According to the official announcement, Ethereum prediction platform Gnosis announced the launch of DEX Gnosis Protocol. According to reports, Gnosis Protocol is a completely permissionless DEX that supports a new mechanism called ring trading to maximize liquidity.
Ring trades are order settlements that share liquidity across all orders, rather than for individual token pairs. For each executed trade, Gnosis Protocol charges a volume fee of 0.1%.
The fee is included in the limit price of the trader and paid in the tokens they sell. All fees are then converted to OWL, a token generated by locking the Gnosis token GNO. 50% of the fee will be paid as an incentive to the provider of the selected order settlement solution, while the remaining 50% of the fee will be burned.