The world of Web3 is evolving rapidly, and at the heart of this transformation lies Safe, formerly known as Gnosis Safe. As a foundational pillar in decentralized ownership, Safe has emerged as the leading smart account standard, securing over $100 billion in digital assets across more than 15 blockchain networks. With its robust infrastructure, industry-wide adoption, and growing ecosystem, Safe is redefining how individuals and organizations interact with blockchain technology.
Whether you're a developer building the next generation of decentralized applications (DApps), an investor tracking SAFE token price, or a crypto enthusiast interested in secure asset management, understanding Safe’s role in the Web3 landscape is essential.
What Is Safe?
Safe is the ownership layer of Web3, designed to make every Ethereum-based account a smart account. It consists of two core components: Safe(Wallet), the industry-standard multi-signature wallet, and Safe(Core), a full-stack account abstraction infrastructure that enables developers to build secure, user-friendly applications.
By integrating features like gasless transactions, face-ID-like logins, built-in recovery mechanisms, and on-ramp integrations, Safe simplifies user experience while maintaining enterprise-grade security. This makes it ideal for a wide range of use cases—from DeFi and NFTs to AI-driven applications, gaming, social finance (SocialFi), and digital payments.
Organizations such as Shopify and Reddit, alongside high-profile individuals like Vitalik Buterin and Punk6529, rely on Safe for self-custody of valuable digital assets and NFTs. Moreover, over 200 projects, including Gnosis Pay and Worldcoin, are already building on the Safe smart account standard.
👉 Discover how top innovators are leveraging smart accounts for next-gen Web3 solutions.
How Does Safe Work?
At its core, Safe operates using multi-signature (multi-sig) security, a mechanism that requires multiple private keys to authorize a transaction. This adds an extra layer of on-chain multi-factor authentication (MFA), significantly reducing the risk of unauthorized access or theft.
The underlying technology—Safe smart account contracts—is part of Safe(Core), an open-source, battle-tested account abstraction platform. Developers can leverage its comprehensive SDK and API services to embed Safe functionality directly into their apps, enabling advanced features like programmable wallets, session keys, and delegated transactions.
Since its launch in 2018, there have been no critical security breaches involving Safe contracts. The codebase has undergone formal verification and multiple third-party audits, reinforcing its reputation as one of the most secure smart wallet infrastructures in the industry.
As of April 2023:
- Over 8 million Safe accounts have been created
- More than 40 million transactions processed
- Deployed across 15+ networks, including Ethereum, Polygon, Arbitrum, and Optimism
This widespread adoption underscores Safe’s reliability and scalability in real-world environments.
SAFE Tokenomics: Governance and Utility
The SAFE token is an ERC-20 utility token central to the governance and long-term development of the Safe ecosystem. Launched in September 2022 under SafeDAO, the token empowers community-driven decision-making and incentivizes participation.
Key Token Metrics:
- Maximum Supply: 1 billion SAFE tokens
- Initial Circulating Supply: 427 million
- Token Status: Non-transferable (as voted by the community at launch)
While transferability remains restricted for now, the SAFE token plays a vital role in shaping the future of the protocol through decentralized governance.
Core Utilities of the SAFE Token
1. Governance Participation
SAFE token holders can propose and vote on key decisions within SafeDAO, influencing everything from protocol upgrades to treasury allocations and future utility expansions.
2. Safe Activity Program
Users who lock their SAFE tokens can boost their rewards within the Safe ecosystem. This program incentivizes active participation, whether through wallet usage, developer contributions, or community engagement.
3. Future Use Cases
As the Safe ecosystem evolves, so will the potential utilities of the SAFE token. Possible future applications include:
- Staking for network security
- Access to premium features or services
- Identity verification layers
- Revenue-sharing mechanisms
SafeDAO retains the authority to vote on new implementations, ensuring that token utility development aligns with community interests.
👉 Explore how tokenized governance is shaping the future of decentralized platforms.
Founding Team Behind Safe
Safe originated as a spin-off from Gnosis, a pioneering force in decentralized prediction markets and blockchain tooling. The project was co-founded by four experts who brought complementary skills in technology, product, legal, and ecosystem development:
- Lukas Schor: A strategic leader at the Safe Ecosystem Foundation, Lukas drives adoption and advocates for self-custody and decentralized ownership.
- Richard Meissner: A seasoned software engineer focused on expanding digital asset ownership through account abstraction and enhanced security models.
- Dr. Christoph Simmchen: With deep legal expertise, he leads the decentralization effort ("DAOification") of Safe and navigates regulatory considerations.
- Tobias Schubotz: A product innovator dedicated to solving coordination challenges in DApps and improving usability in Web3 through intuitive design.
Together, they have cultivated a culture of transparency, security, and community empowerment—values that continue to guide Safe’s evolution.
Major Milestones and Ecosystem Growth
Since rebranding from Gnosis Safe to Safe in May 2022, the platform has achieved remarkable growth:
- Raised $100 million during rebranding to accelerate development
- Secured over $100 billion in total value locked (TVL) across 15+ chains
- Processed over $1 billion in monthly ETH transfers
- Created more than 8 million accounts — a 290% year-over-year increase
- Handled over 42 million transactions, reflecting 350% annual growth
- Supported integration by 200+ projects building on Safe’s smart account infrastructure
These metrics highlight not only Safe’s technical resilience but also its expanding influence across DeFi, NFTs, gaming, and enterprise blockchain adoption.
Frequently Asked Questions (FAQ)
Q: What is the difference between Safe(Wallet) and Safe(Core)?
A: Safe(Wallet) is the user-facing multi-signature wallet used for secure asset management. Safe(Core) refers to the underlying open-source infrastructure and developer tools that power smart accounts and enable app builders to integrate Safe functionality.
Q: Can I buy or trade SAFE tokens today?
A: As of now, SAFE tokens are non-transferable per community governance decision. However, token holders can participate in governance and earn boosted rewards through the Safe Activity Program.
Q: Why is account abstraction important for Web3?
A: Account abstraction allows wallets to behave like smart contracts, enabling features like social recovery, gas sponsorship, batched transactions, and biometric logins—making crypto easier and safer to use for mainstream audiences.
Q: Is Safe only for institutional users?
A: No. While widely adopted by protocols and enterprises for treasury management, Safe is equally valuable for individual users managing NFTs, ETH, or engaging in DeFi activities securely.
Q: How does Safe compare to other smart wallet solutions?
A: Safe stands out due to its battle-tested codebase, formal verification, extensive audit history, large ecosystem support, and mature governance model via SafeDAO.
Q: On which blockchains does Safe operate?
A: Safe is deployed across more than 15 networks including Ethereum, Polygon, Arbitrum, Optimism, Base, Avalanche, and others—ensuring cross-chain compatibility and flexibility.
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