Gnosis Auction Demo with ICO DApp

Gnosis is the platform for the next generation of prediction market applications. Its a long-awaited project in Ethereum community, and now finally opens ICO. The token auction starts on April 24th, 17:00:00 GMT.

Gnosis has been working closely with imToken in the early days, and we will also support prediction market applications from the Gnosis platform. Gnosis officially partnership with imToken to help users better understand the auction rules and easier to join. The ICO DApp produced by imToken has been launched and setup a test run on Ropsten. Anyone who’d like to know much about the token aution, you should try out.

Gnosis Token Auction

In the Gnosis launch, 10 million Gnosis tokens (GNO) will be created and a percentage of them will be distributed through the token launch. The launch period will end when either of the following ending criterion is met: approximately $12.5M USD denominated in ETH worth of GNO is sold, or 9 million GNO tokens are sold.

During the launch, participants will be able to send Ether to a token launch address, committing to buy GNO at or below the current price at the time of their purchase. The price of GNO will be determined by a falling, as compared to the current trend of rising, price specification. The price of GNO will decrease every block that elapses during the launch. The price per GNO sold in the final block, when either ending criterion is satisfied, is the price that will be applied to all preceding sales during the launch period. Therefore, token launch participants are committing to a maximum price per Gnosis token and will receive tokens at this rate or lower.

imToken tutorial

Download imToken via https://token.im , then create or import ethereum wallet. Caution! Please backup the wallet after above operation immediatly. Please prepare the ETH in advance, then you are good to go.

Click the “ICO” dapp icon in the Discover tab, then go to the gnosis detail page

2. Input the amount, click ‘Join ICO’ button, confirm to send the transaction. It’s done.

3. GNO will be locked for 7 days. When unlocked you simple come back to the Gnosis ICO page and click on the “Claim” button, you shall received the right amount of GNO. From the “Assets” tab, click the “+” icon, switch on GNO token then you shall see the balance of GNO in the main screen.

PC tutorial

On PC, with the ICO DApp https://ico.token.im/gnosis , you can join the auction easily with Metamask or Mist.

More info： https://ico.token.im/gnosis

Gnosis website：https://gnosis.pm