Safe serves as the ownership layer for web3, safeguarding more than $100B in assets. It comprises Safe{Core}, a complete suite of account abstraction infrastructure, and Safe{Wallet}, the industry-standard multi-signature wallet. The initiative aims to transform every Ethereum account into a smart account, fostering growth in areas such as AI, Staking, Gaming, SocialFi, DeFi, and Payments through features like gasless transactions, simple face-ID style logins, onramps, and recovery options. Currently, the Safe ecosystem includes over 200 projects, such as Gnosis Pay and Worldcoin, operating across more than 15 networks using the Safe smart account standard. Safe{Wallet} is utilized by individuals including Vitalik Buterin and Punk6529, as well as major web2 companies like Shopify and Reddit, for self-custody of high-value NFTs and assets.

As of April 2023, users have created over 8M Safe accounts, executing more than 40 million transactions. The open-source contracts have undergone multiple audits and formal verification, proving their robustness. Since its deployment in 2018, Safe has experienced no critical security incidents, maintaining its status as the industry benchmark for security.

Conventional web3 accounts rely on a single private key, typically generated from a 24-word secret phrase. While possession of this key grants full control, it is frequently lost or stolen, leading to total asset loss.

In contrast, Safe employs smart accounts that can be customized to meet the specific custody requirements of various users:

• Support for multi-signature authentication, DAO community control, and modern methods such as social login and passkeys.
• Modules enabling automated actions, spending caps, and defined roles or hierarchies.
• Inheritance and recovery features via Safe{RecoveryHub}.
• Enhanced transaction handling through gas abstraction and batching.
• Hybrid-custody options and transaction verification.

$SAFE serves as the native ERC-20 governance token responsible for overseeing infrastructure elements within the Safe ecosystem, such as:

• Safe Contracts
• Default Interfaces
• On-chain assets
• Tokenomics

Regarding tokenomics:

• Governance: The SAFE token is used to govern SafeDAO (refer to the SafeDAO Constitution). Holders of the SAFE token possess voting rights within the SafeDAO governance scope. For additional details on Safe{DAO} governance, consult the resource hub.
• Safe Activity Program: Participants can lock SAFE to increase or multiply the rewards earned from their engagement in the Safe ecosystem.
• Future Utilities: As the Safe ecosystem develops, the range of potential utilities for the SAFE token is expected to grow naturally. SafeDAO retains the ability to vote on implementing new token utilities and indicate the path for future investigations. The community is invited to participate in exploring and deploying these future SAFE token utilities.

The Safe Foundation, an independent non-profit entity supporting the Safe ecosystem's growth, minted 1 billion SAFE Tokens upon the asset's launch on April 20, 2022. This figure represents the fixed maximum supply for SAFE.