Gnosis Chain Community Reevaluates Gas Token Choices
Gnosis Chain community members are reconsidering their gas token choices following MakerDAO’s rebranding to Sky and the introduction of its new stablecoin, Sky Dollar (USDS).
Gnosis operates a sidechain that currently uses a bridged version of DAI, known as xDAI, to cover gas fees on the network.
MakerDAO is the issuer of DAI, a stablecoin backed by crypto collateral. As part of MakerDAO’s “endgame” plan, DAI holders will have the option to upgrade their tokens to USDS at a 1:1 ratio, along with the chance for native token rewards.
The new USDS stablecoin may introduce more centralized features, such as the ability to “freeze” wallet addresses and restrict access for users in the UK and US. These changes have raised concerns among Gnosis Chain users about USDS’ reliability in covering transaction costs. MakerDAO has confirmed that the current version of DAI will continue to exist.
Community members pointed out that the freeze function of USDS contradicts Gnosis’ principles of decentralization. One community member, 0xLajota, noted, “The USDS has a ‘freeze’ function that blocks the use of the stablecoin in certain wallets and/or smart contracts. This change is against the essence of Gnosis, which is decentralization and permissionless use.”
In response, members have discussed potential alternatives, including adopting decentralized stablecoins like RAI and LUSD, or considering a basket of currencies.
Another suggestion was to use Gnosis’ native staking token, GNO, as the gas token, aligning with practices of other blockchain protocols. However, these discussions remain preliminary with no official proposals yet made.
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