GIP-117: Strategic Partnership with Backed through Liquidity Incentives on Gnosis Chain

Executive Summary

This proposal suggests offering $1M worth of GNO tokens as liquidity incentives for Backed’s bTokens on Gnosis Chain, creating a unique value proposition for the ecosystem. Gnosis is currently the leading ecosystem after mainnet for tokenized equities according to RWA.xyz, and we want to strengthen these markets.

We propose to support the rollout of equity assets on Gnosis Chain through Backed, supported by GNO token incentives. This initiative aims to differentiate Gnosis Chain in the DeFi landscape and provide users with an opportunity to diversify from crypto to equities while earning additional yields.

Backed brings real-world assets on-chain. Backed issues permissionless tokens that track the value of real-world assets and are fully collateralized by them, such as stocks or ETFs. Tokens are issued under an approved EU prospectus. Gnosis VC has led both of Backed’s investment rounds.

Specification

Liquidity Incentives

• GnosisDAO will allocate $1M worth of GNO tokens for liquidity incentives.
• These incentives will be distributed over a 6-month period.

Asset Selection and Incentive Distribution

• 4 equity assets will be selected for this initiative via a staged rollout.
  • Initially, the bCSPX pool will be targeted for the launch of this initiative.
  • Then pools of bNVDA, bCOIN and bTSLA will be deployed and incentives applied.
• Each asset will have its own pool, paired against sDAI deposits.
• $250k worth of GNO will be allocated to each pool.
• Incentives will be distributed proportionally over 6 months.

Rationale

This proposal offers several benefits:

1. Unique Value Proposition: By offering equity assets, Gnosis Chain differentiates itself from other blockchain platforms. Gnosis already leads in this market currently, and with targeted incentives, Gnosis can become the home of tokenized equity trading.
2. User Incentives: The additional 10% yield incentivizes users to choose Gnosis Chain for diversifying into equities.
3. Simplified Investment: Users can easily diversify from crypto to equities within the Gnosis ecosystem.
4. Strategic Partnership: The $1M GNO will strengthen our continued partnership with Backed.