Gnosis Safe launches Governance Token SafeDAO

SAFE has announced the new Airdrop in the event of launching its SafeDAO and token. This Ethereum-based digital asset firm airdropped 50 million tokens for the community.

In the bear market, DAOs are still the best way for trade to build communities, raise funds, and keep all activities going.

Originally, SAFE was the asset management platform in Genosis system. After the DAO vote in July this year, SAFE officially spun off and launched its Airdrop of 50 million SAFE tokens, becoming the governance token. It aims to become the secure Web3-based platform for all holders.

According to Christoph Simmchen – Cofounder of this organization, SafeDAO has two advantages:

• Ensure the critical infrastructure for all projects in the ecosystem run smoothly.
• Enable a decentralized platform for community expansion, and empower the community in the long-term operation.

“Safe is critical infrastructure already,” Simmchen added. “Apart from being a digital asset management platform, it is a composable decentralized custody protocol as well and is used widely in Web3.”

By launching SafeDAO, more than 43.000 SAFE users will be stakeholders. It means token holders have the right to delegate their vote to other members as the “Guardians”.

“Voting power can be delegated to vision-aligned Guardians for those who foresee being less active in governance participation themselves,” the project explained.

Simmchen stated that SAFE “future-ready and customizable custody architecture which is characterized by its programmability, modularity, and compossibility leading to a vibrant ecosystem of projects building on top of it.”

“We believe that SafeDAO will ensure the development of this key infrastructure that a lot of the Web3 depends on,” Simmchen said.

Through its smart contract setting, 10% is the maximum for voting power. It works as the true nature of decentralization at the time of setting up. The ecosystem plays a role in building a place for builders and contributors through Web3 technologies on SafeDAO.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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