Safe token transfer function enabled, tokens officially launched with marketing activities.

The multi-signature smart contract wallet Safe has announced that its governance token SAFE will enable transferability, allowing the SAFE tokens distributed through an airdrop in 2022 to finally be traded. They have also launched the Safe{Pass} points activity to continue the token's marketing utility.

Background: Introduction to Safe

Introduction to Safe Multisig Wallet

The Safe wallet is the most famous smart contract wallet in the Web3 ecosystem, which was spun off by the GnosisDAO team in 2021 to operate independently. The latter is an important development team for the crypto industry's infrastructure. Safe operates its own SafeDAO system and legal entity, and has its token model.

One of the most notable features of the Safe wallet is its multisig technology. Currently, the vast majority of team wallets behind DeFi protocols use Safe's multisig, which carries significant influence. For more information, please refer to this link.

SAFE Token Issued in 2022

The governance token SAFE was issued as early as 2022. However, due to considerations by the development team, the token was initially set as non-transferable, meaning SAFE was non-tradable, sparking much discussion and backlash within the community at that time.

Eventually, in November of that year, Safe DAO reached consensus through a proposal that required the Safe team to complete several milestones before enabling the transferability of SAFE tokens, including enhancing governance structure and token use case planning, among five other milestones.

With the recent fulfillment of the last requirement, Safe DAO initiated another proposal and successfully passed it, enabling the transferability of SAFE tokens.

SAFE Token Economics

Basic Information of SAFE Token

• Name: SAFE
• Mainnet: Ethereum ERC-20
• Address: 0x5aFE3855358E112B5647B952709E6165e1c1eEEe
• Total Supply: 1 billion tokens

Token Distribution

• Users: 5% of the total supply, 50 million tokens allocated, with half immediately airdropped and the other half linearly unlocked over four years.
• Ecosystem Contributors: 5% of the total supply, 50 million tokens allocated, with half immediately airdropped and the other half linearly unlocked over four years.
• Core Contributors: 15% of the total supply, 150 million tokens allocated, with the remaining tokens reserved for future talent, linearly unlocked over four years.
• Ecosystem Incentives: 7% of the total supply, 70 million tokens allocated, supporting ecosystem rewards and activities requiring corporate entities. 20 million tokens are immediately usable, with the remaining unlocked linearly over four years.
• Advisors: 8% of the total supply, 80 million tokens allocated, subject to a one-year lockup period, linearly unlocked over four years.
• SafeDAO and GnosisDAO Treasury: 60% of the total supply, with 40% allocated to the former linearly unlocking over eight years, 15% to the latter linearly unlocking over four years, and a joint treasury allocation of 5% with no lockup, requiring governance voting for asset use.

Since the SAFE token was issued in the latter half of 2022, it is important to note that the current timeline has already passed almost two years.

Utility of SAFE Token

The SAFE token currently serves two purposes and has other future plans:

• Governance: SAFE token holders can participate in governance forum proposals and voting, a feature that has been in operation since 2022.
• Safe{Pass} Activities: Safe DAO has launched a new round of marketing activities called Safe{Pass} utilizing the token. It rewards all users of the Safe wallet with points, and staking SAFE tokens can earn up to double points. These points are expected to be redeemable for free transaction quotas within the wallet, limited NFTs, and more.

Future plans include the introduction of other functions, but the team has stated that decisions will be made based on feasibility and regulatory assessments. Potential solutions may include token staking, advanced wallet features, etc.