The GNO Cashback Offer gives Gnosis Pay users a chance to earn rewards based on their GNO token holdings and card payments. Below, we explain everything you need to know about how the cashback offer works, eligibility, and how to participate.
What Is the GNO Cashback Offer?
The GNO Cashback Offer allows eligible Gnosis Pay users to earn cashback in GNO tokens based on their GNO holdings and eligible card payments. The more GNO you have in your Gnosis Pay Safe, the higher your cashback percentage will be - up to a maximum base cashback of 4%. This offer was approved by GnosisDAO under GIP-110 and is operated by Karpatkey, with rewards distributed weekly. The full terms of the offer can be found on the GIP forum post here.
Eligibility Criteria
To participate in the cashback offer, you need to meet the following criteria:
Gnosis Pay Account: You must have an active Gnosis Pay account that is not frozen, suspended, or closed.
GNO Token Holding: You must hold at least 0.1 GNO in your Gnosis Pay Safe before the start of the "snapshot period", which is the seven days before any card payment.
Compliance: You must be in compliance with Gnosis Pay’s terms and conditions.
If you don’t meet these criteria at the time of distribution, you won’t be eligible to receive cashback.
How to Participate
Opt-In: You need to opt-in to the offer through the Gnosis Pay Web App.
Hold GNO Tokens: Ensure you hold at least 0.1 GNO in your Gnosis Pay Safe before the start of the snapshot period.
Make Card Payments: Use your Gnosis Pay card to make eligible payments (excluding ATM withdrawals). Only payments up to EUR 20,000, GBP 18,000, or USD 22,000 per calendar month qualify for cashback.
You can opt out of the offer at any time by reducing your GNO balance below 0.1 GNO or transferring your GNO tokens out of your Gnosis Pay Safe.
Cashback Calculation
Cashback is based on two things: your eligible transaction volume and your GNO holding rate (which ranges from 1% to 5%).
To calculate your cashback, we multiply your eligible transaction volume by your GNO holding rate.
The snapshot period runs from Sunday 00:00 to Saturday 23:59, and cashback is paid out the following Thursday.
Eligible Transaction Volume:
Included: All POS and E-commerce purchases.
Excluded:
Withdrawals,
Account and wallet top-ups (like Revolut, Wise, Monzo, Paypal, N26, Klarna etc),
Curve cards and any other type of account funding transactions,
Reversed withdrawals.
Subtracted: Credit vouchers and payment reversals lower your eligible volume.
GNO Holding Cashback Rate:
We calculate your cashback rate based on the lowest amount of GNO held in your Gnosis Pay Safe address during the snapshot period. The cashback rate scales continuously between tiers:
0.1 GNO: 1% cashback.
1 GNO: 2% cashback.
10 GNO: 3% cashback.
100 GNO: 4% cashback.
OG NFT holder boost: +1% cashback.
Example:
For example, if you add 1 GNO on Monday and add 9 more on Sunday, the lowest balance for that period will be 0 GNO, giving you 0% cashback. For the second period, with 1 GNO, you'll earn 1% and for the third period you'll earn 4% due to reaching 10 GNO.
OG Bonus
If you hold a Gnosis Pay OG NFT in the Gnosis Pay account owner wallet, you will receive an additional 1% cashback on top of your base rate. This means that if you qualify for 3% cashback, you’ll receive a total of 4% as an OG Holder.
Receiving Cashback
Cashback rewards are distributed weekly in GNO tokens to your Gnosis Pay Safe, 5-12 days after the relevant card payment. The reward is calculated in the currency of your card payment using the latest GNO/USD, EUR/USD, or GBP/USD exchange rate.
Important Rules
Payment and GNO Manipulation: Activities such as wash trading, self-dealing, or other manipulative actions will disqualify you from receiving cashback. Similarly, payments that involve refund cycling, misleading purchases, or attempts to game the system won’t count towards eligible card payments.
Refunds: If you receive a refund on a card payment, cashback for that amount will be suspended until the refunded value has been offset by new eligible payments.
Limits and Availability
The cashback offer will end when the total reward pool of 10,000 GNO is exhausted, or as determined by GnosisDAO. Cashback rewards are only available while there are funds in the reward pool.
Terms and Conditions
Please read the full terms and conditions on GIP-110 here.
Need Help?
If you have questions, feedback, or need assistance with the GNO Cashback Offer, please contact us at the chat or [email protected]. We’re here to help!
Tax Considerations
Please note that cashback rewards may be taxable based on your local tax laws. You are solely responsible for any applicable levies, duties, or taxes and for reporting your cashback rewards if that is required in your jurisdiction.
No Financial Advice
Participating in the offer involves holding and transferring cryptocurrency, which carries risk including the possibility of financial loss. Please obtain professional financial advice before making any investment or trading decisions.