Category: NFT News

SafeDAO Prepares To Vote On New Token Utility and Move Towards SAFE Unlocks

Safe, a leading multi-sig and smart account infrastructure provider, is moving to introduce new utility for its SAFE token and advance the project’s roadmap towards progressive decentralization.

A Feb. 13 governance  proposal aims to introduce new use cases for the SAFE token within the project’s ecosystem, expanding on its current utility as a vehicle for governance voting. The proposal notes that SAFE should comprise a vehicle for achieving the “technical, economic, [and] governance decentralization” of key components of the Safe project, in addition to tokenizing value derived from the growth of Safe’s ecosystem.

The proposal suggests issuing SAFE as a reward for account users, exclusively allowing  abstracted usernames to be claimed via SAFE, allocating SAFE to a  module that would act as a protocol-native insurance fund, and incorporating the token into its proposed  Fee Engine.

The document argues for intentionally keeping SAFE’s utility separate from the operation of  smart accounts. It added that additional utilities for SAFE will likely be introduced through governance in the future.