The platform believes that the high congestion and gas prices of Ethereum have made it difficult for the system to work efficiently. The Gnosis Chain is a platform that aims to provide stable, low-cost transactions for all the projects and users. The platform offers a compatible chain for projects that require complex transactions or nano-transactions that are relatively expensive on the Ethereum network. The Gnosis Chain aims to scale infrastructure and chain parameter optimization and additional chain deployments to meet the capacity needs. As per the whitepaper, the platform utilizes a Proof-of-Stakealgorithm implemented as DAOto provide fair, energy-efficient, and decentralized consensus.

The platform utilizes two tokens: xDai for stable payments, transaction or gas fees, and STAKE token for staking, protocolprotection, and community governance. The STAKE token is utilized for voting, and the community members can create and vote on proposals associated with the improvements or changes users wish to see within the ecosystem6. The delegators and validators also utilize the STAKE token to secure the network. Users can participate in chain consensus by running validators nodes and delegators placing a stake on the nodes2. xDai is the native cryptocurrencyused within the ecosystem to pay for gas and transaction fees and is pegged to the US dollar.

The xDai stable chain was introduced in October 2018, and later in December 2021, the name was changed into Gnosis Chain with a token merger between STAKE and GNO tokens. The core development team of the platform includes Igor Barinov, who specializes in product and operations; Vadim Arasev, POSDAO, core protocol development expert; Ulyana Skladchikova, product manager; and Mojmir Racak, community manager.

We update our STAKE to USD currency in real-time. Get the live price of STAKE on Coinbase.

The current market cap of STAKE is $307.693K. A high market cap implies that the asset is highly valued by the market.

The all-time high of STAKE is $42.51. This all-time high is highest price paid for STAKE since it was launched.

Over the last 24 hours, the trading volume of STAKE is $2.291.

Assets that have a similar market cap to STAKE include MARA Holdings Tokenized Stock (Ondo), Figma Ord Shs Tokenized Stock (Ondo), KlimaDAO, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of STAKE is 8.5 million.