnosisSafe @MEVprotection

— Karpatkey (@karpatkey) February 3, 2022

Connected: 1inch Network expands to Avalanche and Gnosis Chain

New mergers and integrations

A Third cause for the compose bigger in GNO imprint has been the growth of the Gnosis ecosystem which has helped compose bigger fetch admission to to the GNO token as smartly as assert on the network.

Recent principal collaborations encompass integrations with the decentralized substitute aggregator 1inch and the non-public transaction protocol Twister money, whereas the protocol’s early December merger with xDAI helped attach the Gnosis Chain.

— Gnosis Chain (@gnosischain) December 12, 2021

VORTECS™ data from Cointelegraph Markets Official additionally began to detect a bullish outlook for GNO on Jan. 22, before the original imprint upward thrust.

The VORTECS™ Ranking, peculiar to Cointelegraph, is an algorithmic comparability of historical and original market prerequisites derived from a mix of data facets at the side of market sentiment, shopping and selling quantity, original imprint actions and Twitter assert.

VORTECS™ Ranking (inexperienced) vs. GNO imprint. Source: Cointelegraph Markets Official

As seen in the chart above, the VORTECS™ Ranking for GNO hit a high of 76 on Jan. 22, round 48 hours sooner than the price began to compose bigger 61% over the following two weeks.

The views and opinions expressed listed below are fully these of the author and attain no longer essentially replicate the views of Cointelegraph.com. Every funding and shopping and selling switch entails threat, you ought to soundless conduct your have learn when making a decision.