Gnosis Chain now supported on Ambire Wallet

Ambire Wallet now supports Gnosis Chain, expanding its multi-chain capabilities and offering users more options for decentralized applications.

The Ambire Team

Apr 20, 2022 • 2 min read

Today, we integrated the 8th supported blockchain on Ambire Wallet, namely the stable payments EVM Gnosis Chain. With the addition of Gnosis Chain we open another world of opportunities in DeFi for the Ambire users.

What is Gnosis Chain?

Previously known as xDAI, the Gnosis Chain is a highly secure, resilient, and decentralized EVM Layer 1 network designed for fast and inexpensive transactions. The network has been around for a long time, in fact, it is one of the first EVM sidechains, long before sidechains became a thing.

Gnosis is a collective of aligned projects revolutionizing payment infrastructure to make decentralized financial tools accessible and usable for all. The Gnosis ecosystem includes Gnosis Studio and GnosisVC, the developer, investor, and incubator of leading decentralized solutions.

How does the Gnosis Chain work?

The chain uses a unique dual-token model; xDai is a stable token used for transactions, payments, and fees, while GNO is used for governance and staking on the Gnosis Chain. GNO also acts as an index token for the Gnosis ecosystem, which incubates, invests, and supports early-stage projects.

Some of the benefits of using Gnosis Chain as taken from Gnosis Chain’s website:

✅ Fast transaction times (5 seconds) & low transaction fees (500 tx for $.01).
✅ Digital cash. A stable chain is ideal for real-world value exchange where 1 xDai = 1 US Dollar.
✅ A stable token for transactions & gas fees.
✅ A green, energy-efficient, and ecologically aware blockchain network.
✅ Permissionless delegated Proof-of-stake-based consensus with public POSDAO.
✅ Wide-ranging Community Support
✅ Growing ecosystem designed to support stable person-to-person transactions, microtransactions, conference currencies, community currencies, DeFi, NFTs, DAOs, games, and more.
✅ Full-featured BlockScout Explorer.
✅ On-chain, decentralized Random Number Generator.
✅ Smart Contract, DApp & toolset compatibility with other Ethereum-based chains like Ethereum, Ethereum Classic, BSC, etc.

Gnosis Chain and Ambire Wallet

In Ambire Wallet, you can easily enter the Gnosis Chain world and tap into the already emerging DeFi ecosystem that is growing there. No need to add Gnosis Chain as a custom network, as you will see it in the dropdown menu in the top right corner of your Ambire Wallet — you can easily switch between all supported networks, including Gnosis Chain.

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