Gnosis (GNO) seems to be the latest blockchain project to dip its toes into the key marketing tactics we saw heavily last year; namely, opting to go multi-chain, distributing an airdrop to users, and providing multi-million dollar incentives for developers to build on their platform.

Since hitting a low around $220 in late January, GNO has climbed back up 57% to hit a daily high of $351 on February 14th, 2022, according to data from TradingView.

Three major reasons for the bullish reversal likely involve GNO’s recent transition to the CoW (Coincidence of Wants) Protocol, a launch of several interesting governance proposals (including one that would burn a large portion of the circulating token supply), and several major integrations that have increased the liquidity of the ecosystem.

CowSwap

Motivating the rebrand is the rising popularity of CowSwap, a DEX (decentralized exchange) that was the first interface developed on Gnosis. As part of the launch, GNO holders and validators are being given the opportunity to lock their tokens on the platform for one year - in doing so, they will receive an airdrop of CowSwap’s native token, vCow. All airdrop participants will also become eligible for future airdrops on the platform, including their newly-launched Gnosis Safe. Stakers of the GNO token will be eligible to opt-in to liquid staking once it becomes available on the platform.

GnosisDAO Governance

Another factor driving the price movement is likely due to several major governance proposals that would affect the Gnosis ecosystem. The most recent of these proposals submitted by the team is intended to establish SafeDAO and launch a governance token, SAFE.

Another major proposal currently open for comment suggests burning 68% of the total circulating supply of GNO to improve the economics of the token and grant holders more voting power.

Mergers and integrations

A third potential reason for the upward trend may involve the recent expansion of the Gnosis ecosystem, which has boosted activity on the network. Recently, Gnosis has collaborated with 1inch, a decentralized exchange aggregator, and Tornado Cash, a private transaction protocol.