Edit: I changed Gnosis’ front page $300 extrapolated number to 250k ETH at $50/ETH = $12.5 Mil for clarity and self containment.

Alright, so the Gnosis dutch auction reached their goal of 250K ETH in less than 15 minutes. I’m not too terribly surprised, to be honest, it was an incredibly popular project in the space.

$12.5 million in less than 15 minutes…

I was too late, because I was fiddling around with other things, like my job. But this gave me a fantastic opportunity to procrastinate and dive deeper into who bought in. To be a bit more precise, what does the distribution of auction’s transactions look like, and what can it tell us?

So I found the Gnosis wallet address (here), and looked at its internal transactions, which added up to exactly 250,000 ETH. I’ll discuss what this does and doesn’t give later in the blog. What I have here is a simple overview of transaction distribution throughout the window in which the auction was open.

Below we can see the amount of ETH deposited into the address, separated by block number: