Gnosis Chain spends $5M on validator incentive program for decentralization
The program offers 388 mGNO to each of the first ten validators that runs in a listed country. Gnosis Builders, developer of blockchain network Gnosis Chain, has announced a $5 million project to increase the number and diversity of validators through incentive mechanisms. The new project is called “Gnosis VIP,” according to an April 18 announcement from the company. As part of the new project, Gnosis is launching a “Geographic Diversity Program” that seeks to increase the number of countries Gnosis Chain validator s are located within. The network currently has over 100,000 validator s spread across 60 countries, and the program ’s goal is to increase the number of countries to 180 by year’s end, the announcement said. According to the program’s official webpage, for each of the 90 countries listed, the first ten validators that start operating within them will receive 388 meta Gnosis (worth $1,368.18 at April 12 prices) over the course of six months. Meta Gnosis (mGNO) is the wrappe...