Explore Gnosis By Swapping With LI.FI
LI.FI Interoperability Expands To Gnosis
LI.FI is happy to support Gnosis, giving our users even more chains to explore in the multi-chain ecosystem. We’re always expanding our integrations and support — with one of the latest being Gnosis:
Gnosis is an EVM-compatible sidechain designed for high-speed, low-cost transactions. Its popular native stable token xDai is ideal for payments in the crypto industry, and its permissionless delegated PoS validation mechanism makes it more cost and energy-efficient than Ethereum mainnet.
This article shines a light on some of the most popular dApps in Gnosis’ ecosystem.
Let’s dive in!
Exploring The Gnosis Ecosystem
Originally known as xDai chain when it launched in October 2018, Gnosis rebranded to its current name in December 2021 after a merger with the team behind the Gnosis Protocol. To date, Gnosis boasts a TVL of $145 million, and has been integrated by some of the biggest DEXs in DeFi and used as the platform for some of the most innovative crypto projects. LI.FI is proud to be the aggregator of bridges between Gnosis chain and the wider ecosystem for all dApp developers.
Here’s an overview of the most popular dApps on Gnosis that you can use by cross-chain swapping with LI.FI:
Source: xDai Chain
Decentralized Exchanges (DEXs)
Gnosis is supported by DeFi powerhouses such as Honeyswap, SushiSwap, and Curve. DEXs allow users to swap tokens across multiple chains for things as simple as making purchases or as advanced as providing liquidity to decentralized protocols. Sushiswap alone has a TVL of over $2 billion, and benefits greatly from allowing users to swap stable tokens like xDai, which hold firm against market fluctuations and volatility.
Because LI.FI supports bridging to Gnosis as well, those same benefits are available to all LI.FI users right now.
Source: POAP inc on Medium
NFTs
Though everyone is familiar with NFTs as a means to own digital art that already exists, Gnosis has partnered with projects that are putting a new spin on this innovative technology. POAPs (Proof of Attendance Protocols) are NFTs distributed in digital communities to reward users for taking part in DAO town halls and other events. POAP inc, the team behind POAPs, is building their NFTs on the Gnosis chain. Meanwhile, Nifty Ink is breaking down the barriers to NFT creation by enabling users to design art pieces in the browser and immediately mint them as NFT’s on Gnosis.
Because of the lower transaction costs and fast block times, Gnosis is an ideal chain for creating and sending NFTs.
Lending Protocols
DeFi lending platforms offer ways to earn passive income at higher rates than most traditional finance opportunities due to their large, variable APRs. Agave is a major player in providing those opportunities for the Gnosis community. They have competition from initiatives such as Bao Finance, which offers staking and yield farming possibilities for xDai holders as well.
xDai’s stability as a token makes lending it very attractive to investors, as the risk of the token losing value is low. Swapping to xDai and taking part in these lending protocols is easy for LI.FI users, who are just a few function calls away from initiating cross-chain swaps to Gnosis.
Native Gnosis dApps
This section is about the amazing dApps built natively on Gnosis that haven’t been mentioned above. Here’s a list of some of the most widely used native Gnosis dApps:
Perpetual Finance — Perp.com is a decentralized protocol for perpetual futures investments. With Perp.com, futures renew instead of expiring, streamlining the process of future investing.
Circles UBI — Circles is a protocol that enables communities to provide a universal basic income amongst themselves without dependence on the government.
DAOHaus — Positioning itself as the premier tool for communities that want to build DAOs, DAOHaus has integrated Gnosis for its suite of governance tools.
GENUINO — To bring NFTs into the physical realm, GENUINO sells NFTs which can be redeemed at any time for physical art, merchandising and products.
There’s a nearly endless list of ambitious projects integrating Gnosis, and you can check them out on Gnosis’s official projects and dApps page.
So, how can users explore the Gnosis ecosystem?
By using cross-chain bridges individually or using a bridge aggregator like LI.FI that integrates the best bridges in the ecosystem and allows users to move their assets onto and from the Gnosis network.
To learn more about Gnosis, check out:
The future is multi-chain and we strive for more interoperability. We aim to build the multi-chain ecosystem by maintaining good relationships with all the stakeholders. We’re grateful to have Gnosis in the LI.FI family!
We’ve partnered up with the brightest minds and aim to build the best abstraction and aggregation solution available on the market. If you’re a blockchain network, bridge builder, wallet, or dApp developer, come talk to us and let’s work together!
FAQ: Explore Gnosis By Swapping With LI.FI
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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.