A 99% majority vote resulted in the unfreezing of the SAFE token contract for transfers.<\/p>\n
After a two-year wait, the SAFE token is now open for trading.<\/p>\n
Safe, the largest Ethereum-based multi-signature wallet provider by number of wallets, on Tuesday said<\/a> in a post on X (formerly Twitter), the Safe token contract \u201cis officially unpaused and SAFE is transferable.\u201d<\/p>\n SAFE was down 20% to $2.76 on its first day of trading, according to CoinGecko. The token\u2019s market capitalization is at $1.17 billion, while its fully-diluted valuation is at $2.75 billion. An overwhelming 99% majority vote resulted in the unfreezing of the SAFE token contract for transfers.<\/p>\n A governance proposal <\/a>on Feb. 13 laid out plans to enhance the SAFE token’s functionality, building upon its existing use for governance-related voting.<\/p>\n “SAFE should comprise a vehicle for achieving the ‘technical, economic, [and] governance decentralization’ of key components of the Safe project,” while also serving as a means to represent the value that comes from the growth of the Safe ecosystem, the proposal noted<\/a>.<\/p>\n The proposal included new potential applications for the SAFE token. It suggested issuing SAFE as a reward to users of the account system, and it considered making it so that “abstracted usernames can only be claimed via SAFE.”<\/p>\n The proposal also talked about putting SAFE into a module that would act as a “protocol-native insurance fund.” Another use mentioned is the integration of the SAFE token into the planned Fee Engine.<\/p>\n In 2022, when the community was not in favor of allowing transfers, SafeDAO decided on five required achievements before reconsidering the token’s transferability. These milestones were under discussion for the past year and concluded with a DAO vote on April 15.<\/p>\n There are a total of 8.25 million Safes created while total-value locked in its wallets totals almost $100 billion, according to data<\/a> queried on Dune Analytics. About 1.4% of all cryptocurrency deals now happen through Safe accounts, according to Messari Research.<\/p>\nEnhanced Token Functionality<\/h2>\n
OKX Lists SAFE Token<\/strong><\/h2>\n