Gnosis DAO’s ongoing Snapshot vote on a proposal to let GNO holders claim a share of the DAO treasury has gained fresh momentum after a major token holder shifted the balance. The treasury is valued at roughly $223 million and includes ETH, stablecoins, and ecosystem tokens.
The proposal has drawn attention because of the gap between GNO’s market price and the implied value of treasury-backed redemption. With GNO trading at around $132, the plan values each token at about $170 in treasury assets, suggesting an approximate 27% discount in the market.
Whale Vote Reshapes the Race
A key turning point came when a whale wallet holding 67,000 GNO voted in favor of the proposal. That vote helped offset earlier opposition from Gnosis co-founder Stefan George, who had voted against the measure. The whale’s support significantly changed the vote dynamics and boosted the proposal’s chances.
At the latest count, about 116,000 GNO, representing 65% of votes cast, support the proposal. That total is already above the required 75,000 GNO quorum. The vote remains open until May 12, so the final outcome is still pending.
Governance Debate Expands Beyond Price
Supporters argue the redemption plan could address structural misalignments within the DAO by giving token holders a clearer path to underlying treasury value. In their view, the move could improve alignment between governance rights and economic ownership.
Opponents, however, warn that approving the proposal could weaken the DAO’s ability to fund long-term initiatives. They have specifically raised concerns about the potential impact on projects such as Gnosis Pay and Gnosis Chain. As a result, the vote has become a broader debate over whether treasury capital should be used for direct holder value realization or preserved for ecosystem growth.
For now, the proposal has crossed a crucial threshold, but the broader strategic disagreement inside the Gnosis community remains unresolved.