Gnosis chain blockspace purchasing stats
xDAI Supply & Stablecoin Stats
By design, xDAI is a token that heavily tied with DAI on the Ethereum mainnet. In fact, the process of minting and burning xDAI is done, uncommonly for gas tokens, purely via a xDAI bridge that ensures the peg to DAI on the mainnet.
As such, xDAI is ntaurally a representation of an offchain (from Gnosis' perspective) asset, in this case DAI on Ethereum. Note that there is no hard peg guarantee; rather, the peg is maintained by the market thanks to the ability to bridge in both directions.
[5] = ƒ(backing_value)
backing_value — is the total value of DAI in the Bridge contract on ETH MainnetxDAI is the gas token of the Gnosis chain (but not its native token!). As such, it serves as a sole admissible medium in which payments for blockspace may be processed.
Please note that, although an analogue of EIP1559 had been implemented in Gnosis, and base fees are therefore burnt, this does not beget any appreciation of xDAI due to the peg.
[1] = ƒ(block_throughput, fee_total)
block_throughput — the block throughput (therefore also a measure of the blockspace available for purchase)fee_total — the total amount of fees collected over a given period of time