GnosisDAO approves treasury redemption for GNO holders

GnosisDAO has approved GIP-151, a one-time treasury redemption that lets GNO holders hand in tokens for a pro rata share of liquid DAO assets. For crypto investors, the vote matters because it gives a governance token a clearer link to balance-sheet value, rather than leaving valuation tied only to future influence, grants, or possible fee rights.

The proposal passed with 215% of the required quorum. The threshold was 75,000 GNO, and the final vote represented about 161,250 GNO. Earlier reporting around the related GIP-150 push put the treasury near $223 million and implied redemption value around $170 per GNO, versus a market price near $132. More recent DeFiLlama data placed the treasury near $228 million, but only about $109 million appears liquid after excluding own-token exposure.

Around the time GIP-151 passed, DeFi analyst Ignas estimated GNO at about $106, against treasury value of roughly $115 per token. That gap is what makes this vote notable. It shows that holders may be able to buy below adjusted treasury value, build voting power, and push for redemption.

The outcome also raises legal and structural questions. US regulators could examine whether tokens used this way start to look less like pure governance assets and more like claims on a managed pool of capital.