PAC Global PAC to Gnosis GNO Exchange

Crypto Pair Details: PAC to GNO

PAC Global PAC

PacCoin (PAC), or the People’s Alternative Choice Coin, is a lesser-known coin that’s been sitting since 2015. It experienced rapid inflation during 2017, which might be attributed to generous mining rewards. At the start of 2018, PAC had become one of the cheapest cryptocurrency coins out there, with a relatively large total supply of roughly 3.5 trillion coins and a planned cap of 100 trillion. It has a devoted community that hopes to see their holdings come to fruition and make them rich, believing in its future as an “Internet penny” that lends itself to micro-transactions. PACcoins started to trade at 0.0000$ as of only a couple of days ago. Later on, the coin gained some on its price with a couple of increases that helped the price jump from non-existent to existent. After the latest decrease that made the price drop for over –9%. This decrease led to the current price of 0.000031$, which is still better than having the coin traded at 0$. For now, it remains uncertain what will happen with PACcoin and how well this coin will perform after being re-launched three weeks from now. For now, we strongly advise to give this token a thought and consider investing – the price is still too low, so even if the coin drops again, you won’t be losing much money.

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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