Token

LayerZero

Gnosis

Thanefield Capital has proposed a $30 million token buyback to the Gnosis DAO in a strategic move to align market value with intrinsic book value. This initiative promises to recalibrate the price of Gnosis (GNO), which according to Thanefield, is currently undervalued based on its assets totaling $730 million. 
Community and Leadership Back Buyback Plan 
The Gnosis community shows robust support for Thanefield’s <a href="https://forum.gnosis.io/t/gip-100-should-gnosis-dao-conduct-a-large-scale-buyback-program/8556" target="_blank" rel="noreferrer noopener">proposal</a>, with a preliminary vote tallying a strong favor from 12 out of 14 participants. Moreover, Gnosis co-founder Martin Köppelmann has <a href="https://forum.gnosis.io/t/gip-100-should-gnosis-dao-conduct-a-large-scale-buyback-program/8556/3" target="_blank" rel="noreferrer noopener">endorsed</a> the proposal, tying its success to a growth program designed to enhance user engagement and market presence. 
Thanefield’s strategy involves a two-pronged approach. Firstly, $15 million is earmarked for a time-weighted average price (TWAP) technique spread over six months, exerting daily buying pressure of approximately $83,333 on the GNO tokens.&nbsp; 
Secondly, an additional $15 million is allocated for discretionary purchases, allowing for adaptive buying strategies in response to market conditions. The execution will be managed by karpatkey, specialists in on-chain asset management. 
Since the announcement, Gnosis’s token price has surged by 20%, peaking at $320, and is currently trading around $317.45. This price movement underscores the market’s optimistic reception of the buyback plan, suggesting a positive outlook for the token’s valuation. 
<figure class="wp-block-image size-large">
 <img fetchpriority="high" decoding="async" width="1024" height="424" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-1024x424.png" alt="Gnosis (GNO) Price" class="wp-image-177758" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-1024x424.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-800x332.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-768x318.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-1536x636.png 1536w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price-860x356.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Gnosis-price.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
The proposed buyback program by Thanefield Capital marks a development for Gnosis, potentially setting a precedent for how DAOs could manage their native tokens to align closely with both market conditions and intrinsic valuations. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/05/20/bitget-lists-layerzero-zro-token-on-its-pre-market/" target="_blank" rel="noreferrer noopener">Bitget lists LayerZero (ZRO) token on its Pre Market</a> 
</blockquote>

Gnosis Token Surges 20% After Thanefield’s $30M Buyback Proposal

The Crypto Times

Other articles published on May 20, 2024

Spot Ethereum ETF 19b-4 Filings Expected To Be Approved This Week

ETFs buy 3X new BTC supply — 5 Things to know in Bitcoin this week

UK Judge’s Written Judgement: Craig Wright Is Not Bitcoin Creator Satoshi Nakamoto

, the New Era of Cryptocurrency

Did You Miss Notcoin? $BLUM Got You Covered

Bitcoin Faces New Challenges as It Approaches Key Resistance Levels

Join our free newsletter for daily crypto updates!