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Minimum of 400 SAFE tokens will be sent to 21,935 applicable addresses. Gnosis Safe announced Thursday that it will airdrop 50,000,000 SAFE tokens to Safe wallets in order to ensure the launch of its DAO (decentralized autonomous organisation).

Gnosis Safe uses smart contract to support its multisignature wallet. Multisignature wallets require more than one signature to perform transactions. Gnosis Safe allows users secure storage of Ethereum and ERC20 tokens, and interaction with decentralized applications.

Gnosis Safe, a Gnosis product, was rebranded last month to Safe. It had been Gnosis. The SafeDAO token and the SAFE token were also launched by members of the Safe community.

Safe also shared an spreadsheet containing more than 45,000 eligible Ethereum addresses along with the announcement. The airdrop is open to all Safe users who have created an address prior to the February 9, 2022 proposal for launching the SafeDAO.

Lukas Schor, Safe co-founder, stated in the proposal that “By giving control of the core components the Safe ecosystem to SAFE Token holders the SafeDAO can introduce value capture programs and reward programs that supercharge Gnosis Safe ecosystem flywheel.”

Safe claims that SafeDAO will send at most 400 SAFE tokens, or nearly half of eligible wallets, to 21935 addresses.

Safe states that the goal of the airdrop is to decentralize SAFE governance, reward active users, and raise awareness about SafeDAO and SafeDAO.

Gnosis Safe posted a breakdown of allocations on its forum. 10.453 of 45,025 Safe wallets that were created prior to the proposal never made a transaction. 21,935 Safe wallets still contain SAFE tokens. The largest wallet contains 129,339.85 while the average active wallet has 2279.46.

“[The February proposal] proposed plans to launch a SAFE token. Tobias Schubotz, Safe founder, wrote that 5% of total supply will be allocated to users as a reward for past contributions and usage. “Half of those 5% will be available immediately and the rest will vest linearly over four years.”

Schubotz also wrote that community ownership is another goal.

“Long-term, we see the Safe as a community driven project. He wrote that it is anempowering experience to own a portion of the product they use.”

The post Gnosis to Launch DAO With 50 Million Safe Token Airdrop first appeared on The Daily Encrypt.



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Angie Byrd