The Gnosis team is working toward a DeFi future in which various blockchain and digital assets are linked. Conditional tokens allow asset trading based on the likelihood of an event occurring or having an impact on other events. Gnosis Protocol is an Ethereum-based permissionless decentralised exchange (DEX). In fact, the DEX was named CowSwap after it (COWS). CoW addresses issues by executing exchange settlements across all orders with a matching token price limit.