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Summary
About Safe
- Safe is the ownership layer of web3, securing over $100B+
- Includes Safe{Core} and Safe{Wallet}, the industry-standard multi-sig
- Focused on making every Ethereum account a smart account
Key Statistics
- 200+ projects in the ecosystem, including Gnosis Pay and Worldcoin
- Deployed in over 15 networks
- 8M+ Safe accounts created as of April 2023
- 40 million+ transactions
Why use Safe accounts?
- Traditional web3
About SafePal
What Constitutes Safety in the Realm of Cryptocurrencies?
Safe constitutes the ownership layer of web3, securing a staggering $100 billion+. This comprehensive ecosystem encompasses Safe{Core}, a full-stack account abstraction infrastructure, and the industry-standard multi-sig, Safe{Wallet}. The project’s primary objective is to transform every Ethereum account into a smart account, thereby unlocking novel use cases such as AI, Staking, Gaming, SocialFi, DeFi, and Payments. This vision is facilitated by gasless transactions, seamless face-ID-like logins, onramps, recovery, and more. With a thriving ecosystem of over 200 projects, including Gnosis Pay and Worldcoin, deployed across 15+ networks, Safe is building upon its smart account standard. Notably, Safe{Wallet} is widely utilized by prominent individuals, such as Vitalik Buterin and Punk6529, as well as web2 giants like Shopify and Reddit, for self-custody of assets and high-value NFTs.
As of April 2023, a remarkable milestone has been achieved, with over 8 million Safe accounts created, facilitating in excess of 40 million transactions. The open-source contracts have been rigorously battle-tested, formally verified, and audited multiple times, ensuring their integrity. Notably, since its deployment in 2018, Safe has maintained an impeccable security record, with no critical security incidents reported, thereby solidifying its position as the industry benchmark for security.
Why Opt for Secure Accounts?
In traditional web3 accounts, a solitary private key, often generated from a 24-word secret phrase, holds sway. As long as the user possesses this private key, they wield control over the account. However, these private keys frequently fall prey to loss or compromise, culminating in the irretrievable loss of the assets tied to the account.
On the other hand, Safe leverages smart accounts that can be tailored to meet the distinct custody requirements of various user groups, ensuring a bespoke experience for each.
- Authentication protocols incorporating multiple private keys (multi-signature) and decentralized autonomous organizations (DAOs), as well as innovative methods such as social login and passkeys.
- Modular components for integrating automations, assigning spend limits, and establishing role-based hierarchies within the account.
- Comprehensive recovery and inheritance mechanisms facilitated by Safe{RecoveryHub}.
- An enhanced transaction experience featuring batch processing and gas abstraction.
- Rigorous transaction checks and hybrid-custody solutions.
Introducing $SAFE: A Revolutionary Digital Asset
$SAFE is the indigenous ERC-20 governance token that oversees and orchestrates the infrastructure components of the Safe ecosystem, encompassing:
- Secure Smart Contracts
- Standardized Interface Protocols
- Decentralized On-Chain Assets
- Token Economic Models
Economic Token Structure:
- Governance: The governance of SafeDAO is facilitated through the SAFE token, as outlined in the SafeDAO Constitution. Token holders are empowered to exercise their voting rights within the scope of SafeDAO’s governance. For a comprehensive understanding of SafeDAO’s governance, please refer to the resource hub.
- Safe Activity Program: By locking SAFE, participants can amplify their rewards within the Safe ecosystem, thereby maximizing their engagement.
- Future Utilities: As the Safe ecosystem continues to evolve, the potential applications of the SAFE token are poised to expand exponentially. Through the voting mechanism, SafeDAO can steer the implementation of token utilities and chart the course for future explorations. The community is invited to actively participate in shaping the future of SAFE token utilities.
The Circulating Supply of SAFE Tokens: An Overview
On April 20, 2022, Safe was officially launched, accompanied by the minting of 1 billion SAFE Tokens by the Safe Foundation, an autonomous, non-profit entity dedicated to fostering the growth and development of the Safe ecosystem. Notably, this inaugural allocation constitutes the token’s fixed, maximum supply.
For a more in-depth exploration of the initial circulating supply and tokenomics, please refer to our comprehensive overview at
https://safe.global/blog/safe-tokenomics
.