Gnosis launches new protocol for negotiations decentralised at Ethereum

Key facts:

The protocol can be tested via the decentralised application Table, integrated to Gnosis.The system allows operations of rings in order to increase the liquidity.Gnosis, platform markets predictive, announced April 15 the launch of a new protocol designed to provide better forms of trade.As described in the press release of the company, the Protocol, Gnosis intends to offer to the users of the network of Ethereum negotiations on a decentralized basis. In this sense, they assure that with this new protocol creates a mechanism called “operations of rings”, a system that, as explained, can improve the liquidity of the tokens issued on the platform of Ethereum, and you can already try through the Table, a decentralised application (dApp) that is integrated into the protocol of Gnosis.Table is a commercial interface that facilitates the creation of strategies of markets for stablecoins in the protocol of Gnosis, according to which adds to the writing. Thanks to the provision of liquidity in the dApp “users can be creators of markets for cryptocurrencies anchored in the Protocol of Gnosis, while obtain liquidity and a competitive yield”.One of the characteristics that most highlights of Gnosis is that your new protocol is sufficiently decentralized to enable users to construct data on the same. In this regard, they point out that your design without server ensures that the protocol will always be available. As it has no owner, its process of settlement of orders is not dependent on any operator. This means that anyone can list tokens, or to make integrations of contracts intelligent.On the other hand, the system is designed to function as a sharing platform, decentralized (DEX for its acronym in English). This was done as the objective of creating a central infrastructure improved to trade in the network of Ethereum. Already by the end of 2018 Breaking News reported one of the first protocols of Gnosis, a DAO for its protocol DutchX that sought to create a commerce platform that is decentralized to the users of Ethereum, which was launched in its pilot phase in October 2018.

Gnosis proposes the operations of rings for trade

Example of book orders in the protocol Gnosis which enables the exchange of rings. Source: GnosisLa way in which the operations of rings work is simple. What you are looking for Gnosis is to settle all the orders, without the need of relying on a single pair currency. For example, it might occur that for a user to purchase DAI, have to do trade with 2 pairs exchange rate different to acquire the criptomoneda. With the protocol of the Gnosis, the user can directly acquire the cryptocurrencies that you want, without the need to do more than one transaction.This is possible because the protocol takes into account all parities, exchange rates existing in the platform. When you see that one or more users to place orders of markets with different pairs exchange rate, the protocol selects the solution of settlement of trade orders in rings in order to maximize the well-being of the trader and provide to each clearing prices of uniform.The protocol Gnosis charges a fee of 0.1% of the traded volume. All rates are converted in OWL, which is a token that is general to block the token of Gnosis (GNO). 50% of the fees are paid as an incentive to the provider of the solution of liquidation of the created order, and the other 50% of the charge is burned in the completion of the transaction.The rates are used as an incentive for the open competition on the platform. Any user can submit a solution for settlement of orders for each batch of auctions and be rewarded. In addition, it is expected that this will bring value to all holders of tokens DIFF.

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