List GNO as collateral asset

Summary

List Gnosis token ($GNO) as a collateral asset for supplying and borrowing on Cream Finance Ethereum

Abstract

$GNO is the governance token for the GnosisDAO. Gnosis has been around for some time and has been focused on 3 lines of products -> Prediction Markets, DEXs, and Wallets.

• Gnosis Safe is the most used Multisig wallet on Ethereum, with ~$17 Billion USD worth of assets being held in Gnosis Safe contracts
• Conditional Tokens Framework, a Prediction Market framework used by Omen and Polymarket
• DEX’s such as GPv1 (Mesa), and the upcoming Gnosis Auction protocol

Gnosis recently transitioned to a DAO, and delegated 150K ETH and 8 Million GNO (vested over 8 years).

$GNO token is the governance token that allows voting in order to direct the DAO.

Motivation

The main motivation is to make $GNO more accessible to people through lending and overall liquidity.

$GNO is already quite a liquid token in DEXs and CEXs, as it can be seen in the following pools at time of writing:

• Uniswap (0x3e8468f66d30fc99f745481d4b383f89861702c6) -> ~$16M USD

• Balancer 80/20 (0xe42237f32708bd5c04d69cc77e1e36c8f911a016) -> ~$33M USD

• Balancer 50/50 (0xdbe29107464d469c64a02afe631aba2e6fabedce) -> ~$10M USD

• Sushiswap (0x41328fdba556c8c969418ccccb077b7b8d932aa5)-> ~$1.5M USD

Additionally, $GNO is listed on Kraken, and has daily volumes of over $300k USD across /ETH, /USD, /XBT, and /EUR pairs.

An important thing to note is that since the transition to the DAO, GNO has proved to be very correlated with ETH which is useful to provide stability and resilience to the pool of assets on Cream.

We strongly believe that enabling users to lend and borrow $GNO will help both Cream and GnosisDAO achieve things such as:

• Higher TVL in CREAM
• Enabling users to vote on GnosisDAO by borrowing
• Enabling users to participate in BAL and/or Sushi rewards via LPing borrowed funds
• Enabling GNO holders to generate an interest

Background

GNO token address: 0x6810e776880c02933d47db1b9fc05908e5386b96

Price: $149.00 USD (at time of writing)

Circulating supply -> 1,504,587 GNO

Total supply -> 10,000,000 (8,000,000 vested to the DAO over 8 years)

No minting, burning, rebase, and/or transfer fee functions.