Original author: Bob
原文来源:BlockBeats
overview
Launched in 2018, the decentralized custody protocol and digital asset management platform Safe (formerly Gnosis Safe) has a slogan of "Unlock Digital Asset Ownership".
As the name suggests, after users transfer digital assets (tokens/NFTs) to the smart contract address of the Safe account controlled by individuals/organizations, they can complete various regular on-chain operations through many mainstream dApps integrated by Safe, so as to realize the transparent management of assets on the chain.
The release of Ethereum's ERC-4337 standard has made it possible to lead the mainstream narrative of crypto breakthrough, and what is the magic of Safe, which can be favored and respected by Ethereum co-founder Vitalik Buterin and OpenAI founder Sam Altman?
As a multi-attribute integrated infrastructure such as "smart contract wallet" + "multisig wallet" + "account abstract concept", Safe is also the absolute hegemon of market share in the field of DAO fund management tools, building a conversion cost moat and cost advantage moat, and its co-founder Lukas Schor announced the SAFE token economic model at the governance forum as early as August 2022.
Token economic model
The total amount of SAFE is fixed at 1 billion and is minted by the Safe Foundation. Thereinto:
5% of users (50 million):
Ecosystem Members/Guardians 5% (50 million): 25 million vested, of which 12.5 million are fully unlocked and 12.5 million vest for 4 years. The remaining 25 million will be distributed to future Guardians.
8% for Institutional Investors (80 million): unlocked starting July 8, 2023, with a vesting period of 4 years.
Safe Foundation 7% (70 million): vesting period is 4 years.
15% of core team members (150 million): vesting period is 4 years.
GnosisDAO Treasury 15% (150 million): vesting period of 4 years, starting on May 1, 2022.
SafeDAO Treasury 40% (400 million): vesting period is 8 years.
GnosisDAO&SafeDAO 联合金库 5%（5000 万枚）：已完全解锁。
Note: Clearly marked DAOs/organizations with the top 100 addresses in the number of Safe airdrops (59)
During the initial user airdrop application period, a total of 11,635 addresses out of 43,575 eligible addresses actively claimed their SAFE airdrops, and then voted by the Safe DAO governance community to redistribute half of the unclaimed airdrops (i.e., more than 16.1 million) to the previously claimed addresses on a pro-rata basis. In total, those who have claimed will be able to claim approximately 190.45% of the SAFE tokens in the initial airdrop scenario.
Ecology at a glance
As the underlying protocol/framework on which the project "Mini Program" can be carried and built, the Safe open source project codebase is also giving back to the Web3 community and building a network effect moat.
Safe Ecosystem Map (2023) Source: Safe
Multis, a crypto startup built on Safe, announced the closing of a $7 million funding round in February 2022, led by Sequoia Capital, with participation from Y Combinator, Coinbase Ventures, MakerDAO, and others.
Coinshift, a Web3 infrastructure startup powered by Safe, announced in May 2022 that it had closed a $17 million Series A funding round led by Tiger Global with participation from Sequoia India and others.
Utopia, a DAO compensation payment system built on Safe, announced in June 2022 that it had closed a $23 million Series A funding round led by Paradigm with participation from Circle Ventures, Coinbase Ventures, and others. Since then, Utopia has announced that it will shut down the service on November 6, 2023. The announcement emphasizes that this action does not mean the closure of the company, but rather the abandonment of existing products and existing directions.
"Fat Protocol, Thin App".
The protocol both creates and captures much of the application-driven value built on top of it. The value returns to the Safe protocol, and the ecological flywheel develops benignly.
V God, OpenAI's CEO's choice
Ethereum founder Vitalik Buterin is a big fan of multisig wallets
When it comes to multisig wallets, readers can only or first think of Safe, which means that Safe has built an intangible asset (brand) moat.
Forbes reported on May 12, 2021 that V God transferred the vast majority of his personal holdings of Ethereum, that is, more than 325,000 ETH (worth more than $1.3 billion at the time), to a new wallet address generated through Gnosis Safe.
As previously reported, V God has repeatedly recommended the use of multisig wallets:
1. On August 15, 2022, it said, "Hardware wallets are overvalued, and most people should deposit most of their token holdings into multisig (5 participants) and ensure that the majority of the keys are held by trusted family and friends." 」；
2. On November 16, 2022, he said, "I prefer social recovery and multisig wallets to hardware wallets, paper records, etc. 」；
3. On March 17, 2023, it said, "Multisig wallets, such as Gnosis Safe, are a simple and secure way to store funds. Self-custody is very important, and both individuals and the Ethereum Foundation use multisig wallets to store most of their funds. 」
来源：V 神 Reddit
Sam Altman's crypto project Worldcoin eco-wallet "World App" integrates Safe
The World App only integrates with Safe, Uniswap, ENS, Circle, MoonPay, and Ramp Network at launch. From this, it may be seen that OpenAI CEO Sam Altman has the purest account abstraction/crypto wallet in mind.
来源：Worldcoin
epilogue
Safe's most popular title is "Multisig Wallet". In fact, Safe is not just a "multi-signature wallet", the most accurate definition is actually a composable smart account framework, which is a fully programmable smart account that can be used to cover any type of use case or user group through plugins.
At the same time, as the first launcher of the new infrastructure track, Safe does not have an optional target that can be compared with the reference market capitalization (MC)/fully diluted valuation (FDV), which brings broad imagination to stakeholders such as ecological builders and participants.