Safe, a venue for the management of digital assets, declared to introduce SAFE (a governance token). With this, it will administer its uniquely established decentralized autonomous organization (DAO). The driving force at the back of the launch introduction of the respective token was the efficient decentralization of Safe (previously named Gnosis Safe).
Safe Declares Launching Safe Token and SafeDAO
Safe’s co-founder, Lukas Schor, mentioned that – keeping in view the Web3 world’s fundamental as well as the fine infrastructure – the decentralization governance is the only thing that can make sure the project’s neutrality in the long run. As per the co-founder, with SafeDAO, they will witness a flourishing ecosystem established on Safe Protocol to balance the stakeholders’ diverse interests.
The underlying protocol, having a valuation of up to $40B in the entirety of the Ethereum contracts in its possession, will be governed by the DAO. Looking at it from a historical perspective brings to the front that several DAOs organize airdrops for the distribution of the governance tokens that they offer such as Optimism, dYdX, Ethereum Name Service, Compound, and Uniswap.
Nonetheless, in this case, SAFE will not be airdropped but rather claimed. An already identified team of stakeholders has the eligibility to claim the respective tokens from the 28th of this month till the 27th of December this year. Among the stakeholders, there are more than 43,000 consumers of Safe, up to 140 ecosystem contributors (also known as Safe Guardians), nearly sixty strategic supporters, GnosisDAO, and the core contributors.
The tokens, which have not been claimed, will be put back into the treasury of the DAO. A few of the 190M SAFE tokens – approximately nineteen percent of the cumulative supply – will be specified for the chief stakeholders. None of the single known persons or entities will be permitted to hold above ten percent of the first voting power, as mentioned in the press release.
Safe Advances Further in Its Web3 and Consumer-Centered Endeavors
Safe is categorized among the biggest decentralized custodians as well as the managers of digital assets. It offers a wallet for smart contracts with the requirement of the least threshold of individuals for a transaction’s authorization in advance of the moving ahead. Though the smart contracts of Safe are mostly dominating on the blockchain of Ethereum, they additionally operate on many other blockchains. These blockchain platforms take into account, Polygon, Optimism, Gnosis Chain, Binance Smart Chain, Avalanche, Aurora, and Arbitrum.
On the official Twitter account of Safe, the venue posted a large thread of tweets describing the latest initiative. As per the venue, they provide the finest Web3-based goods and are already spreading the ecosystem thereof. As per the venue, Safe Guardians will play a significant role in the protection of the public good (known as Gnosis Safe) after joining the SafeDAO-based governance force. The company declared a funding round of nearly $100M under the lead of 1kxnetwork for advancement in the management of digital assets as well as permitting everyone to have ownership.