Gnosis launches the Gnosis protocol on the decentralized exchange, targeting large value traders at the optimal execution price

Gnosis, a spin-off from ConsenSys, announced the launch of the new decentralized exchange (DEX) Gnosis protocol, which provides the best execution price for large traders. Specifically, a trader needs to set a price ceiling when placing an order. After this transaction is packaged with other transactions, a solver is introduced to provide the best price for multiple transactions through auction. Transaction fees, each auction lasts 5 minutes, and orders that have not completed settlement will be passed to the next package. This means that traders have to wait at least 5 minutes to complete the transaction, so it cannot provide immediate settlement, thereby attracting large order customers with a price advantage. Batch price execution can also achieve circular transactions, that is, matching and settlement of more than two asset holders (also holding more than two types of assets). This batch auction solution can be integrated with other DeFi protocols, especially those that require clearing auctions, such as Compound. The user interface of the agreement is managed by dxDAO, which runs DutchX, the first decentralized exchange on Gnosis. The Gnosis protocol is completely decentralized, without the administrator key, and its smart contract cannot be updated.