GnosisDAO Executes Major Treasury Operations: 3.15M GNO Burn Marks Significant Milestone

As Gnosis advances its vision of full-stack decentralization, the DAO has approved a significant treasury proposal (GIP-116) proposed by karpatkey that includes one of the largest GNO burns to date. The proposal's centerpiece - the burning of 3.15M GNO tokens from the vesting contract - represents a meaningful step in GnosisDAO's commitment to sound tokenomics.

The decision for this GNO burn was mandated almost three years ago when GIP-35 fostered a commitment to a total supply of just 3M GNO—a 70% decrease from the original total. However, as 80% of the supply was locked into an 8-year vesting contract in November 2020, it was not possible to execute the planned burns all at once. GIP-116 reflects the latest efforts to follow through on this mandate, bringing the total burned close to 4M GNO and past the halfway mark.

Beyond the GNO burn, GIP-116 encompasses several strategic treasury operations that strengthen the DAO's position which karpatkey will execute:

• Claiming accumulated rewards including Gelato (GEL) tokens and COW tokens from VCOW

• Strategic management of DeFi positions, including WETH withdrawals from Aave

• Asset consolidation, transferring FRAX, COW, WBTC, and stETH to the treasury

• Infrastructure improvements with the creation of delegates.gnosis.eth subdomain

The delegates.gnosis.eth subdomain creation supports recent governance improvements outlined in GIP-112, enhancing the DAO's ability to coordinate effectively.

This treasury action comes at a pivotal moment for Gnosis. As we scale our consumer-facing applications while maintaining our commitment to decentralized infrastructure, efficient treasury management becomes increasingly crucial. The substantial GNO burn demonstrates our continued focus on long-term sustainability and value alignment across the Gnosis ecosystem.

As always, join the discussion on our forum and Discord to help shape the future of Gnosis!

>https://forum.gnosis.io/

>https://discord.com/invite/gnosis

>https://docs.gnosis.io/ (& check out our new DAO resources!)