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Gnosis

Gnosis is a decentralized prediction platform utilizing GNO as one of its two tokens (the other being OWL). Gnosis was launched in 2017 and is based on Ethereum.

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What Is Gnosis?

Gnosis is a decentralized prediction platform utilizing GNO as one of its two tokens (the other being OWL). Gnosis was launched in 2017 and is based on Ethereum.

Gnosis utilizes a principle defined by prominent market theorists like Hayek. It states that markets are, above all, very effective tools for spreading information: they base their existence on encouraging participants to acquire information and share it with others by making market decisions. This leads to the continuous adjustment of market entities’ value, which allows the public to form opinions on who’s the best and most useful.

The Gnosis team’s opinion is that this principle could work well outside the “traditional” market areas. In particular, Gnosis’ focus is prediction markets, also known as information markets. Instead of buying a stake in, say, a company, a prediction market participant can buy “a stake” equal to the probability of a particular outcome of some event. The idea is that the same market forces described above will do their work, eventually letting the truest results rise to the top through the “wisdom of the crowd”. Gnosis provides the infrastructure for the developers to build dApps for various kinds of prediction markets. 

GNO tokens were sold during Gnosis’ ICO and are used primarily for staking to earn the second type of token on the platform — OWL. GNO token supply decreases with time, increasing value.

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