After being spun off from Gnosis, the Safe community is now faced with the proposed distribution of 50 million SAFE tokens. This will result in the successful launch of its independent SafeDAO to govern the Gnosis Safe ecosystem.
Gnosis Safe’s multi-signature wallet is powered by smart contracts. To execute transactions, a multi-signature or multisig wallet requires the signatures of more than one person.
According to the current proposal, the goals of the reward airdrop include decentralizing SAFE governance, rewarding active users with more tokens than less active users, raising awareness of Safe and SafeDAO, and making it a community-driven project.
Safe made available a spreadsheet containing over 45,000 eligible Ethereum addresses. Safe users who created their address before the February 9, 2022, proposal to launch the SafeDAO are eligible for the airdrop.
This is the cut-off date because, on this day, the spin-off proposal was moved to phase 2 of the GnosisDAO governance process in order to “prevent users from gaming the allocation and rather reward real users instead of airdrop hunters.”
“[The February proposal] presented plans of launching a SAFE token. 5% of the total supply is allocated to reward users for their past contributions and usage. Of those 5%, half will be available immediately and the remaining half will be vesting linearly over 4 years.
Last month, the digital asset management platform Gnosis rebranded as Safe and secured a $100 million funding round led by 1kx.
Users can use Gnosis Safe to securely store Ethereum and ERC20 tokens and interact with dApps. The total amount of ETH stored in Gnosis Safe contracts is nearly 1.6 million, which is the starting point for calculating the value stored per Safe.
According to the Safe proposal, the SafeDAO will send at least 400 SAFE tokens to 21,935 addresses. Initially, Safe governance will take place on the Ethereum mainnet.
