After sliding down to $216 on January 24, GNO prices have seen a 57% spike, going up to $351 on February 14. This spurt signals the arrival of Gnosis into the DF sector.
Gnosis appears to be using several key rebranding and marketing strategies of blockchain projects used last year, such as going the multi-chain way, airdrops, and massive developer incentives.
Experts say that the reasons behind the bullish upturn in the prices of GNO included the rebranding by GNO to CoW protocol, numerous significant integrations that help in increased liquidity and access to the Gnosis ecosystem, and the introduction of multiple interesting proposals such as burning a major part of the GNO supply in circulation.
Rebranding To The CoW Protocol Most Significant Move By Gnosis
The move that has the greatest positive effect has been GNO’s rebranding to the Coincidence of Wants (CoW) Protocol. The move behind the rebranding was the zooming popularity witnessed in CowSwap. This decentralized exchange was Gnosis Protocol’s first interface.
GNO holders now have the chance to lock the tokens for a year. This is part of the full launch and rebranding of CowSwap. They will get an airdrop (en masse free tokens) of vCOW tokens native on CowSwap.
GBC validators can also avail of the airdrop. Every participant in the airdrop will be entitled to future airdrops, including Gnosis Safe, which has been newly launched.
GNO stakeholders can also opt for availing the liquid staking, an alternative to locking, on the GNO Chain when it becomes available.
GNO momentum has also been boosted by multiple proposals that are focused on drastically changing the ecosystem of Gnosis. The latest of the proposals the GNO team submitted include the establishment of SafeDAO and also the launch of SAFE tokens which will help in governing the Gnosis ecosystem and infrastructure.
A proposal has also been sent to the community to burn 68% of the whole GNO supply. This is expected to improve the token plus impart greater power of voting to holders of GNO.