MetaEra message, May 21 (UTC+8), Gnosis co-founder Martin Köppelmann launched the Circles v2 protocol, integrating components like Metri wallet, Safe, CoW Swap, built on top of the Gnosis Chain. This experimental project aims to create 'community-owned currency', with each member automatically receiving 1 exclusive ERC-20 token every hour, resulting in a daily production of 24 tokens. One of the major improvements in Circles v2 is the introduction of GnosisPay, a non-custodial, Visa-supported card and crypto payment solution. V2 also introduces the concept of 'Group', which is a collection of different Circles united under a common ERC-20, enhancing interchangeability. Köppelmann stated that Circles achieves decentralized currency issuance through a hard-coded allocation mechanism (rather than a Bitcoin-style supply cap), with its value depending on community consensus—viewed as both a promissory note and a redeemable asset. Users need to 'connect' with each other for the tokens to have meaning, a design aimed at addressing the centralization issue among early Bitcoin holders. Ethereum founder Vitalik Buterin once referred to the project as 'a quasi-universal basic income experiment'. (Source: PANews)
