Gnosis Auction Launches, Introduces Fair Token Price Discovery Mechanism

Share Article
In Brief
  • Gnosis launches new token price determinant.

  • Gnosis Auction is set to establish a fair price to suit both sellers and buyers of new tokens.

  • Auctions will be launched on Gnosis Safe app.

  • promo

    Gravity Dex Protocol: Bringing DeFi to Cosmos

The Trust Project is an international consortium of news organizations building standards of transparency.

Gnosis will launch a new service called Gnosis Auction. The new platform is aimed at clearing the uncertainty surrounding token price through an auction system.

Sponsored



Sponsored

Decentralized finance (DeFi) market mechanism firm Gnosis is taking the plunge to solve an agelong problem in the blockchain industry. From the ICO era in 2017, there’s usually dubiety surrounding the price of new tokens. This causes a clear imbalance in price, especially when tokens are first listed.

Gnosis Auction is set to introduce a provably fair ecosystem for determining the price of tokens. It aims to achieve this by comparing the selling price and the offers made by potential buyers. This auction system is set to determine a median price, which it deems fair for both parties.

Sponsored



Sponsored

The company’s co-founder and CTO, Stefan George, commented on the company’s newest service:

“With ICOs and token launches notorious for creating volatile price points, the method behind discerning what a new token should cost is complicated. We have designed gnosis Auction to address this issue, allowing new token launchers to now ask their audience what it’s worth in a completely fair and permissionless way.”

Gnosis safe app to house auctions

Transacting parties can find a satisfactory midpoint through the Gnosis Safe app. To attain this, sellers can create an auction for their tokens, setting the minimum selling price as the starting bid.

Buyers who wish to purchase will likewise place a bid with their maximum offer. The platform will then place a value on the token based on the prices set by the seller and buyers.

The auction process is fully peer-to-peer, as Gnosis lays no claim to the pricing system.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Daniel is an avid blockchain and cryptocurrency enthusiast. He gained interest in the digital asset space in 2017. Since then, he started writing educational content to spread the word on the distributed ledger technology.

Follow Author

Crypto predictions with the Best Telegram Signal with +70% accuracy!

Join now

Market signals, studies and analysis! Join our Telegram Today!

Go

Market signals, studies and analysis! Join our Telegram Today!

Go