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Gnosis Safe Announces SAFE Token Airdrop to Over 21,000 Users

UTC by Mercy Tukiya Mutanya · 2 min read
Gnosis Safe Announces SAFE Token Airdrop to Over 21,000 Users
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Gnosis Safe had a successful funding round of $100 million in July. The company is also looking to set up the Safe Foundation in Switzerland.

Gnosis Safe has announced plans to airdrop 5 million SAFE tokens to 21,935 users. According to a proposal posted on the Gnosis Safe forum, only Safes created before February 9, 2022, will be considered eligible for the drop. February 9 is the date that the launch of SafeDAO was proposed. The aim of the airdrop is to ensure decentralization in the newly launched SafeDAO. It is also about rewarding active users and raising awareness about Safe as a project and DAO. There were 45,025 Safe wallets created before the proposal, 10,453 of which have never made a transaction. 21,935 contain SAFE tokens with the largest holding 129,339.85 with an average wallet holding 2279.46.

Gnosis Safe, a product of the Gnosis ecosystem, rebranded to Safe in July following a spinning off from Gnosis. As part of the announcement, Safe also posted a spreadsheet with more than 45,000 eligible Ethereum wallets. Almost 22,000 of those will receive a part of the 5 million SAFE airdrop.

“By giving control over the core components of the Safe ecosystem to the SAFE Token holders, the SafeDAO is enabled to introduce value capture and reward programs that supercharge the Gnosis Safe ecosystem flywheel,” Safe Co-Founder Lukas Schor revealed in the proposal

“[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,” Safe Co-Founder Tobias Schubotz wrote, adding, “Long term, we envision the Safe as a community-driven project. It is empowering to own a part of the product they use.”

Gnosis Safe had a successful funding round of $100 million in July. The company is also looking to set up the Safe Foundation in Switzerland. The foundation will oversee the intellectual property, GitHub repositories, investments, and issuance of the SAFE token.

The Gnosis Safe has users ranging from DAOs, institutions and individuals. These include ConsenSys, Aave and Synthetix. It secures more than $38 billion worth of assets.

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Mercy Tukiya Mutanya

Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student. She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.

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