Launching SafeDAO and Safe Token ($SAFE)
AniChohan
0x1210
Lukas Schor
0xa960
Safe | Gnosis Safe
0x3F62
September 28th, 2022
  • Safe is on a mission to unlock digital ownership by championing smart contract accounts as a standard of ownership across web3.

  • In order to decentralize the governance of this critical infrastructure, Safe is launching Safe Token to steward SafeDAO. The DAO will govern Safe protocol, interfaces, Safe Token supply and ecosystem growth.

  • $SAFE is now claimable for those eligible as of September 28, 2022, at 11 AM CET, and can be claimed till December 27, 2022, at 12 PM CET.

Safe - Critical infrastructure to unlock ownership through a smart contract account standard

Safe has already become critical infrastructure securing ~$40 Billion in self-custodial accounts. It is widely used by many in web3 including DAOs, institutions, funds, collectives and individuals.

Safe’s mission is clear: To make ownership in web3 more accessible, collaborative and secure. This mission will be achieved through driving smart contract accounts as a standard for owning assets, data and identity. On top of the battle-tested Safe protocol, a growing ecosystem of tools and products aims to be built, providing enhanced security and usability for web3 users.

Already today, this ecosystem consists of many teams building on top of Safe. These projects provide specialized solutions across savings (Streams, Linen Wallet), treasury management (Coinshift, Parcel), DAO tooling (Utopia Labs, Metropolis), NFTs (Prysm, Castle) and wallets (Rabby, Metamask Institutional).

Decentralizing the future of Safe

Decentralization is and always has been a value that defines Safe. In fact, Safe is the very public good used to decentralize ownership of a large number of web3 projects and DAO treasuries.

Given the responsibilities of building and growing this critical infrastructure, there was a pressing need to decentralize its development, growth and governance.

Following a spin-off from Gnosis, Safe raised $100 Million to accelerate growth and committed to giving control of the core components of the ecosystem to token holders. Now, SafeDAO is here and will be governed by $SAFE holders seeking to steward the project.

$SAFE allocation and governance

In an effort to effectively decentralize the governance structure, a diverse group of stakeholders has been identified to govern SafeDAO from day one. Those stakeholders include over 43k users as well as the Core Contributors, GnosisDAO, 140+ ecosystem contributors (Safe Guardians), and 60+ strategic backers.

No single known entity or person holds more than 10% of the initial voting power. The initial voting power for SafeDAO looks as follows:

With this initial governance structure, Safe is sufficiently decentralized at the outset and will continue to further decentralize over time, with more users, contributors and token holders. More information about the SAFE voting power and circulating supply can be found here.

Call to claim $SAFE and get involved

Safe Tokens are now claimable to the proposed  ~43k eligible Safe users and to previously appointed Guardians. Voting power can be delegated to vision-aligned Guardians for those who foresee being less active in governance participation themselves.

The claim app is now available right from the Safe application both on web and mobile. Claims can be made until December, 27th 2022 at 12:00 PM CET, after which any unclaimed tokens will be returned to the DAO treasury. $SAFE will be non-transferable at the outset and the governing community can decide if and when it becomes transferable in the future.

There are many ways to be involved in the Safe community. To get more involved with Safe governance join the Safe Discord and follow @safe and @safegovernance on Twitter.

Visit the Safe governance forum to weigh in on proposals and draft one yourself.

About Safe:

Safe is a decentralized custody protocol and a digital asset management platform securing ~$40 Billion in assets today. It is establishing a universal standard for custody of digital assets, data and identity with smart contract-based accounts. With its flagship web and mobile interfaces and an expanding ecosystem, Safe is on a mission to unlock digital ownership for everyone in web3 including DAOs, enterprises, retail and institutional users.

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