Utopia is live on Gnosis Chain ⛩🎉!

Today we’re excited to announce we’re launching on Gnosis Chain to support the growing community of DAOs and projects on the chain.

Previously known as the xDai Chain, Gnosis Chain provides stability, scalability and an extendable beacon chain framework. We’re so happy to support Gnosis DAOs onto Utopia to help scale their operations as organizations.

What is Gnosis Chain?

The Gnosis Chain is a stable payment Ethereum Virtual Machine, meaning applications built solidity smart contracts can be deployed on Gnosis Chain. This blockchain is designed for fast and low-cost transactions. Similar to (link) BNB Smart Chain, Gnosis Chain uses a dual-token model.

  1. xDai –stable token used for transactions, payments, and fees
  2. Gnosis Beacon Chain –consensus-layer providing Proof of Stake protection

New chain, same Utopia ⛩ Using multichain on Utopia is the same experience as eth-mainnet with no lessened functionality! Any Gnosis Chain DAO with a Gnosis Safe can use our full suite of features!

  • Gnosis Chain DAOs can create recurring and 1-time payments on Utopia and pay them out in less than two clicks. These two clicks make a transaction through Gnosis SAFE, paying the team’s recurring compensation.
  • Once the transaction is created, DAO multi-sig holders sign and execute the payment on Utopia without any gas! Our signing page lets multi-sig holders get a clearer picture of their Gnosis transactions and avoid paying gas individually.
  • A Utopia payment request link can be shared with the community to avoid back-and-forth messages. Individuals expecting payment can submit how much they should be paid along with information on the context of the payment.
  • DAOs can track and download their payment history - giving them a detailed breakdown of the DAO’s expenses.
  • In July, Utopia will have a bookkeeping feature that will allow Gnosis Chain DAOs to categorize and get analytics on all their DAO’s transactions.

Looking to free your team from operational overhead? Book a demo below

You can access Utopia on Gnosis Chain here:

Learn more about Utopia at utopialabs.com

Sources and additional reading:

Subscribe to Utopia Labs
Receive the latest updates directly to your inbox.
This entry has been permanently stored onchain and signed by its creator.
More from Utopia Labs