🦉Gnosis Weekly Recap ~ 24 January 2025

From Remittances to Retail: How Gnosis Pay is Changing Daily Transactions

Every year, millions of people send money across borders to support their families, often losing significant portions to fees and waiting days for transfers to complete. Gnosis Pay is transforming this reality by combining the efficiency of blockchain technology with the convenience of traditional payment systems.

Reimagining International Transfers

The current remittance system poses significant challenges: high fees, long processing times, and limited accessibility. Gnosis Pay addresses these pain points by leveraging blockchain technology while maintaining the familiar experience of using a Visa card. This means workers can send money home instantly, with minimal fees, while recipients can access funds immediately through their Gnosis Pay card.

True Financial Inclusion

At its core, Gnosis Pay is a self-custody wallet integrated with Visa payment rails. This unique combination means users maintain complete control over their funds while enjoying worldwide acceptance. Backed by Safe, pioneers in self-custody multi-signature wallets, the system ensures security without sacrificing convenience.

Beyond Traditional Banking

Traditional remittance services often require both sender and receiver to have bank accounts, creating barriers for the unbanked. Gnosis Pay bypasses these limitations by allowing users to become their own bank. With reduced transaction costs, faster settlement times, and an always-on network, it delivers on blockchain technology's original promise of peer-to-peer electronic cash.

Part of a Larger Vision

As a key component of Gnosis 3.0, this payment solution represents a shift from infrastructure development to practical applications. It integrates with a broader ecosystem including:

Circles: A decentralized universal basic income project

Metri: A user-friendly crypto wallet designed for seamless everyday usage. With a focus on stablecoins and intuitive design, Metri makes it easy for anyone to enter the world of decentralised finance.

Hashi: Enhanced cross-chain bridge security

Building the Future of Finance

Gnosis Pay is creating a new standard for international payments by providing:

  • Seamless bridges to traditional payment systems
  • Robust liquidity for stablecoin exchanges
  • A comprehensive ecosystem for global transactions

Whether sending money across borders or making everyday purchases, Gnosis Pay ensures users maintain ownership of their financial lives while enjoying the convenience of traditional payment systems. This isn't just about improving transactions – it's about democratizing access to financial services globally.

🦉Updates

🏢 GnosisDAO Approves HQ.xyz Acquisition for Gnosis 3.0

GnosisDAO has approved the acquisition of Headquarters (HQ.xyz) with revised terms through GIP-120. The acquisition will cost between $7M-$8.95M depending on investor options. Key terms include:

  • 30% reduction in GNO allocation for investors, founders, team, and advisors
  • 40% cash-out discount option for investors
  • Founder compensation: 1/3 upfront, 2/3 vested over 4 years

This strategic acquisition aims to accelerate the development of Gnosis 3.0.

🔄 GnosisDAO Executes Key Treasury Operations (GIP 116)

The GnosisDAO has also approved several strategic treasury operations for karpatkey, including:

  • Claiming GEL and COW tokens
  • Converting WETH to ETH via Aave withdrawal
  • Burning 3.15M vested GNO tokens
  • Transferring FRAX, COW, WBTC, and stETH to treasury
  • Creating delegates.gnosis.eth subdomain for Snapshot integration

Once the subdomain transfer is complete, karpatkey will proceed with implementing the delegates.gnosis.eth Snapshot subspace as approved in GIP 112.

🧧Shutter Hongbao x Gnosis Chain

The Shutter Network's Hongbao uses time-lock and threshold encryption to enable secure, non-custodial gifting of xDAI on Gnosis Chain.

It's also an easy way to onboard new users to crypto, introducing them to the Gnosis Chain ecosystem with minimal barriers.

🔑 Private keys are encrypted locally in the user’s browser.

🔒 Funds remain locked until the specified time.

This system is entirely non-custodial.

🎙️ Friederike Ernst on DeFi Decoded

Gnosis co-founder, Friederike Ernst joined the DeFi Decoded podcast to discuss the GnosisDAO, Ethereum at a crossroads, and crypto's path forward. Mainstream adoption will depend on delivering on the original promises of decentralized ownership, individual agency, and superior UX. Give it a listen!

📈 Aave on Gnosis Chain Reaches New Milestone

Aave's presence on Gnosis Chain has achieved a significant milestone, hitting an all-time high with $108M in net deposits. This growth underscores the expanding multichain DeFi ecosystem and Gnosis Chain's increasing adoption as a key DeFi platform.

🔄 Gnosis Co-Founder on Ethereum's Critical Role

Martin Köppelmann shares his perspective on Gnosis's deep integration with Ethereum, highlighting GnosisDAO's significant investments in SAFE, COW, and ETH. While acknowledging Ethereum's price action is secondary, he emphasizes the importance of Ethereum's infrastructure for Gnosis's key initiatives:

Köppelmann stresses that these ambitious goals require a unified, efficient Ethereum ecosystem rather than a fragmented L2 landscape. He concludes that while Gnosis contributes to blockchain development, Ethereum's full capabilities are essential for realizing this vision.

💫 Gnosis Chain's Stablecoin Ecosystem Showcases DeFi Integration

Gnosis Chain has developed a comprehensive stablecoin infrastructure featuring:

Users can leverage these integrated services by, for example, using ETH/sDAI/wstETH/GNO as collateral on Aave to borrow Monerium's EURe for GnosisPay card spending.

✍️ Gnosis is Hiring!


🦉GnosisDAO

Ecosystem Growth Associate

Freelancer, Full-time · Remote, Germany (Berlin), Gibraltar, Portugal

🤖 Gnosis Labs

LLM Engineer

Freelancer, Full-time · Remote

💳 Gnosis Pay

Senior Software Engineer

Freelancer, Full-time · Remote

Customer Relations Agent

Freelancer, Full-time · Portugal, United Kingdom, Brazil

Product Manager - Onboarding

Permanent employee, Full-time · Portugal, United Kingdom, Brazil

⚙️ Metri

Senior Web Developer - remote from Europe

Freelancer, Full-time · Remote

💃 Marketing

Social Media Manager

Freelancer, Full-time · Remote, Germany (Berlin), Gibraltar, Portugal

🙏 Thank you

To get more involved in the Gnosis ecosystem, explore the links below!
Gnosis Discord
Gnosis on X
Gnosis YouTube
Gnosis Forum
Gnosis Chain Docs
Gnosis Pay
Metri
Circles
Hashi
Gnosis AI