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POA + Gnosis
POA Network is now part of the much larger Gnosis ecosystem with the completion of the token swap and merge from POA to STAKE (and STAKE to GNO, which will be finalized on 31 May 2022).
POA was one of the first public sidechains functioning within the Ethereum ecosystem and was instrumental in the development of the first functional cross-chain-bridging architecture. This type of "mint and burn" bridge has become the defacto bridge infrastructure connecting L1s throughout Ethereum.
POA also led to innovations with open-source block explorers (Blockscout) and scalable architecture, and served as a model for the xDai stable chain, which is now the Gnosis Chain.
Following the token merge, POA Network will continue to operate as an execution-layer sidechain with Aura-based consensus and notary public validators. Code updates, client updates, and support and maintenance will be the responsibility of the public validators and open-source community, and will no longer be the responsibility of any central team.
POA Network will still be available as a rapid deployment, testing, and staging grounds for a wide range of EVM based applications and for other purposes. It is a decentralized ecosystem, and POA may be taken in different directions in the future depending on the validators and community and initiatives they may enact. The sky is the limit!
With the token swap now completed, POA tokens are no longer expected to hold any monetary value. POA tokens are delisted from exchanges and unavailable to purchase. The swapping mechanism has also been deprecated.
A majority of former POA holders swapped from POA to STAKE and STAKE to GNO, enabling them to participate in governance within the Gnosis Ecosystem. We invite former POA holders (now GNO holders) to checkout the GnosisDAO forum and create, comment, and vote on initiatives which will shape the next chapter of blockchain adoption.
Last modified 1yr ago