$87.86
24h
-10.84%
23 Jun, 09:22
GNO trades at 7% discount to treasury NAV
Bullish-15.94%
AI Summary
The author presents a bullish arbitrage thesis on GNO, noting it trades at a 7% discount to treasury NAV and recommends holders redeem and buy back more tokens.
Gnosis DAO voting on one-time, pro-rata treasury redemption.
Logic:
- GNO trades at ~$106
- The treasury behind each token is worth ~$115
So GNO trades below the assets backing it.
GIP-151 lets holders:
- Redeem your GNO for your pro-rata share of the $156M treasury at NAV. Liquid assets in kind, the rest in stables
- Or keep your GNO.
That's about 7% discount.
Seriously, if you're a $GNO holder and even if you believe in Gnosis, you should redeem, and buy back more of $GNO
(although taxes would complicate the calculations).
Ideally, $GNO price catches up with the Treasury value before the vote ends.