GnosisDAO approves Gnosis Chain for Ethereum Economic Zone
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
GnosisDAO has approved the transformation of Gnosis Chain from a standalone layer-1 blockchain into a zero-knowledge (ZK) proven Ethereum Economic Zone (EEZ) rollup. The proposal GIP-153 passed with 123,158 GNO supporting votes, surpassing the 75,000 quorum. This change will retire Gnosis Chain’s validator set and make it a layer-2 network settling transactions on Ethereum, targeted for launch in late 2026 or early 2027.
Why it matters
The transition is expected to enable Gnosis Chain smart contracts to interact directly with Ethereum mainnet assets and liquidity within the same transaction, a feature claimed to be unavailable on current L2s. According to Geoffrey Kendrick from Standard Chartered, the EEZ model could reduce dependence on blockchain bridges—common points of security risk—and increase composability and activity within the Ethereum ecosystem.
Key context
The EEZ framework, developed by Gnosis and ZisK with Ethereum Foundation funding, seeks to unify Ethereum’s fragmented layer-2 landscape by allowing synchronous smart contract execution across rollups without bridges. This approach addresses Ethereum’s trade-offs between scaling throughput and liquidity fragmentation. Ethereum co-founder Vitalik Buterin has expressed concerns about centralization and bridging issues in current L2 designs, emphasizing the need for a new approach.
Key numbers and entities
GnosisDAO voters delivered 123,158 GNO in favor of GIP-153, with 115 votes against and 151 abstaining, totaling 54 voters. The quorum was set at 75,000 GNO. The Ethereum ecosystem, according to L2Beat data, includes 22 rollups securing $27.82 billion, with a total of $34.88 billion secured across various scaling solutions. Key organizations mentioned include GnosisDAO, Ethereum Foundation, Gnosis, ZisK, and Standard Chartered.
What remains unclear
The article does not provide specific technical details about the EEZ’s underlying technology readiness or the precise mechanisms for validator retirement and transaction settlement on Ethereum. It also does not clarify the full implications for existing users during the transition period or the regulatory considerations that might arise from this shift.