The current price of Safe is $0.50800. Over the last 24 hours, Safe has decreased by -3.29%. It currently has a circulating supply of 566,906,176 SAFE and a maximum supply of 1,000,000,000 SAFE, giving it a fully diluted market cap of $289.35M. At present, the Safe coin holds the 0 position in market cap rankings. The Safe/USD price is updated in real-time.
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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 9.5K new posts about Safe, driven by 7.3K contributors, and total online engagement reached 122M social interactions. The sentiment score for Safe currently stands at 84%. Compared to all cryptocurrencies, post volume for Safe currently ranks at 0. 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
9,533
Contributors
7,311
Interactions
122,274,500
Sentiment
84%
Volume rank
#0
X
Posts
1,004
Interactions
27,467,457
Sentiment
75%
Safe FAQ
Is Safe a multi-sig wallet?
Yes. Safe is a smart wallet with multisig capabilities built in that make it robust and secure. A user can still choose not to use multiple signer and just use one.
The Safe smart account is much larger than the Safe(wallet) interface. It is the core infrastructure used to embed smart accounts into any product. Worldcoin most notably uses it to deploy all their user wallets on the world app.
Why should I use Safe(Wallet)?
There are many reasons but the biggest one is security. Multiple signers to authenticate an account gives users the security like an onchain multi-factor authentication.
Aside from this, many advantages like transaction batching, gas efficiency and using several Safe(Apps) can be enjoyed by users.
What is the Safe token used for?
The SAFE token serves as the cornerstone of the Safe ecosystem, offering multifaceted functionality to its users. Firstly, as the governance backbone, SAFE token holders wield decision-making power within SafeDAO, guiding the platform’s direction through voting on critical matters. Additionally, through the Safe Activity Program, locking SAFE tokens enables participants to amplify their rewards within the ecosystem. As the Safe ecosystem evolves, the utility of the SAFE token is poised to expand further. SafeDAO will continue to shape this evolution by voting on new token utilities and signaling the direction of future explorations.
How much is 1 Safe worth today?
Currently, one Safe is worth $0.50800. 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.
ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Safe
Consensus Mechanism
The Ethereum network uses a Proof-of-Stake Consensus Mechanism to validate new transactions on the blockchain. Core Components 1. Validators: Validators are responsible for proposing and validating new blocks. To become a validator, a user must deposit (stake) 32 ETH into a smart contract. This stake acts as collateral and can be slashed if the validator behaves dishonestly. 2. Beacon Chain: The Beacon Chain is the backbone of Ethereum 2.0. It coordinates the network of validators and manages the consensus protocol. It is responsible for creating new blocks, organizing validators into committees, and implementing the finality of blocks. Consensus Process 1. Block Proposal: Validators are chosen randomly to propose new blocks. This selection is based on a weighted random function (WRF), where the weight is determined by the amount of ETH staked. 2. Attestation: Validators not proposing a block participate in attestation. They attest to the validity of the proposed block by voting for it. Attestations are then aggregated to form a single proof of the block’s validity. 3. Committees: Validators are organized into committees to streamline the validation process. Each committee is responsible for validating blocks within a specific shard or the Beacon Chain itself. This ensures decentralization and security, as a smaller group of validators can quickly reach consensus. 4. Finality: Ethereum 2.0 uses a mechanism called Casper FFG (Friendly Finality Gadget) to achieve finality. Finality means that a block and its transactions are considered irreversible and confirmed. Validators vote on the finality of blocks, and once a supermajority is reached, the block is finalized. 5. Incentives and Penalties: Validators earn rewards for participating in the network, including proposing blocks and attesting to their validity. Conversely, validators can be penalized (slashed) for malicious behavior, such as double-signing or being offline for extended periods. This ensures honest participation and network security.
Incentive Mechanisms and Applicable Fees
Ethereum, particularly after transitioning to Ethereum 2.0 (Eth2), employs a Proof-of-Stake (PoS) consensus mechanism to secure its network. The incentives for validators and the fee structures play crucial roles in maintaining the security and efficiency of the blockchain. Incentive Mechanisms 1. Staking Rewards: Validator Rewards: Validators are essential to the PoS mechanism. They are responsible for proposing and validating new blocks. To participate, they must stake a minimum of 32 ETH. In return, they earn rewards for their contributions, which are paid out in ETH. These rewards are a combination of newly minted ETH and transaction fees from the blocks they validate. Reward Rate: The reward rate for validators is dynamic and depends on the total amount of ETH staked in the network. The more ETH staked, the lower the individual reward rate, and vice versa. This is designed to balance the network's security and the incentive to participate. 2. Transaction Fees: Base Fee: After the implementation of Ethereum Improvement Proposal (EIP) 1559, the transaction fee model changed to include a base fee that is burned (i.e., removed from circulation). This base fee adjusts dynamically based on network demand, aiming to stabilize transaction fees and reduce volatility. Priority Fee (Tip): Users can also include a priority fee (tip) to incentivize validators to include their transactions more quickly. This fee goes directly to the validators, providing them with an additional incentive to process transactions efficiently. 3. Penalties for Malicious Behavior: Slashing: Validators face penalties (slashing) if they engage in malicious behavior, such as double-signing or validating incorrect information. Slashing results in the loss of a portion of their staked ETH, discouraging bad actors and ensuring that validators act in the network's best interest. Inactivity Penalties: Validators also face penalties for prolonged inactivity. This ensures that validators remain active and engaged in maintaining the network's security and operation. Fees Applicable on the Ethereum Blockchain 1. Gas Fees: Calculation: Gas fees are calculated based on the computational complexity of transactions and smart contract executions. Each operation on the Ethereum Virtual Machine (EVM) has an associated gas cost. Dynamic Adjustment: The base fee introduced by EIP-1559 dynamically adjusts according to network congestion. When demand for block space is high, the base fee increases, and when demand is low, it decreases. 2. Smart Contract Fees: Deployment and Interaction: Deploying a smart contract on Ethereum involves paying gas fees proportional to the contract's complexity and size. Interacting with deployed smart contracts (e.g., executing functions, transferring tokens) also incurs gas fees. Optimizations: Developers are incentivized to optimize their smart contracts to minimize gas usage, making transactions more cost-effective for users. 3. Asset Transfer Fees: Token Transfers: Transferring ERC-20 or other token standards involves gas fees. These fees vary based on the token's contract implementation and the current network demand.
Beginning of the period to which the disclosure relates
2024-04-02
End of the period to which the disclosure relates
2025-04-02
Energy report
Energy consumption
3359.06708 (kWh/a)
Energy consumption sources and methodologies
The energy consumption of this asset is aggregated across multiple components:
To determine the energy consumption of a token, the energy consumption of the network(s) ethereum is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
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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