即将交易，一文速览SAFE代币经济学与生态发展

Original author: Bob, BlockBeats

Overview

Safe (formerly Gnosis Safe), a decentralized custody protocol and digital asset management platform, was launched in 2018. Its slogan is Unlock Digital Asset Ownership. The offline team is mainly based in Berlin, Germany, and the Safe Foundation is in Switzerland. Registered in Zug.

Digital asset management platform, as the name suggests, after users transfer digital assets (tokens/NFT) to the Safe account smart contract address controlled by individuals/organizations, they can complete various conventional on-chain operations through many mainstream dApps integrated by Safe to realize assets Transparent management on the chain.

One version after another, the release of the Ethereum ERC-4337 standard makes wallet account abstraction (AA) a mainstream narrative that can lead the encryption industry to break through. It can also win the favor of Ethereum co-founder Vitalik Buterin, OpenAI founder Sam Altman, etc. What is the magic power of the highly respected Safe?

As an integrated infrastructure with multiple attributes such as smart contract wallet + multi-signature wallet + account abstract concept, Safe is also the absolute market share leader in the field of DAO fund management tools, building a conversion cost moat and a cost advantage moat. Its co-founder Lukas Schor announced SAFE at the Governance Forum as early as August 2022.Token economic model。

Token economic model

The total amount of SAFE is fixed at 1 billion, minted by the Safe Foundation. in:

User 5% (50 million coins):

Ecosystem members/guardians 5% (50 million coins): 25 million coins have been allocated, of which 12.5 million coins have been fully unlocked, and the vesting period of 12.5 million coins is 4 years. The remaining 25 million will be distributed to future guardians.

Institutional investors 8% (80 million coins): will be unlocked on July 8, 2023, with a vesting period of 4 years.

BlockBeats Note: On July 12, 2022, Gnosis Safe announced the completion of US$100 million in strategic financing, led by 1kx and participated by Tiger Global and others.

Safe Foundation 7% (70 million coins): vesting period is 4 years.

15% of core team members (150 million coins): vesting period is 4 years.

GnosisDAO Vault 15% (150 million coins): The vesting period is 4 years, starting on May 1, 2022.

SafeDAO Vault 40% (400 million coins): vesting period is 8 years.

GnosisDAOSafeDAO joint treasury 5% (50 million coins): fully unlocked.

Note: The top 100 safe airdrop addresses have clearly marked DAOs/organizations (59)

During Safes initial opening of user airdrop applications, a total of 11,635 addresses out of 43,575 qualified addresses actively applied for their SAFE airdrops. Afterwards, the Safe DAO governance community voted to remove half of the unclaimed airdrops (i.e., the excess 16.1 million) will be redistributed proportionally to the addresses of those who have previously received it. Those who have received it will be able to claim a total of approximately 190.45% of the SAFE tokens in the initial airdrop plan.

Ecology at a glance

The ecosystem built on Safe is booming, and many projects have completed financing of more than 10 million US dollars. As the underlying protocol/framework on which project mini-programs can be built, Safes open source project code base is also giving back. Web3 community and build a network effect moat.

Safe Ecological Map (2023) Source: Safe

Multis, an encryption startup built on Safe, announced the completion of US$7 million in financing in February 2022. Sequoia Capital led the investment, with participation from Y Combinator, Coinbase Ventures, MakerDAO and others.

Coinshift, a Web3 infrastructure startup powered by Safe, announced the completion of a $17 million Series A round of financing in May 2022, with Tiger Global leading the investment and Sequoia India and others participating.

Utopia, a DAO salary payment system built on Safe, announced the completion of a $23 million Series A round of financing in June 2022. Paradigm led the investment, with participation from Circle Ventures, Coinbase Ventures and others. Since then, Utopia has announced that it will shut down its services on November 6, 2023. The announcement emphasized that this action does not mean closing the company, but abandoning existing products and existing directions.

Fat protocol, thin application.

Protocols both create and capture much of the value driven by the applications built on them. The value returns to the Safe protocol, and the ecological flywheel develops healthily.

The choice of Buterin and OpenAI CEO

Ethereum founder Vitalik Buterin highly recommends multi-signature wallets

When mentioning multi-signature wallets, readers can only or first think of Safe, which means that Safe has built a moat of intangible assets (brand).

Forbes reported on May 12, 2021 that Buterin transferred the vast majority of his personal Ethereum holdings, namely more than 325,000 ETH (valued at more than 1.3 billion US dollars at the time), to a new wallet address generated through Gnosis Safe.

BlockBeats previously reported that Buterin has repeatedly recommended the use of multi-signature wallets:

1. Said on August 15, 2022, Hardware wallets are overvalued, and most people should deposit most of their tokens into multi-sigs (5 participants) and ensure a majority of them The keys are held by trusted family and friends.

2. Said on November 16, 2022, “Compared to hardware wallets, paper records, etc., I prefer social recovery and multi-signature wallets.”;

3. Said on March 17, 2023, “Multi-signature wallets (such as Gnosis Safe) are a simple and safe way to store funds. Self-custody is very important, and both individuals and the Ethereum Foundation use multi-signature wallets to store most funds.

Source: V God Reddit

Sam Altman’s encryption project Worldcoin ecological wallet “World App” integrates Safe

When World App was launched, it only integrated Safe, Uniswap, ENS, Circle, MoonPay and Ramp Network. From this, perhaps we can see the purest account abstraction/encrypted wallet that OpenAI CEO Sam Altman has in mind.

Source: Worldcoin

Conclusion

Safes most widely circulated title is Multi-Signature Wallet. Safe Lianchuang said that in fact, Safe is not just a multi-signature wallet. The most accurate definition is actually a composable smart account framework; it is a fully programmable smart account that can be used to cover any type of wallet through plug-ins. Use cases or user groups.

At the same time, as Safe is the pioneer in the new infrastructure track, there is no optional target that can be compared with the reference market value (MC) / fully diluted valuation (FDV), which brings broad imagination to stakeholders such as ecosystem builders and participants. space.