Gnosis (GNO) continues uptrend after vCOW airdrop and rebrand to CoW Protocol
Airdrops, going 'multi-chain' and massive multi-million dollar developer incentives were some of the key marketing and rebrand tactics blockchain projects used in 2021. This trend appears set to continue in 2022 and Gnosis (GNO) appears to be jumping on the bandwagon.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $219 on Jan. 24, the price of GNO has put on a gain of 57% to hit a daily high of $351 on Feb. 14 as the Gnosis chain begins to make its mark in the decentralized finance sector.
Three reasons for the bullish reversal in GNO price include the protocol's rebrand to CoW protocol, the launch of several interesting proposals, including one that would burn a large portion of the circulating GNO supply and several major integrations that have helped increase the liquidity and access to the Gnosis ecosystem.
The most significant development for Gnosis in 2022 has been the protocol's rebrand to the Coincidence of Wants Protocol, also known as CoW.
The impetus behind the change was the rising popularity of CowSwap, a decentralized exchange that was the first interface built on Gnosis Protocol.
As part of the rebrand and full launch of CowSwap, GNO holders have the opportunity to lock their tokens on the protocol for one year in order to receive an airdrop of vested COW (vCOW) tokens, the native token on CowSwap.
The airdrop is also available to Gnosis Beacon Chain (GBC) validators and all airdrop participants will be qualified to receive future airdrops, such as the newly launched Gnosis Safe. GNO stakers will also be allowed to opt-in for liquid staking on Gnosis Chain once liquid staking becomes available.
A second factor helping stoke the momentum for GNO has been a number of
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