Thanks, Thoughts, and the Road Ahead
Dear Gnosis Community,
We are humbled to have seen such strong support from the community in our token sale. For the past 2 years we have been building Gnosis from the ground up and have been working towards this moment. This was not only a huge step forward for Gnosis, but also a highly emotional event for us. It’s an affirmation of both the project and team, and we are honored that the community holds such high opinions of us. Thank you.
A few facts:
- Over 1000 addresses participated in total
- The token sale was the fastest to sell out with more than 1000 participants
- Over $1M worth of transactions hit the auction contracts minutes after the end
- We are still getting daily requests to sell additional GNO
Now that the token sale has concluded, we have huge expectations to fill. We are prepared to deliver. Our roadmap, which can be found in the second half of https://gnosis.pm/timeline, not only gives a detailed plan of our next steps over the coming months and years, but also provides probability estimates of the timeliness of successful releases. This data comes from Gnosis markets. It is exciting for us to utilize such tools which increase transparency, accountability, and community involvement. The next significant steps on our roadmap are cryptoeconomics experiments and the release of our Gnosis Twitter AMA App. The cryptoeconomics experiments will test assumptions surrounding cryptoeconomic markets and their application toward Futarchy. The Gnosis Twitter AMA app allows anyone to easily participate in prediction markets directly from Twitter and their mobile device. This app provides a concrete example of Gnosis’ platform model.
Many of you are interested in what we will do with the retained tokens. First of all, 10% of total tokens will be used for incentivizing the team, including our former “mothership” ConsenSys to whom we will retain close ties. ConsenSys has a long term interest in Gnosis and to demonstrate that, they announced today that they will not touch their tokens for at least a year. Tokens given to individual team members will be released over a 4 year period via a smart contract. Of the additional tokens retained by the Gnosis company we have visibly locked 99% for at least a one year period (find the transaction here). Following this time period, we intend to lock a significant portion for longer still, but are not currently committing to any fixed number to be able to react to the situation one year from now in the most appropriate way. These tokens are held for the purposes of incentivizing projects building on top of Gnosis and to bring in additional funding or token distribution for the project if necessary. There have been some concerns raised regarding the impact that this distribution will have on project decentralization. There are specific cases in which distribution must be wide for a project to work: Namely, protocol tokens in which there is any form of voting rights or proof of stake. In application and platform level tokens, this is not the case. We strongly believe that this distribution will benefit all token holders by ensuring we have sufficient tokens to incentivize ecosystem growth.
For everyone who participated successfully in the token sale, GNO tokens will be credited to their Ethereum addresses on May 1, 17:19:49 UTC May 1, 17:09:49 UTC. Meanwhile everyone can check their GNO balance on https://gnosis.pm/balance.
It is our vision to create a world-changing platform. To achieve this goal we see a decentralized platform that runs exactly by the rules it was created under as a key component. In addition, GNO tokens should play a major role in aligning incentives to use this platform — eventually hopefully between millions of GNO holders. You may be among the first one thousand. We are looking forward to embarking on this journey together.
Martin, Stefan, Matt and Friederike for the Gnosis team
