Today, a proposal to make the SAFE token transferable has entered the review phase of Safe governance.
Should it be approved in the forthcoming governance vote,
@safe will have a transferable token as early as April 23.
The only steps left after today are the following:
1. At least 3 delegates/Guardians need to signal the maturity of the proposal before April 1, 23:59 UTC
2. Proposal needs to be submitted to Snapshot before April 2, 23:59 UTC
3. Safe token holders need to vote in favour of the proposal on Snapshot during the voting phase (April 4 - April 15)
4. Following the voting phase, there is a 3-day SafeSnap/Reality timeout period + 5-day cooldown period before the token contract can get unpaused
Assuming all goes according to plan, the token is set to become transferable on April 23 🎉
This would be a huge milestone for SafeDAO and the beginning of a new chapter on a journey that started more than 7 ½ years ago with
@StefanDGeorge's initial commit to the Gnosis MultiSigWallet repo. That was on September 8, 2016!
Two years later, in July 2018, the first audited version of the Gnosis Safe Contracts was released: Version 0.0.1, which included for the first time support for modules to extend functionality.
In early 2022,
@GnosisDAO then voted to spin out Gnosis Safe, which subsequently rebranded to Safe and announced a $100M raise at a $1.25B valuation. Investors included
@1kxnetwork @paraficapital @bcap @cbventures @LongHashVC, etc.
Some time later, in September 2022, SafeDAO and the non-transferable SAFE token launched.
An initial vote on enabling transferability which was initiated by me failed to get a majority of voting power behind it, and 5 milestones were agreed upon before voting again on making the token transferable.
Those milestones have all been completed with the Safe Token Utility Framework being the last one earlier this year.
With the token transferability now being so close, it's also worth looking into the adoption metrics for Safe, and they are nothing short of remarkable: it secures a staggering $125 billion in assets, and more than 7.5 million
@safe smart accounts have been deployed. A significant portion of these accounts were deployed by
@worldcoin, which sets up a Safe for each of their World App users.
Beyond that, Safe smart accounts are also trusted by some of the leading figures in the Ethereum community:
@VitalikButerin for example holds 243,000 ETH in his Safe, almost all of his holdings;
@punk6529 is also an eager user of Safe and has shared some fantastic guides for it on his account.
Read the proposal to unpause the SAFE Token Contract (Enabling Transferability) on the SafeDAO forum:
forum.safe.global/t/draft-un…