Cosmo Coin COSM to Gnosis GNO Exchange

Crypto Pair Details: COSM to GNO

Cosmo Coin COSM

Cosmochain is a complementary Company-to-Consumer platform that connects cosmetics product users and content creators to cosmetics product suppliers, including cosmetics companies, OEM/ODM manufacturers, R&D centers, and distributors. Through this platform, the Cosmochain Team aims to solve the aforementioned unmet needs of both companies and customers. All data collected from platform participants are kept confidential in this customer-centered ecosystem. Those who contribute their scarce time and attention toward producing and curating contents for others are compensated with tokens and receive pro-rata ownership of the contents they create. On the other hand, cosmetics product suppliers are able to actualize a wide variety of “on-demand” services on the platform by utilizing API that Cosmochain provides. Two different tokens and one internal virtual index make up the Cosmochain ecosystem: 1) The first token is an externally traded token called Cosmo Coin, 2) The second token as well as an index of contribution to the platform is Cosmo Power, which can be used to make payment within the platform and given out as rewards for activities, and 3) The one virtual index is called Cosmo Level. Cosmo Level, a reputation index, is designed to prevent abuse of power within the platform and can only be accumulated by actual activities and contribution. Having been assigned distinct roles within the Cosmochain platform, these three entities construct a healthy ecosystem. ● The success of the Cosmochain platform lies in the active participation of users – where customers create reliable data after trying out various cosmetics products and sharing the experience with one another on the platform. As a result, Cosmochain has designed its own transparent and fair reward system based on Steemit’s incentive model. ● The Cosmochain platform connects this user-created data to interested company participants and distributes the payment made by the company to customers as reward for use of the information. Through this reward system, Cosmochain aims to address two structural issues of social media-based platforms: 1) risk of inflation following the necessity of a long-term and great quantity of token issuance to grow the community, and 2) risk of decreasing attractiveness of contribution rewards after the inflation rate has been stabilized. ● In addition, the Cosmochain platform aims to realize an upgraded tokenization model that brings the power back to its users by redistributing the following: (i) the right to display ads in a user’s viewing space, (ii) the right to access a personally curated Marketplace, and (iii) the right to share personal data to partake in a study or survey. Simply speaking, the Cosmochain platform will go beyond simply allowing users to share onedimensional personal information. As such, Cosmochain serves the purpose of revolutionizing the cosmetics industry’s ecosystem by redistributing ownership and management authority of personal cosmetics data and contents to those in need, and through operations of transparent rewarding system for the redistribution of data.

Gnosis GNO

Gnosis is a prediction market platform built as a decentralized application (dapp) on the Ethereum network. The platform includes a multisig wallet as well as a Dutch Exchange, but we’re just going to focus on their flagship product, the prediction market, for this guide. More than just building a prediction market, though, Gnosis is creating an entire infrastructure layer that you can use to build your own prediction market app. A prediction market utilizes user predictions to aggregate information about future events. Users in the market trade tokens that represent the outcome of a certain event. Because some outcomes are more likely to occur than others, these tokens end up having different values in the open market.Olympia is Gnosis’s test version of their prediction market app. They host free tournaments in this product, so you get a chance to try it out without having to spend money. Every two days, the team allocates you a certain amount of Olympia (OLY) tokens that you use to bet on different prediction markets. If you do well in the market, you win Gnosis (GNO) tokens. You can sell GNO on the open market which gives them some monetary value. The next phase of Gnosis is its Management Interface. The team released a beta version in December 2017 but haven’t announced a date for the main net release. The Management Interface is basically your dashboard for Gnosis’s prediction markets. It’s here that you check your balance, participate in markets, and even create your own market. Gnosis includes two types of tokens: Gnosis (GNO) and OWL. GNO are the ERC20 tokens that the team sold during their ICO. They created 10 million GNO tokens and aren’t minting any additional ones. These are the tokens that you see being traded on the open market. By staking GNO, you receive OWL tokens. To do this, you must lock your GNO in a smart contract making them non-transferable. The amount of OWL you receive is dependent on the length of your lock period as well as the total supply of OWL tokens in the market. The team is aiming to have 20x more total OWL than the average amount of monthly OWL usage over the previous 3 months. The Gnosis team is led by Martin Köppelmann (CEO), Stefan George (CTO), and Dr. Friederike Ernst (COO). Köppelmann and George began working on the platform in January 2015 as one of the first ConsenSys partners. By August of that same year, they launched the alpha product as the first major dapp on Ethereum. In April 2017, the project held somewhat of a controversial Initial Coin Offering (ICO). Using a dutch auction style of raising funds, the team hit their $12.5 million hard cap in ten minutes while retaining 95% of the tokens. Amidst backlash, the team locked the tokens in a vault and have promised not to dump them on the market. They’ll give at least a three-month warning before selling any of the tokens. The team includes quite a list of reputable advisors including Joseph Lubin (Ethereum co-founder and ConsenSys founder) and Vitalik Buterin (Ethereum founder and chief scientist).

SOURCE: COINGECKO

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