To ensure the successful launch of its DAO (Decentralized Autonomous Organization), Gnosis Safe on Thursday announced plans to circulate 50 million SAFE tokens across thousands of secure wallets.
Gnosis Safe uses smart contracts to support its multi-signature wallet. A multi-signature or multi-signature wallet requires the signature of more than one person to execute a transaction. Gnosis Safe allows users to securely store Ethereum and ERC20 tokens and interact with decentralized applications.
Last month, Gnosis Safe, originally a product in the Gnosis ecosystem, rebranded to Safe after splitting from Gnosis. Members of the SAFE community also voted for the launch of SafeDAO and SAFE tokens.
In conjunction with the announcement of the airdrop, Ceph shared a spreadsheet containing over 45,000 eligible Ethereum addresses. Secure users who created their address before February 9th, 2022, are eligible for an airdrop to launch SafeDAO.
“By giving SAFE token holders control over the core components of the SAFE ecosystem, SafeDAO is able to offer a value capture and rewards program that supercharges the Gnosis SAFE ecosystem flywheel,” wrote Lucas Shor, co-founder of SAFE.
SAFE says that SafeDAO will send at least 400 SAFE tokens to 21,935 addresses, or more than half of eligible wallets.
SAFE says the goals of the airdrop include decentralizing SAFE governance, rewarding active users, and increasing awareness of SAFE and SafeDAO.
Gnosis Safe provided a breakdown of the allocation in an announcement posted on its forum. Of the 45,025 secure wallets created prior to the proposal, 10,453 never did a single transaction. Nevertheless, 21,935 SAFE wallets contain SAFE tokens, the largest of which is 129,339.85, and the average active wallet is 2279.46.
,[The February proposal] Introduced plans to launch SAFE Tokens. 5% of the total supply is allocated to reward users for their past contributions and usage,” Safer co-founder Tobias Schubotz wrote in a forum post. “Half of those 5% will be available immediately, and the rest Half will vest linearly in 4 years.”
Another goal, Schubotz wrote, is community ownership.
“Long-term, we envision Safer as a community-driven project. It empowers them to own a portion of the product they use,” he wrote.