StakeWise V3 Is Coming To Gnosis Chain

StakeWise
3 min readApr 17, 2024

StakeWise on Gnosis Chain has seen tremendous success: a whopping 36% of all the GNO staked to date has been deposited through StakeWise. This landmark accomplishment not only solidifies our position as a leader within the Gnosis community but also serves as a testament to the trust and enthusiasm that stakers place in our platform. We are truly grateful for your support.

Now we’re getting ready to take the next step in our Gnosis story and raise the staking experience to a whole new level.

We are excited to announce that StakeWise V3 and all of its innovations are soon coming to Gnosis Chain!

Find the details about what this means for StakeWise and existing sGNO and rGNO holders in the sections below.

What does it mean for StakeWise on Gnosis?

This release is not merely a technical upgrade; it represents a suite of new opportunities for users on Gnosis, from ordinary stakers to solo and professional node operators.

Specifically, V3 release on Gnosis will see us:

  1. expand the node operator set;
  2. stake all of the currently unbonded GNO that remains after possible withdrawals;
  3. improve the staking APR to approximate the network rate (before fees);
  4. introduce staking withdrawals and liquid solo staking;
  5. restore the peg on sGNO and rGNO;
  6. simplify start-up of new staking businesses on Gnosis;
  7. push liquid staking deeper into the Gnosis Chain ecosystem; and
  8. drastically improve the overall user experience.

In short, StakeWise on Gnosis will get a massive boost and we couldn’t be more excited about its timing.

Existing users will have the possibility to migrate to the new token, osGNO, to enjoy autocompounding of staking rewards, use their stake in any of the upcoming osGNO integrations, or unstake their assets natively.

There is nothing to do for the existing users for now. More details about the migration will be communicated closer to the actual release.

Importance of Gnosis Chain for StakeWise

Gnosis Chain is experiencing a renaissance of activity, thanks to the integration of DeFi powerhouses such as Aave, Balancer, and Curve. This bustling hub of innovation is drawing an ever-growing crowd of users and developers, further enriched by the emergence of groundbreaking services like Gnosis Pay. Imagine the thrill of buying a coffee with your Gnosis Pay card, knowing that there’s a significant chance the transaction is powered by your StakeWise validator — now that’s something!

We are overjoyed at the boundless possibilities that V3 will unleash. The prospect of StakeWise validators facilitating transactions for hundreds of thousands, powering the financial operations of a dynamic community, is just a glimpse of what’s to come.

The refresh of StakeWise on Gnosis also means a reintroduction of a DAO fee, which has significant potential to become a major revenue stream for our protocol as the Gnosis ecosystem expands further.

Timeline

We are on the brink of completing the testing for V3, with audits expected to be concluded at the end of May, and frontend development already wrapping up.

The excitement is palpable as we approach the launch of this widely anticipated update. We will communicate more details about the release and the migration steps closer to the deployment date. Get ready for an exhilarating new chapter in the story of StakeWise and Gnosis Chain!

StakeWise makes staking ETH and GNO simple and secure! Pool ETH with others or go solo — no matter how you stake, you stay liquid with osETH and osGNO tokens.

Find the best way to stake ETH & GNO 👉 https://stakewise.io

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StakeWise

Liquid staking for DeFi natives, solo stakers, and institutions on Ethereum and Gnosis Chain. Stake from any node & stay liquid with osETH & osGNO tokens.