The EURe, Monerium, and Gnosis Chain
The big headline from the week for Gnosis Chain was the arrival of the EURe stablecoin issued by Monerium! The EURe is far more than just a euro-pegged stablecoin. The EURe issued by Monerium is backed by actual euros held in bank deposits or qualifying high-quality and liquid securities. In fact, the EURe token is overcollateralized by 102%, meaning that for every EURe issued, there is an excess amount of euros (2%) held in reserve which protects the value of the EURe. As a regulated e-money token, the EURe is redeemable on demand 1:1, which means it always has the same value as the euro in your bank account.
One of the unique features of the EURe issued by Monerium is the ability to send and receive euros directly between bank accounts and a Safe multisig wallet. A Safe wallet is a smart contract wallet that requires multiple signatures to authorize transactions. This makes it a highly secure way to store digital assets. Check out the twitter thread below to learn more ⬇️⬇️⬇️
Monerium also launched a campaign on Layer3.xyz, a web3-native growth platform, to promote EURe to users on Gnosis through two Quests! Check them out! 😎⬇️
Monerium x Layer3 x Linen
For the initial Layer3 quest, users will create a Safe using the Linen Wallet. Linen Wallet is a multi-chain wallet powered by Safe. The team has been building on Safe since 2020 supporting Ethereum and Polygon. In fact, Linen Wallet is the first 3rd party wallet app that implemented account abstraction on mobile devices using Safe smart contracts prior to when the term Account Abstraction was coined. Linen Wallet mobile app is designed to onboard mainstream crypto enthusiasts to the Gnosis Chain ecosystem.
The Limits of L2s
Another headline grabber from this week was the Arbitrum airdrop - a layer 2 blockchain. Arbitrum is an Optimistic rollup protocol that inherits Ethereum-level security. The timing, of course, couldn’t be better for Gnosis Chain. The viral airdrop serves as a great opportunity to highlight the critical differences between L2s and Gnosis Chain. While rollups offer benefits over traditional layer 1 blockchains, they have several limitations for scaling Ethereum. Recently, GnosisDAO core contributor, Martin Koeppelmann, delivered a talk about the limits of layer 2 rollups and why Gnosis Chain, as an alternative layer 1, offers greater security and decentralization guarantees for scaling Ethereum.
Currently, layer 2 rollups offer limited benefits for developers interested in building decentralized applications. For key take aways from the talk on why Gnosis Chain offers several alternatives to scaling Ethereum without compromising on decentralization, check out Stefan George’s twitter thread below 👇👇👇
Balancer Launches Pools on Gnosis Chain
Another big announcement for Gnosis Chain was the launch of the new boosted pools on Balancer!!! Check out the thread below to learn how karpatkey folds into it all along with how to take advantage of the yields.
DeFi builders eager to integrate the pools - Docs and SDKs are ready 🚀
Aura Finance is also offering Balancer gauges on Gnosis Chain!
Fractal Integrates Gnosis Chain
Fractal’s DID technology is now on Gnosis Chain. Users can KYC once with Fractal’s DID and never have to worry about additional verification while using dApps on Gnosis Chain.
API3 Data Feeds on Gnosis Chain
Builders on Gnosis Chain can now access API3 data feeds! API3 is a platform that enables dApps to access blockchain-external, real-world data and services via application programming interfaces (APIs).
Core Devs Call
The weekly Core Devs Call happened this week along with the Validator Meetup that takes place on the 3rd Thursday of each month.
DAOCast w/ karpatkey
Decrypt’s GM Podcast w/ Friederike Ernst
GnosisDAO core contributor, Friederike Ernst, joined Decrypt’s GM podcast for a wide ranging discussion about Gnosis and what the network prioritizes in the blockchain trilemma between security, scalability, and decentralization.
Solo Staker Corner ✨
🙏 Thank you
Come say hello in the Gnosis Chain Discord. Join us for the next GnosisDAO Community Call on April 13th at 3PM UTC / 5PM CET on the GnosisDAO Twitter Spaces.
See you on-chain,
Gnosis Chain Team