I've brought this up a few times over the past couple years, most recently on a Safe call - the centralized Transaction Service is both a security risk and a missed opportunity for sustainable SAFE token utility.
So I decided to flesh out the full architecture... 🧵
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AminCad Ξ🐬🔊 - evm/acc reposted
Safe.eth
BREAKING: Ethereum Smart Account usage surges in May
🟢28M transactions processed via Safe accounts, 40% more than the previous all-time high.
🟢$60B+ in assets secured
🟢3.43% of all on-chain transactions now originate from a Safe.
Smarter self-custody isn’t coming.
It already won.
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PANews
PANews reported on May 30 that according to SoSoValue data, the crypto sector generally pulled back, with the Layer2 sector falling 8.70% in 24 hours, and within the sector, Arbitrum (ARB), Optimism (OP), and Starknet (STRK) fell 11.31%, 11.43%, and 12.94% respectively. Bitcoin (BTC) fell 2.31%, briefly falling below the $105,000 mark. Ethereum (ETH) also saw a pullback, falling 4.21% to below $2,600.
In other sectors, the CeFi sector fell 2.98%, within the sector, Hyperliquid (HYPE) continued to decline, falling 4.85% again in 24 hours, and LEO Token (LEO) was relatively firm, up 1.18%; The PayFi sector fell 4.34%, but Safe (SAFE) bucked the trend and rose 22.09%; The Layer 1 sector fell 4.83%, TRON (TRX) and Binance Coin (BNB) found support, down 0.51% and 2.40% respectively; The DeFi sector fell 7.24%, the previous higher gainers Uniswap (UNI) fell 10.78%, the Meme sector fell 8.21%, Pepe (PEPE) and Fartcoin (FARTCOIN) fell 8.01% and 9.40% respectively, but SPX6900 (SPX) rose for two consecutive days and rose 4.46% intraday.
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Safe.eth
You don’t need a custodian. You need coordination that works.
THAT'S ETHEREUM
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PANews
PANews reported on May 27 that according to SoSoValue data, the crypto market sector ushered in a pullback after continuous gains, with the SUI ecosystem leading the decline of 4.30% in 24 hours, of which SUI fell 4.15%, Cetus Protocol (CETUS) and SUIA fell 10.80% and 17.50% respectively. Bitcoin (BTC) fell by 1.11%, recovering from $110,000 to $108,000. Ethereum (ETH) edged down 0.98%, trading in a tight range near $2,500.
In other sectors, the CeFi sector fell 1.21%, and Hyperliquid (HYPE), which had a large increase in the early stage, saw a pullback, down 8.05% in 24 hours; The DeFi sector fell 1.36%, but in the sector, Uniswap (UNI), Four (FORM), and Jupiter (JUP) bucked the trend and rose by 3.23%, 4.27%, and 5.62% respectively; The Layer1 sector fell 1.86%, the PayFi sector fell 2.50%, and Safe (SAFE) was relatively firm, surging 3.09% higher during the session; The Meme sector fell by 2.51%, of which, Fartcoin (FARTCOIN) fell by 6.06%; The Layer2 sector fell by 2.73%, and the Movement (MOVE) fell by 8.34%.
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Safe price performance in USD
The current price of Safe is $0.49660. Over the last 24 hours, Safe has increased by +2.69%. It currently has a circulating supply of 593,656,410 SAFE and a maximum supply of 1,000,000,000 SAFE, giving it a fully diluted market cap of $294.69M. At present, Safe holds the 0 position in market cap rankings. The Safe/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
Safe (previously Gnosis Safe) is the ownership layer of web3 securing >$100B+. It includes Safe(Core), a full stack of account abstraction infrastructure, and the industry-standard multi-sig, Safe(Wallet). The project is focused on making every Ethereum account a smart account and enabling new use cases like AI, Staking, Gaming, SocialFi, DeFi, and Payments to flourish with gasless transactions, easy face-ID like logins, onramps, recovery, and more. Safe has a large ecosystem of 200+ projects, including Gnosis Pay and Worldcoin, deployed in over 15 networks, building on the Safe smart account standard. Safe(Wallet) is also widely used by individuals like Vitalik Buterin, Punk6529, and web2 giants like Shopify and Reddit for self-custody of assets and high-value NFTs.
How Does Safe Work
Safe is the smart account standard used for multi-sig security and used by the whole industry for protocol operations and treasury management, mostly to add an extra layer of onchain MFA. The Safe smart account contracts are part of Safe(Core), which is an account abstraction infrastructure to build apps using this same battle-tested account standard. This comes with a full SDK and API services so developers can easily integrate Safe into their apps.
As of April 2023, over 8M Safe accounts have been created, making >40 million transactions. The open-source contracts are battle-tested and have been formally verified and audited multiple times. There have been no critical security incidents since Safe was deployed in 2018, and Safe is known for its security in the industry.
Safe Price and Tokenomics
The SAFE token is an ERC20 token with a ticker symbol of “SAFE”. It has a maximum supply of 1 billion tokens and an initial circulating supply of 427 million. Safe token operates within the Smart Wallets, Smart Accounts Infrastructure sector, an Account Abstraction.
SafeDAO and the SAFE token were launched in September 2022, and as voted by the community, the token remained non-transferable.
Governance: SafeDAO is governed using the SAFE token. SAFE token holders can vote within the scope of governance of SafeDAO.
Safe Activity Program: Locking SAFE can boost/multiply the rewards the participants receive from their activity in the Safe ecosystem.
Future Utilities: As the Safe ecosystem evolves, the design space of utilities for the SAFE token will naturally expand. SafeDAO can vote on the implementation of token utilities and signal the direction of future explorations. The community is encouraged to be part of the exploration and implementation of future SAFE token utilities.
About the founders
Safe is a Gnosis spin-out founded by four co-founders: Lukas Schor, Dr. Christoph Simmchen, Richard Meissner, and Tobias Schubotz. Each excelled in their respective Ecosystem and marketing, product, technology, and legal domains.
Lukas Schor, a leading business strategist at the Safe Ecosystem Foundation, advocates for blockchain technology and self-custody. Richard Meissner, a software engineer, focuses on expanding digital asset ownership and enhancing security through account abstraction. Dr. Christoph Simmchen, with a legal background, champions decentralization, and community ownership, spearheading the ‘DAOification’ of Safe and addressing legal implications. Tobias Schubotz, a product management leader, resolves coordination issues in DApps and promotes account abstraction for improved security and usability in Web3.
Safe Highlights
Since its inception, Safe has achieved several significant milestones. In May 2022, it raised $100 million during its rebranding from Gnosis Safe to Safe. The platform has secured over $100 billion in total value across 15 or more networks, with over $1 billion in monthly transfer volume for ETH alone. Safe boasts the creation of 8 million accounts, representing a remarkable 290% year-over-year increase, and has processed 42 million transactions, marking a 350% year-over-year growth. Additionally, over 200 projects are actively building on Safe accounts and tooling, showcasing its widespread adoption and utility within the blockchain ecosystem.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 10K new posts about Safe, driven by 7.3K contributors, and total online engagement reached 388M social interactions. The sentiment score for Safe currently stands at 78%. Compared to all cryptocurrencies, post volume for Safe currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Safe.
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Posts
9,975
Contributors
7,343
Interactions
388,011,185
Sentiment
78%
Volume rank
#0
X
Posts
1,752
Interactions
115,847,561
Sentiment
58%
Safe FAQ
How much is 1 Safe worth today?
Currently, one Safe is worth $0.49660. For answers and insight into Safe's price action, you're in the right place. Explore the latest Safe charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Safe, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Safe have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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